China's strong dominance in Brazilian market
China is Brazil's top trading partner. In 2023, Brazil and China traded over $160 billion worth of items between them. Although, the trade is highly dominated by Brazil which has more exports than imports. According to Brazil import export data , China represents around 30% share. China imported around $104 billion worth of goods from Brazil during fiscal year 2023. Soybeans are the top imported items by China from Brazil with recorded 75 MMT of soybeans. Compared to fiscal year 2022, there was a 40% increase in Brazil's soybean exports to China. The total value for Brazil's soybeans exports to China was estimated to be $38 billion in 2023. Olam International, Viterra and Intergrain are the top soybean export companies from Brazil. Iron ore was the second most exported item from Brazil to China. China was responsible for 64% of Brazil's iron ore exports share. Compared to FY 2022, there was a 10% rise in China imports of iron ore from Brazil. Brazil export dat...