China has reinstated five major Brazilian soybean exporters—including subsidiaries of Cargill, ADM, and Olam—weeks before President Luiz Inácio Lula da Silva’s state visit, signaling a strategic move to solidify Brazil as its top soy supplier amid escalating tensions with the U.S.
Key Details:
- Suspension Lifted: Brazil’s Agriculture Ministry confirmed the reversal, citing resolved phytosanitary concerns after negotiations with Chinese customs (GACC). Shipments resumed April 25.
- Affected Firms:
- Terra Roxa Comercio de Cereais
- Olam Brasil
- C.Vale Cooperativa Agroindustrial
- Cargill Agricola S.A.
- ADM do Brasil
- Trade War Context: China imported 74M+ tons of Brazilian soy in 2024 (70% of its total), while U.S. market share dwindles under Trump’s tariffs.
Strategic Timing:
- The decision precedes Lula’s visit, where anti-U.S. trade war coordination is expected to be a key agenda item.
- Brazil’s record soy harvest is set to fuel China’s Q2 imports to new highs, further marginalizing U.S. farmers.
China Lifts Ban on Five Brazilian Soy Exporters Ahead of Lula’s Visit, Tightening Trade War Alliance