A major Chinese port in the eastern province of Zhejiang is increasingly unloading Brazilian soybeans as trade flows shift away from U.S. suppliers, China Media Group (CMG) reported.
The Ningbo-Zhoushan Port, one of the world’s busiest terminals, is projected to receive as many as 40 vessels carrying Brazilian soybeans in April, a 48 percent increase from last year, according to CMG.
Data from the U.S. Department of Agriculture showed a steep fall in Chinese purchases of U.S. soybeans.
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