Brazil’s soybean exports are expected to total 91.5 million tonnes in 2023, a new record up from the 77.2 million projected for 2022. The forecast is part of the Brazilian supply and demand scheme released by the consultancy Safras & Mercado, which indicates an increase of 19% from one season to the other. “The recovery of Brazilian production, with a new record production potential, should also lead to a new export record,” informs the company’s analyst, Luiz Fernando Roque. The good industrial margins, the strong Brazilian participation in the international market, and possibly higher demand for biodiesel should increase crushing rates. “With the likely super-harvest, ending stocks should have a strong growth, even with the increase in consumption,” adds the analyst. Safras indicates the crushing of 49.5 million tonnes in 2023 and 47.9 million tonnes in 2022, with an increase of 3% between one season and another. Imports are estimated at 100,000 tonnes for 2023, down 86% over 2022.
Sources: Canal Rural/Datamar News