China imported US$58.8 billion in agribusiness products from Brazil in 2022, 43.3 per cent more than in 2021 and practically double the flow five years ago, according to the Ministry of Agriculture and Livestock in Brasília.
The value shipped by Brazilian agribusiness to China represented 31.9 per cent of the total exported by the sector (US$159 billion), and five segments sold more than US$1 billion in 2022 to the Chinese market.
According to the data quoted by the Brazilian press, sales of soy, meats, forestry products, sugar, alcohol and fibres and textile products totalled US$48.915 billion, 83.2 per cent of the total shipped.
China’s soybean imports from Brazil, the main trade flow between both countries, dropped 6 per cent in 2022, in line with reduced purchases from Beijing.
Purchases from Brazil, China’s top soy supplier, were 54.4 million tonnes last year, 6 per cent less than the previous year, Chinese customs data showed.
Drought in Brazil early in the year had tightened supplies and pushed up global prices last year, according to industry experts.
In addition to the five prominent sectors, Brazil also ships other products, such as cocoa, coffee, cereals, juices, animal feed, oils and tea.
In mid-2022, China began to release the entry of Brazilian corn, closing December with 1.165 million tons shipped in 2022.
China is the world’s largest buyer of corn and it is estimated that in the 2022/23 harvest, the Chinese market will buy 18 million tons of cereal.
