Brazilian soybean oil export growth reaches 235%

Published Dec 9, 2022

Tridge summary

From January to October 2022, Brazil's exports of oil and soybean meal reached a record high of nearly 20 million tons, with estimates projecting up to 22.5 million tons. Soybean oil exports saw a significant increase of 63% compared to the previous year, with a 235% growth rate compared to 2020. Indonesia was the main importer of wheat bran, with imports totaling 2.6 million tons. The strong demand for both soy meal and soy oil on the international market has contributed to high prices.

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

Original content

According to data from the Ministry of Economy, Brazilian exports of oil and soybean meal reached almost 20 million tons from January to October 2022, a record volume. Estimates by the National Supply Company (Conab) estimate that exports of the two products close at 22.5 million tons. With regard to soybean oil, exports in the first ten months amounted to 2.16 million tons. The result is 63% higher than in the same period of the previous year, compared to 2020, this growth reaches 235%. When it comes to wheat bran, Indonesia was the main market for Brazilian bran, with ...

Source: Agrolink