BRAZILIAN FARMERS BEEF UP SOYBEAN PRODUCTION AS CHINA HALTS BUSINESS WITH US DURING TRADE FIGHT
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✍️ The US-China trade war has led to a surge in demand for Brazilian soybeans, with China seeking to replace American soybeans. Brazilian farmers are ramping up production to meet the demand, while American farmers are looking to sell to other countries.
👉 China is seeking to replace American soybeans with Brazilian soybeans due to the trade war 👉 Brazilian soybeans already accounted for over 70% of China's imports last year 👉 The US share of China's soybean imports was down to 21% last year 👉 China's retaliatory tariffs on US soybeans pushed the overall duties to 34% 👉 Brazilian farmers are ramping up production to meet the increased demand 👉 American farmers are looking to sell to other countries like South Korea and the Philippines
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