Soybean oil export revenue of Brazil is expected to rise 54% in 2022

Published May 11, 2022

Tridge summary

The article highlights the significant impact of the Ukrainian conflict and the resulting supply disruptions on the global vegetable oil market, with soybean oil prices surging by 42% year-over-year in Brazil. This increase is attributed to marketing difficulties in Ukraine and Russia, enhanced by export restrictions on palm oil from Indonesia. Despite these challenges, Brazil anticipates achieving historic export revenues of $58 billion from the soy complex, driven by a projected 9.1% increase in exports. However, the rise in oil prices is starting to affect consumers, with soybean oil experiencing a 7.6% increase in São Paulo over the last month.

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

Original content

SOYBEAN OIL - PHOTO INTERNET DISCLOSURE For consumers, the product accumulates an increase of 7.6% in the last 30 days, according to Fipe. One of the products most affected by the Ukrainian War was vegetable oils. The numbers released by Abiove (Brazilian Association of Vegetable Oils) this Tuesday (10th) indicate the new price level that soybean oil has reached. This strong evolution is due to the drop in the world supply of the main oils. Ukraine, the world's largest exporter of sunflower oil, and Russia, another important country in this market, have marketing problems. The rise in prices forced several countries to limit exports of other vegetable oils, putting further pressure on prices in this sector on the international market. One of the biggest interferences came from Indonesia, which limited sales of palm oil. As a result, the world trade of vegetable-derived oils was very limited, due to both the action of the Asian country and the effects of the war in Eastern Europe. ...

Source: Brasilagro