Brazil’s soy exports may reach 83 million tons in 2021, according to Safras & Mercados. If confirmed, the volume will outstrip the amount expected for this year, which is around 82.8 million tons. The survey by Safras & Mercados indicates that there may be a crushing of 45.7 million tons in 2021, over the 44.5 million tons expected for 2020, representing an increase of 3% between seasons. The production of soybean meal is estimated to reach 34.98 million tons, up 2%. Exports may grow by 2% to 17.5 million tons, while domestic consumption is expected to reach 17.35 million, representing an increase of 2%, as well. The production of soybean oil is expected to grow by 2% to 9.2 million tons. Domestic consumption of the product is expected to rise from 8.31 million to 8.62 million tons. The use for biodiesel may increase by 6% and reach 4.5 million tons. Stocks are forecast to drop by 57% to 97,000 tons.
Source: Canal Rural
*Translated by Ia Niani