(Yicai Global) Jan. 21 -- Brazil broke its own record in terms of export volume of agricultural products last year, caused by a strengthening demand from Chinese buyers.
Brazil exported USD101.7 billion worth of agricultural products, up 5.9 percent from 2017, state-backed Xinhua News Agency reported on Jan. 19, citing a report from the South American country's Ministry of Agriculture, Livestock, and Supply.
The Chinese mainland is the largest export destination for Brazil's farm produce, the report shows. Such exports amounted to USD35.6 billion last year, which is 34 percent more than that of 2017.
The growth was partly spurred by soybeans as purchasers on China's mainland bought 68.8 million tons of such livestock feed from Brazil in 2018, which was 28 percent more than the previous year. China's largest soybean trade partner used to be the US, but last year's trade frictions have raised import tariffs between the two countries.
Brazil's beef exports also hit a historic high of 1.35 million tons, advancing over 12 percent from 2017. Some 322,300 tons of beef was shipped to China, rising over 52 percent from the previous year.
Agricultural products made up 42.4 percent of all Brazilian exports in 2018. The country's farm product imports fell 0.8 percent to USD14 billion.
Editor: Emmi Laine