The South American giant’s growing dominance in primary product categories fuels the rise, latest data shows.
Brazil China trade
The long-time partnership could help fuel a revitalised green industrial sector in the South American nation.
The South American giant isn’t far off its 2022 trade surplus with China, and we’re just halfway through the year.
Brazil is the world’s largest producer and exporter of soybeans and is benefitting from a rise in Chinese demand for the commodity.
Beijing municipality, a huge trading entity in its own right, has seen a robust recovery in trade volumes driven by emerging economies.
Talks centre around certain types of GM maize grown in Brazil; corn producers, who already sell to EU, Iran, Japan and Mexico, hail new market’s opportunities.
Countries also aim to improve tax services for cross-border businesses and collaborate on industrial and supply chains.
As major grain exporter, Brazil could satisfy China’s needs in wake of drastic drop in exports from Ukraine following Russian invasion.
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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