>> Luis Eduardo Magalhaes a farming community in Northeastern Brazil is booming. Luxury apartments are going up, car dealership are bustling and more people are moving to the ones rural areas surrounded by farms. Fulling the growth sudden strength in Brazil agriculture industry Which is riding high as China increasingly turns its back on the US in the mix of nasty trade war.
Instead buying more grains from Brazil. Reuters correspondent Jakes Spring.>> Here in Lois Edwardo major links have far boom town in western per year. Farmers are investing in new machines, seeds, other inputs, and by growing the area they have planted.>> Some local soybean producers are shelling out as much as half a million US dollars to live in luxury condos in this city of 85,000 people.
Prices for prime farm land are also 37% over the last six years. Brazil was already writing a surge in demand from China, that was before trade tensions between Washington and Beijing turned into round off to round of punitive tariffs. Now Brazil is reaping the benefits. Brazilian producers are not only selling more grain to China.
Their soya beans are fetching more per bushel than those from the United States. And Brazilian farmers expect the growth to continue. Their bullish on this month's presidential election as the far right candidate. Jair Bolsonaro, who is leading in the polls, has championed the idea of rolling back fines for farmers who deforest illegally or break other environmental laws.
Potentially, making it harder still for US farmers to compete will fear that even if the US and China patch up their differences, the big orders for soybeans from China might not return as the force it once was.