November 12, 2018 / 8:38 PM / a month ago

UPDATE 1-Brazil soy exports to surpass 80 mln tonnes in 2018 on Chinese demand

(Adds details, background)

SAO PAULO, Nov 12 (Reuters) - Brazilian exporters are forecast to sell a record volume of soybeans this year as China’s appetite for the oilseed remains strong amid a trade war with the United States, according to traders and shipping data on Monday.

Shipments from Brazil, the world’s largest exporter of the oilseed, are expected to surpass 80 million tonnes in 2018, according to data from shipping agent Williams.

China imposed a 25 percent tariff on U.S. soybeans in July in retaliation for Washington slapping duties on billions of dollars worth of Chinese goods.

With China seeking alternative suppliers, Brazil-based grain trader Agribrasil sees the country’s soybean exports reaching as much as 83 million tonnes, up from 68 million tonnes last year.

The situation shows China’s trade war with the United States is compelling Brazilians to sell more of their grains in months of the year when the U.S. crop is already available.

Through Dec. 5, Brazil will ship a further 3.2 million tonnes, according to Williams data. (Reporting by José Roberto Gomes and Roberto Samora; Writing by Ana Mano; Editing by Rosalba O’Brien and Peter Cooney)

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