Brazil’s record soy exports to China could grow further, an Agriculture Ministry official told Reuters …. as the Asian nation’s trade war with the United States boosts its demand for South American beans.
Odilson Ribeiro e Silva, vice minister of international affairs, traveled to China [the second week of November] and said he hopes the high demand will also open the country up to Brazilian soymeal.
…. Brazil has sent roughly 80 percent of its soybean exports to China this year, with grain trader Agribrasil forecasting it hitting a record 83 million tonnes …. “It can go up further, but we hope that it won’t be only beans, but meal as well,” Silva said in an interview.
Brazil submitted a list of soymeal producers to China for export authorization last year. It is unclear when they will respond, he said. The country currently exports little soymeal to China and few plants are licensed, he said. Chinese approvals of genetically modified crops have slowed recently, he said, and there is no sign it will accelerate.
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Some GMO products approved five years ago in Brazil have yet to be approved by China, preventing their widespread use in Brazil and the productivity gains they would bring, Silva said.
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