BRL 5.7 BILLION INVESTMENT BOOSTS SOYBEAN INDUSTRIALIZATION

According to Abiove, soybean firms will invest BRL 5.76 billion in new industrial projects in the coming year, up from BRL2.5 billion between 2020 and 2022 but 4% less than the previous year. The growing demand for soybean oil for biodiesel has prompted the construction of five new soybean crushers and the expansion of five existing plants, resulting in an 8.8% increase in production capacity. It is expected that meat exports will increase the use of soybean meal as animal feed.
Source: Globo Rural(*Translated by Ia Niani)