Brazil has maintained low soybean exports since the beginning of the year due to a delay in harvesting

Published 2023년 3월 6일

Tridge summary

Brazil's soybean exports have seen a significant decrease in the first two months of 2023, with a 31% drop compared to the same period in 2022, totaling 6 million tons. This decline is attributed to delays in harvesting and the high national currency exchange rate, leading to a decrease in sales of the 2022/23 oilseed crop to 45 million tons, which is only 30% of the expected production and marks the lowest figure since the 2005/06 marketing year. Despite these challenges, experts anticipate a notable increase in soybean exports in the upcoming months.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to AgRural, Brazil exported 6 million tons of soybeans in January-February, which is 31% lower than the corresponding figure in 2022. The slow pace of exports is due to delays in oilseeds harvesting and the high exchange rate of the national currency, which encourages local farmers to hold back sales. Thus, as of February 28, sales of the 2022/23 oilseed crop amounted to 45 million tons compared to 61 million tons in the previous year, which is only 30% of the expected production in the current season ...

Source: Zol