Reductions in the biodiesel blend percentage of Brazil’s diesel sales again affected soy processing in September informed ABIOVE (the Brazilian association of vegetable oil industries). According to the organization, the volume processed reached 3.3 million tons in September compared to 3.4 million in August and 3.7 million in June and July. In the first nine months of the year, the YTD volume decreased by 1.7%. For 2021 as a whole, the organization estimates that processing will total 46.5 million tons, 345,000 less than last year. But for 2022, the perspective is for an increase, to 48 million, although this volume represents 33.7% of estimated production, compared to 33.3% this year. In the association’s accounts, production of soybean will reach a record 144.1 million tons, 4.4% more than this year and they project an increase in grain exports, from 86 million tons in 2021 to 92.1 million. A record export volume of soy meal is also expected, in the order of 17.7 million tons, and 900,000 tons of soy oil over the next year.
Sources: Valor Econômico/Datamar News