According to Jean Marcel Fernandes, general director for Trade and International relations Agency at Brazilian Ministry of Agriculture, China is likely to import soymeal from Brazil under a memorandum of understanding agreed this month.

Brazilian Sao Paulo State News reported on 27 July that in recent years, China has been the largest export destination of Brazilian soybeans, but previously, Brazilan exports to China were mainly soybean grains, excluding soybean meal.

According to Fernandez, the decision was made during a bilateral subcommittee meeting of the Brazilian High-level Commission for Coordination and Cooperation (COSBAN), which is the main bilateral cooperation mechanism between Brazil and China. "A memorandum of understanding was prepared at this month's subcommittee meeting. After analyzing the potential risks of such products, the Chinese side concluded that Brazilian soybean meal could be exported to China, "Fernandes said.

In addition to soybean meal, China has authorized imports of shelled peanuts, citrus residue, soy protein concentrate and fetal bovine serum from Brazil. In Fernandez's view, this is a major step in the opening up of Brazilian market to China over the past decade.

At present, Brazilian corn exports to China have not yet been implemented. According to Fernandez, Brazil and China have signed the Protocol on Phytosanitary Requirements for Brazilian maize exports to China, but there are still some adjustments to be made before the agreement can be implemented. The two sides are in negotiations.