Brazil: Soybean exports yield US$ 169 billion in three years

Published 2023년 3월 27일

Tridge summary

The Brazilian Association of Vegetable Oil Industries (Abiove) predicts a record production of soybeans, reaching 153.6 million tons this year, due to high Chinese demand and crop failures in competing countries like Argentina. This increase in production is expected to boost internal processing and export of soy and its derivatives, with the gross value of production estimated at R$ 387 billion. The mixture of biodiesel and diesel is also anticipated to rise from 10% to 12%, leading to a 25% increase in domestic oil consumption. However, the export volume from Brazil remains uncertain due to factors such as Chinese demand and North American crop performance.

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

Original content

Record national production, Chinese demand, crop failure in competing countries, prices still at high levels and the increase in the blend of biodiesel with diesel cooperate for this record that the sector should reach. The data, released this Wednesday (22), are from Abiove (Brazilian Association of Vegetable Oil Industries), which predicts more robust numbers for this year than in the previous one. This scenario of good exports guarantees income for producers. The Gross Value of Production with soy will be R$ 387 billion this year within the gate, according to the Ministry of Agriculture. In February, Brazilians exported a ton of soybeans, including premiums, for US$ 565 via the port of Paranaguá (PR). It is a value lower than last year, but still at a high level. Production, which had a break in 2022 due to droughts, rises to a record 153.6 million tons this year. This increases the potential for internal processing and export of soy and its derivatives. The increase in the ...

Source: Portal Do Agronegocio