Brazil: soybean export value share 2019, by country of destination

In 2019, soybean exports from Brazil amounted to approximately 26 billion U.S. dollars. China was by far the leading country of destination for Brazilian exports, accounting for 78 percent of the total value. Spain followed as the second leading country of destination with less than three percent of the export value.

China turns to Brazil

China is the leading importer of soybeans worldwide, with high demand for feeding livestock and producing soybean cooking oil. Among soybean suppliers to China, Brazil leads with three-quarters of the market share as of 2018, followed by the United States with around 20 percent. Brazil has recently surged as the predominant soybean supplier to China, a result further enhanced by trade wars between the Asian country and the United States. In the summer of 2018, a 25 percent tariff was imposed by Beijing on U.S. soybeans as a blowback to the Trump administration’s escalating tariffs on goods produced in China.

Growing market for Brazilian soybeans

As soybean exports from Brazil to China strongly increased from 2016 to 2018, Brazil’s soybean exports reached an all-time peak in 2018 — nearly triple that of the early 2010s. Brazil is expected to outpace the United States as the leading producer of this oilseed worldwide, with the country’s area planted with soybean rising every year of the past decade.

Leading countries of destination of soybean exports from Brazil in 2019, by export value share

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Source

Release date

March 2020

Region

Brazil

Survey time period

2019

Special properties

Whole, crushed and ground soybean; Based on Free on Board (FOB) export value

Supplementary notes

Figures represent the annual value share of soybean exports from Brazil, which amounted to 26.08 billion U.S. dollars in 2019.
The source does not provide a release date. The publication date given is the date of access.

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Statistics on "Agriculture in Brazil"

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