Brazil is the world's largest supplier of soybean meal

Brazil is expected to maintain high exports of soybean meal this season, becoming the world's largest supplier of this by-product with shipments of 21.82 million tons. According to the analysis of the Logistic Bulletin of the National Supply Company (Conab), the recent changes were motivated by the reduction of soy processing in Argentina – the world's main supplier – due to the drop in the production of the oilseed in that country, which is expected to be 50% less than last year, the worst Argentine result since the 1999/00 cycle. Indirectly, another important factor in the increase in the supply of soybean meal in Brazil is related to the strong demand from the Brazilian biodiesel industries, which boosted soybean oil prices in the Brazilian market. This scenario was intensified by the external dispute, since the global demand for soybean oil from Brazil is also heated, presenting, according to Comex Stat, a record export of the by-product in the period. Brazilian exports of ...