World: Brazil expects to increase its sorghum exports to China from 2025

게시됨 2024년 12월 23일

Tridge 요약

China's imports of US agricultural products, particularly soybeans, hit a record low in 2018 due to tensions during the Trump administration's first term. Since then, China has been diversifying its grain and soybean supply sources, including Brazil. With the expected change in government in 2025, there are concerns about new tariffs and a shift in soybean exports towards unknown destinations, fueling speculation of China stockpiling soybeans. The US dominates the global sorghum exports market, with 94% going to China. However, China is beginning to diversify its sorghum imports by turning to Brazil. Tariffs are more likely to affect higher-value commodities imported from Canada and Mexico. Drewry predicts that the new Trump presidency will lead to more trade instability, but China's dependence on American grains and soybeans is not expected to be eliminated completely.
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원본 콘텐츠

Following the strained relationship during Donald Trump’s first administration, China, the largest market for US agricultural products, saw soybean imports plummet, plummeting to a record low in 2018. Grain trade also remained low until a deal was reached in 2020 between the two countries. Since then, China has been diversifying grain and soybean supply sources to reduce its dependence on the US, with Brazil being one of the beneficiaries. With the change of government in 2025, some critical dynamics are already reshaping trade, Drewry notes. Indeed, many US traders are already preparing for new tariffs and the anticipated concentration of soybean exports. Many of these have closed contracts to unknown destinations, leading to speculation that China is stockpiling soybeans. On the other hand, a new potential issue of concern is the trade between the United States and China in sorghum (a key product for human and livestock food), of which the Asian country is the largest importer ...

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