The Brazilian Association of Vegetable Oil Industries (ABIOVE) released on Thursday 7, the update of the statistics of the soy complex until March 2020, which point to an increase in soybean and soybean oil exports for this year (January to December). The data obtained indicate that soybean grain exports are expected to reach 77 million tons in 2020, an increase of 2.25% in relation to the volume previously forecast by the entity (75.3 million tons). The projection is 4% higher than the 74.073 million exported last year. Exports of soybean oil should total 700 tons. The volume is 42% higher than the estimated 500 thousand tons in March and 32.8% below the 1.041 million tons shipped abroad last year. Abiove’s justification for raising this year’s projection is the increase in demand in the main import markets. Abiove points out that projections of domestic crushing were maintained at 44.5 million tons, a record volume, which indicates sufficient availability of soy to meet the domestic and export needs of the year.
Source: Revista Globo Rural