Brazil Soybean Exports Spike in March
Country shipped out 11.64 MMT of beans in March, up 38% year-on-year
Brazil, the world’s largest soybean exporter, shipped out 11.64 MMT of beans in March, up 38% year-on-year, according to Brazil’s foreign trade department report released, reports the Hellenic Shipping News.
As the coronavirus pandemic spreads, China, the world’s largest soybean buyer, has started to ramp up its soy purchases, market sources said.
In addition, enormous uncertainty hovers over port operations in the Americas amid pandemic fears, as trucking and port unions have threatened to shut operations due to the coronavirus.