China Highlights Arrival of Brazilian Soybeans and Says It Doesn’t Need the U.S.

On Monday (28), the influential social media account Yuyuan Tan Tian, linked to China’s official broadcaster CCTV, posted a video showing multiple ships unloading soybeans at Ningbo-Zhoushan, near Hangzhou and Shanghai.

“After China reduced purchases from the United States, ships carrying Brazilian soybeans have arrived one after another,” stated the Weibo post.  

In April alone, 40 ships used the terminal — a 48% increase from 27 in the same month last year. A total of 700,000 tons of Brazilian soybeans are being unloaded this month, compared to 530,000 tons in April 2024 — a 32% increase.

This follows the recent opening of Chinese trader Cofco’s terminal, the largest at the Port of Santos in Brazil. The terminal is primarily focused on soybean exports.

Just hours after the video was released, Zhao Chenxin, Vice Chairman of China’s National Development and Reform Commission — the country’s top economic planning body — stated in a press conference that China can do without U.S. agricultural products, thanks to alternative supply sources and domestic production.

“There will be little impact on our country’s grain supply even if we stop buying grains and oilseeds from the United States,” Zhao said, noting the same applies to minerals and gas.

The scenes from Ningbo-Zhoushan—one of China’s key soybean ports—contrast with recent footage of Seattle and Los Angeles ports, which appeared on U.S. social media. According to local news reports, both U.S. West Coast ports are already seeing reduced cargo flows after tariffs imposed by Washington on Chinese manufactured goods curtailed imports.

Beijing has long sought to reduce its dependence on U.S. production. China cut the share of soybeans imported from the U.S. from 40% of total annual imports in 2016 to 18% last year.

In a direct comparison with South America, the share of American food imports fell from 20% to 13%, while Brazilian food imports rose from 17% to 25%.

According to U.S. Department of Agriculture data, China purchased only 1,800 tons of soybeans from the U.S. in the week ending April 17, down from 72,800 tons the previous week.

Losing the Chinese market would be a major blow to American farmers, who exported approximately USD 33 billion (BRL 187 billion) in agricultural products to China in 2023. The U.S. also shipped around USD 15 billion (BRL 85 billion) in oil, gas, and coal to the country.

An article by Yin Ruifeng, affiliated with China’s Ministry of Agriculture, estimated that grain shipments — mainly from Brazil, Argentina, and Uruguay — could exceed 30 million tons between April and the end of June. According to Bloomberg estimates, this would set a quarterly record.

“No matter how the international situation evolves, we will stay focused on our development goals and continue managing our affairs well,” Zhao said at the press conference. “We are fully confident in achieving this year’s development targets.”

He was referring to China’s GDP growth projection of around 5% for 2025 — a figure that has been questioned by Western financial analysts following the latest escalation of trade tariffs starting in early April.

Zhao did not announce any new major measures to stimulate domestic consumption, as had been expected in China to offset the drop in U.S. sales. The Chinese assessment, for now, appears to be that the stimulus measures introduced late last year are sufficient—at least until the U.S. provides greater clarity.

Source: Folha de S. Paulo

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