Sao Paolo: The Chinese appetite for Brazilian soya has been growing as Beijing has begun building up stocks while import prices have been relatively low.
To the delight of bulk vessel charterers the growth of Brazilian soya exports to China has been around 20% every year for the past three and in 2010 this is forecast to reach 43m tonnes of soya.
Today China accounts for around 50% of all Brazilian soya exports, which mostly exit the South American country from the ports of Paranagua and Santos.
Low production in China, just 15m tonnes per annum, and a growing and more affluent population means more soya imports from Brazil and Argentina can be expected in the near future. [06/04/10]
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