DATAGRO Grãos: exports from the Brazilian soybean complex in 2023 record record volume and revenue

Published 2024년 2월 26일

Tridge summary

Brazilian soybean exports hit a record high in 2023, with a 24.7% increase from the previous year, reaching 126.818 million tons, according to DATAGRO Grãos. The total revenue from these exports also increased by 10.9% to US$67.377 billion. Factors contributing to this increase include a large harvest, US losses, increased Chinese purchases, US-China political tensions, and competitive pricing. However, projections for 2024 indicate a decrease in both export volume and revenue.

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

Original content

A survey by DATAGRO Grãos confirms a strong overall volume shipped from the Brazilian soybean complex in 2023, with 126.818 million tons, a significant increase of 24.7% compared to 2022, when 101.681 million tons were exported. This total comprises 101,856 million tons of soybeans (+29.4%); 22,613 million tons of soybean meal (+11.1%); and 2,349 million tons of soybean oil (-9.6%). The main factors for this record are the large harvest harvested last year by Brazil, currently estimated at 160,234 million tons of soybeans, an amount 23% higher than the damaged previous season; significant losses in the United States in 2022, with an irregular harvest for the fourth consecutive year; advance in purchases by China after African swine fever (ASF) was overcome; tensions in political relations between the US and China; and greater competitiveness of the soybean complex due to the drop in price standards. A record was also recorded in total revenue obtained from exports from the ...

Source: NoticiasAgricolas