China imported 39.06 million tonnes of soya bean produce from Brazil in the first 11 months of this year – up 22.7 percent from the prior-year period – according to data from the Brazilian Secretariat of Foreign Trade.
In November China’s imports of Brazilian soya bean products leapt 297 percent year-on-year. It bought 2.14 million tonnes – including soya bean meal and oil – according to the data quoted this week by online news portal Macauhub.
The average price per tonne of the soya bean products sold to China in November was US$405.99, said data from the Secretariat, a body that comes under Brazil’s Ministry of Development, Industry and Foreign Trade.
News agency Reuters has quoted some analysts saying the devaluation of the Brazilian currency – the real – against the U.S. dollar has made Brazilian soya beans more competitive on international markets.