According to Ministry of Economy data, soybean oil and meal exports from Brazil reached nearly 20 million tonnes from January to October 2022. The scenario is favorable for the international market; the National Supply Company (Conab) anticipates that exports of both products will reach 22.5 million tonnes. For Conab market analyst Leonardo Amazonas, “the demand, both for soy meal and soy oil, is heated, which keeps prices on the international market at high levels,” he says. Furthermore, Argentina, one of the leading global exporters of these products, experienced a crop failure due to adverse weather conditions in the previous cycle, creating space for the Brazilian product. In Brazil, lower domestic demand for biodiesel allowed for increased oilseed exports.
Source: Agrolink/Datamar News