Brazil the source of half of Chinese soybean imports in 2017

Over half of Chinese imports of soybean last year came from Brazil, the greatest proportion yet, Reuters reports.

The news agency, citing figures given by Chinese customs, says 53.3 percent or 50.93 million tonnes of the imports of soybean by China last year were from Brazil.

The report quotes a Chinese financial analyst, Tian Hao, as saying: “Soybean imports from Brazil to China are expected to keep growing in the new year.”

The analyst added: “Brazilian beans will have an advantage in prices and protein.”