Brazilian soybean exporters welcome Chinese buyers

Brazilian soybean exporters are seeing increased interest from China as the country works to pivot away from its traditional trade with the United States, particularly following the recent tariff imposition.

The agricultural commodities market in Brazil is showing clear signs of what analysts have predicted: soybean shipments from Brazil to China are rising as the trade conflict with the U.S. escalates.

Not only did Chinese buyers significantly increase their contracted volumes in the first quarter, but premiums are also rising -- an unusual occurrence for this time of year, as post-harvest stocks in Brazil typically lead to lower prices.

Signs of such movement could be seen even before the new U.S. tariff policies were officially implemented, according to industry analysts.

"I think they were expecting something like that from Trump. And so they started to increase their imports from Brazil already, before the establishment of the tariffs. But now it's very clear that they are searching (for) more products from Brazil," said Jose Carlos, a market analyst for Brazilian agricultural market consulting company MB Agro.

The Brazilian Association of Vegetable Oil Industries has confirmed the expected increase in Chinese demand but warned that it is essential to keep soybean processing domestic to secure the supply of key products like vegetable oil and biodiesel.

The overall impact of the U.S. tariff disputes on Brazil is still uncertain. A recent study by the Federal University of Minas Gerais estimates the country could lose nearly two billion dollars in exports.

However, there is no doubt that Brazil's soy sector stands to gain from the increasing demand from China, at least in the short term.

While some sectors may experience gains, they may not be enough to counterbalance the broader disruptions in international trade that Brazil is facing, according to Bruno Russo, the owner of Brazilian foreign trade company Timbro Trading. 

"I believe it's important that dialogue prevails so this trade war can end as soon as possible. There may be indirect impacts, including on logistics. If this conflict moves forward, it could have medium- to long-term consequences. So we hope diplomacy and dialogue will prevail and bring it to an end," he said.

Brazilian soybean exporters welcome Chinese buyers

Attractions across China are embracing a tourist boom during the five-day May Day holiday season beginning on Thursday.

In south China's Guangdong Province, the Hong Kong-Zhuhai-Macao Bridge, a mega bridge connecting Guangdong's Zhuhai City with neighboring Hong Kong and Macao, is one of the most popular tourist destinations.

The total number of visits of the bridge during the holiday has exceeded 6,800, about 50 percent more than that on normal days.

"I am indeed feeling very proud [of this mega project], a big thumbs-up for our great country!" said a tourist surnamed Ke.

In the Tianmen Mountain scenic area in Zhangjiajie, central China's Hunan Province, performances featuring local folk customs are amazing tourists from home and abroad.

"I think it's really traditional in China, the costumes and the dance. We really like it," said tourist Julie from France.

"I love the performance. I felt like it was very immersive, and with the view, it's crazy. I'll recommend everyone thinking of coming here for sure," said tourist Duarte from Portugal.

In northwest China's Gansu Province, the famous Mogao Grottoes are also see a peak of visits during the holiday, as the tickets, which are limited to 6,000 per day, would all sell out well in advance.

Built between the 4th and 14th centuries, the Mogao Grottoes are home to a vast collection of Buddhist artworks, with more than 2,000 colored sculptures and 45,000 square meters of murals located in 735 caves, carved along the cliffs by ancient worshipers.

In northwest China's Xinjiang Uygur Autonomous Region, the Tianchi Lake in the Tianshan Mountains, more than 1,900 meters above sea level, had the ice floes on it thawed just before the holiday, offering tourists a breathtaking view.

"This is my first time to visit the lake. The view is shockingly beautiful when you see it in person!" said tourist Chen Yanru from northeast China's Liaoning Province.

Xinjiang's Manas county is a famous destination for self-driving tours because of the region's diverse natural landscapes, such as yardangs, the Danxia landform, river valleys, canyons, alpine meadows and forests.

"It's a very worthwhile trip for the holiday. I am amazed by the picturesque scenery of Xinjiang," said tourist Zhou Chenchong from Shanghai.

Attractions across China embrace May Day holiday tourism boom