A Huge New Market for Brazilian Peanuts

A deal between China and the Latin American country may create significant trade opportunities.

As an article on ChinaDaily.com (t.ly/u1Y-) states, “China and Brazil recently agreed to new protocols that allow the Latin American giant to export large shipments of corn and peanuts to China, as announced at the sixth meeting of the China-Brazil Highlevel Coordination and Cooperation Committee on May 23. Negotiations also will start this month on expanding trade in other commodities. ‘Brazil and China are complementary economies, and proof of this is the need that China has at this moment for corn. Brazil is a partner that can meet China's needs,’ said Henrique Reis, international relations manager in Sao Paulo for the China Trade Center Group. In a joint news statement, Brazil's Ministry of Agriculture, Livestock and Supply and the Ministry of Foreign Affairs said that the ‘compromises reached demonstrate the dynamism of the bilateral relationship in agriculture’ and the potential for increased trade between the two countries… However,” the article continued, “Brazilian producers still need to create confidence in the stability of supply and the prospects for a long-term trade relationship with Chinese buyers.”