In 2024, Brazil's soybean exports may not exceed the previous year's level

Published 2024년 2월 21일

Tridge summary

Brazil's soybean exports are expected to drop to 94 million tons in 2024, a decrease from 101.9 million tons in the previous year, according to Safras&Mercado. However, domestic oilseed processing is projected to increase to 54.3 million tons, and soybean oil consumption for biodiesel production is set to rise by 18% to 5.2 million tons. Exports of soybean meal and soybean oil are predicted to reach 21 million tons and 1.5 million tons respectively, while soybean reserves may total 3.2 million tons by the end of 2024.

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

Original content

Analysts at Safras&Mercado forecast soybean exports from Brazil in 2024 at 94 million tons, which is significantly lower than the result of the previous season (101.9 million tons). At the same time, the volume of domestic oilseed processing is expected to increase to 54.3 million tons against 52.2 million tons in 2023. At the same time, an 18% increase in the volume of soybean oil consumption for biodiesel production is projected - up to 5.2 million tons. Exports of soybean meal from Brazil this year are expected to ...

Source: Zol