BRAZIL’S SOYBEAN EXPORTS TO REACH 80.5 MILLION TONS IN 2022, SAFRA SAYS

Brazil Soybean exports are expected to total 80.5 million tons in 2022, down from the 86.1 million tons in 2021. SAFRAS expects an increase of 2% of crushed cane, with 47.5 million tons in 2022 compared to the 46.5 million tons crushed in 2021. Imports are expected to reach 1 million tons, with an increase of 16% over the previous year. The total supply of soybeans is expected to decline 6% in 2022 to 133.97 million tons. Soybean meal is likely to reach 36.55 million tons, with an increase of 3% according to the entity. Exports are expected to rise 6% to 18.2 million tons, while domestic consumption is projected at 18.3 million, up 2%. Stocks are expected to rise 3% to 1.96 million tons. Soybean oil output is expected to increase by 3% to 9.65 million tons. Brazil should export 1.7 million tons, up 3% over the previous year. Domestic consumption is expected to drop 2% to 8 million tons. The use of soybean oil used for biofuel is expected to drop by 2% to 4.1 million tons. Stocks are likely to rise 29% to 223,000 tons.

Source: Safras & Mercado (*Translated by Ia Niani)