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Brazilian vice president says the nation’s soy exports should depend less on China

Hamilton Mourão points to Africa, Asia and the Middle East as future markets, calls for establishment of body of South American food producers ‘like OPEC’.

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Hamilton Mourão points to Africa, Asia and the Middle East as future markets, calls for establishment of body of South American food producers ‘like OPEC’.

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PUBLISHED

UPDATED: 22 Dec 2023, 4:40 am

Brazil needs to reduce its dependence on China, which is the main importer of Brazilian soy, vice president Hamilton Mourão, has said.

“We have to look for new markets, and we are betting on southern Africa, southern Asia and the Middle East,” said Mourão, who was speaking at the 9th Brazilian Soy Congress – Mercosoja 2022, in Foz do Iguaçu, Paraná.

China imported 14.851 million tons of soybeans from Brazil from January to March 2022, according to the Foreign Trade Secretariat of the Ministry of Economy.

The amount is 35 per cent higher than the 10.989 million tons in the same period in 2021.

Overall, Brazilian soybean exports totaled 20.978 million tons from January to March 2022, CLBrief reported.

Mourão also highlighted the need for South American food producers to create a joint body, to increase competitiveness in the international export market, citing OPEC (Organization of the Petroleum Exporting Countries) as a good example.

 

UPDATED: 22 Dec 2023, 4:40 am

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