Brazilian oilseeds and grain exports are booming. China's purchases of soybeans more than doubled in the first two months of the year, while husk rice overseas sales during February jumped 65% compared to a year ago.
According to Chinese Customs reports, imports from Brazil of soybeans climbed 241% during Jan/February, from 1,3 million tons last year to 3,51 million tons in 2022
Meanwhile rice exports (husk base) totaled 135,300 tons last month, up 65% from February 2021, according to the Brazilian Rice Industry Association (Abiarroz) based on data by the Ministry of Economy. The revenue generated by these shipments represented more than US$40 million, compared to US$ 22,7 million a year ago.
Venezuela ranked top of the list with 53,100 tons of Brazilian rice, followed by Cuba, Peru, United States, and Cape Verde. Brazilian imports, in turn, dropped 14.5% in February to 70,200 tons, amounting to US$ 17,2 million, less than the US$ 26,2 million of February 2021.
The figures registered in the first two months of the year show that rice exports (husk base) reached 277.3 thousand tons and US$ 84.9 million in revenue. In the first two months of 2021, Brazil shipped 103.3 thousand tons, representing US$ 32.2 million.
“The rice industry in Brazil shows a surplus of nearly US$ 60 million compared to a deficit of US$ 40 million in 2021,” said export manager at Abiarroz, Carolina Matos.
Brazil remains China's largest supplier of soybeans but last year severe rainfall delayed the harvesting process and, subsequently exports. This year however drought has slowed down harvesting and shipments, squeezing the supplies in China and forcing crushers to halt operations and push bran prices to record levels.
China also brought in 10.04 million tons of soybeans from the United States in the first two months of 2022, down 16% from 11.9 million tons a year ago, according to Beijing customs data.
In early 2021, the country increased its purchases of agricultural products from the United States to follow through with the commitments laid out in the trade agreements signed by the two countries in January 2020