Trade war between China and USA benefits Brazil's soybean exports

The trade dispute between China and the United States has opened up space for Brazilian soybeans to gain even more relevance in the international market. With additional tariffs imposed by Beijing on American soybeans, Brazilian shipments have become the main alternative to meet Chinese demand, which accounts for an average of 61% of all soybeans traded in global commerce, according to the American Soybean Association. In recent years, China has imported volumes that exceed the sum of all other buyers in the world. The Asian country, with 1.4 billion inhabitants and the largest pig herd on the planet, is irreplaceable for the global market of the oilseed. In 2024, the United States managed to export 27 million tons of soybeans to China, but this flow was drastically reduced after the imposition of a 23% tariff by Beijing. Despite American soybeans having recorded prices up to $0.90 per bushel cheaper than Brazilian soybeans, the additional tax made the product $2 per bushel more ...