BIMCO: Brazilian Grain Shipments Up 9% as China Seeks US Alternative

Between January and April 2025, Brazilian grain shipments rose 9% y/y, supported by strong Chinese purchasing, according to Filipe Gouveia, Shipping Analysis Manager at BIMCO.

The ramp-up in exports has been supported by a 9% increase in the soya bean harvest, according to estimates by the United States Department of Agriculture (USDA). Shipments were weakest in January due to a delay in the harvest, but they quickly ramped up in February, driving an increase in ship congestion. Soya beans account for 71% of Brazilian grain shipments while maize accounts for 27%.

China is a key importer of global and Brazilian grain shipments, making up respectively 25% and 53% of total shipments. Due to lower prices, China has gradually increased purchases of Brazilian cargoes over the last 10 years at the expense of US shipments. Since March 2025, US-China grain shipments have reduced further due to a 125 percentage points increase in import tariffs on US grains. Year-to-date, this has contributed to a 54% y/y reduction in US-China grain shipments while Brazil to China shipments have risen 9%,

“The pick-up in Brazilian grain exports has been positive for tonne mile demand in the panamax segment which transported 82% of cargoes in