The worldโs second-largest economy reinstated the registration of five Brazilian soybean exporters last week, allowing them to resume shipments to the mainland, according to Chinese customs authorities.
In January, China suspended export qualifications for several firms from Brazil after repeatedly detecting soybeans coated in pesticide, according to the customs statement. Three of the companies accounted for roughly one-third of Brazilโs total soybean exports to China in 2024.
โChina has been actively diversifying its soybean imports, taking more from countries such as Brazil, which has surpassed the US to become Chinaโs top soybean supplier in recent years,โ Barclay Bank economists said in a report on the countryโs latest import activities.
โIn addition, we think China may accelerate its shift to other exporters of agricultural products like Brazil, Argentina and Australia.โ