Brazil may hit some records in the 2020/21 harvest year. According to Conab, grain production is estimated at 268.7 million tons, a volume 4.2% higher than the that of the 2019/20 season (257.7 million tons). Soybean production is estimated at 133.7 million tons this year. Brazil is the world’s largest producer of soybeans, followed by the United States and Argentina. The product leads the list of grains that are commercialized by the country. However, soy exports grow rapidly through the Nothern Arc (a set of ports from the state of Rondônia to the state of Maranhão). More than 70% of national production is intended for the foreign market. The main consumer of Brazilian soybean is China, which purchased 85% of Brazilian grain exports last year. Soy represents US$ 14,00 from US$ 100 of Brazilian exports and was responsible for much of the $48 billion surplus in 2019 and of the US$ 300 billion accumulated recently in foreign exchange reserves.
Source: Porto do Itaqui
*Translated by Ia Niani