A study has concluded that China will be the buyer of 70 percent of the soybeans exported by Brazil 10 years from now, Xinhua reports.
The Chinese government-run news agency says the Brazilian Ministry of Agriculture and the Brazilian Agricultural Research Corporation made the study.
They reckon that Brazil will be producing 156 million tonnes of soybeans a year by 2028, 30 percent more than at present, and exporting 96.5 million tonnes of the annual crop.
The report says official figures indicate that Brazil sold China 43.9 million tonnes of soybeans in the first seven months of this year, or 80.6 percent of the soybeans Brazil exported.
The price of Brazilian soybeans is 15 percent higher now than a year ago because of Chinese demand, Xinhua says.
