Brazilian President Lula said that they are fully capable of replacing the US as China's main soybean exporter.
According to a report by O Estado de S. Paulo on April 19th, President Lula stated in an exclusive interview that he had just reached a $7.5 billion agricultural product procurement agreement with China, mainly for soybeans, corn, and beans. He also mentioned that Brazil has 117 million acres of land planted with soybeans, with an annual output of up to 170 million tons, and the quality of its soybeans is no worse than that of the US. It is completely possible for Brazil to replace the US as China's largest soybean exporter. Additionally, Brazil's beef and other meat products can also increase exports to China.
In addition, there is a local currency quota of 190 billion RMB between China and Brazil each year. An increase in bilateral trade volume can effectively weaken the dollar's hegemony. This is quite beneficial for all parties involved.
Original article: https://www.toutiao.com/article/1829927345946819/
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