Brazil Increases Its Market Share in the Largest Soy Market Amid North American Competition.

In Short: Brazil's soybean exports to China in 2023 increased by 29% compared to the previous year, according to data from the Chinese customs released last week, further expanding the South American giant's share in the world's largest soybean market. According to Reuters' calculations, Brazil's market share grew to 70%, while the U.S. share decreased to 24%. The total shipments from Brazil to China reached 69.95 million tons last year, as reported by the General Administration of Customs of China.

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