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Brazil Farmers Swap Sugar for Soy

Trade war expected to boost country's soy exports to an all-time record

File Photo
File Photo

Shifting trade flows are redefining the Brazilian landscape, spurring more farmers to align their crops with Chinese appetites.

Reuters reports the nation’s soy plantings have expanded by 2 million hectares in two years - an area the size of New Jersey - while land used for cane shrank by nearly 400,000 hectares, according to government data.

China’s growing demand for meat has supercharged soy imports for animal feed. The Asian nation paid $20.3 billion last year for 53.8 million tonnes of soybeans from Brazil, nearly half its output — and up from 22.8 million tonnes in 2012.

A new 25% Chinese tariff on U.S. soybeans is expected to boost Brazil’s soy exports to an all-time record this year.

Brazil’s grains boom has it rivaling United States as the world’s top soy producer this year, after outpacing U.S. exports over the past five years.

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