As China’s cooperation with the United States gradually declines, Brazil is becoming an increasingly important supplier of agricultural products to China.
Since 2018, when the trade war between the United States and China began, Brazil has held the palm in the volume of supplies of agricultural products to China for all 6 years, significantly displacing the United States in this market.
In total, Brazil supplied $59 billion worth of agricultural products to China in 2023, which was a record value.
Today, Brazil already occupies 25% of the structure of Chinese agricultural imports, followed by the USA (14%), followed by countries such as Thailand, Australia, and Indonesia.
At the same time, the total volume of American supplies of agricultural products to China last year decreased by 22% and reached $33 billion.
At the same time, Brazil sent $59 billion worth of agricultural products to China, an increase of about 14%.
China is currently the most significant buyer of Brazilian agricultural products, accounting for more than half of the country’s total exports.
The main types of products that are actively supplied are corn and soybeans.
For example, last year China imported 70 million tons of Brazilian soybeans, up 29% from the previous year.
At the same time, soybean imports from the United States decreased by 13% and reached 24 million tons.
Corn supplies are also growing.
A historic event was that in January 2023, a trading ship carrying 68 thousand tons of corn arrived in China for the first time.
This is the first example in the history of relations between the two countries that China imported corn grown in Brazil in bulk. Since then, wholesale supplies of this crop have also become common in these two countries.
At the same time, it is planned that cooperation will develop and strengthen in the future.
“Brazil is a large agricultural country, and China is the world’s largest consumer and importer of agricultural products, which provides the basis for increased cooperation between the two countries,” said Zhang Weiqi, director of the Brazil Research Center at Shanghai University of International Studies.
According to the expert, this year diplomatic relations between Brazil and China will be 50 years old, and this is a good reason to expand their cooperation.
Including, perhaps, concluding extensive agreements on the development of bilateral relations.
At the same time, countries have long been looking in the same direction economically, since they are members of BRICS.
