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Brazil's farmers dump sugar for soy as trade war boosts Chinese demand

Reuters  |  ITAÍ, Brazil 

By Marcelo TeixeiraITAÍ, Brazil (Reuters) - Last year, Brazilian farmer Gustavo Lopes sized up his sugarcane plantation against his soybean fields.He looked at global trends, including rising U.S.-China trade tensions and a stubborn sugar-market glut. Then he tore up the last of his cane fields and ditched a decades-old supply contract with a local sugar mill.Lopes planted soybeans across his 1,600-hectare (4,000-acre) farm in Sao Paulo state - a bet that paid off earlier this month when Chinese buyers loaded up on South American soy after Beijing imposed tariffs on U.S. beans. The farmer got ...

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First Published: Tue, August 14 2018. 13:02 IST