The Brazilian Vegetable Oil Association (Abiove) revealed that it is negotiating soybean meal import quotas in at least five Asian countries: China, Vietnam, Thailand, Myanmar and South Korea. “We want to raise awareness among Asian governments to give us some quota of added value in their imports,” said the president of Abiove, Carlos Lovatelli, to the Blog AgroSouth News.
Through the measure, the industry seeks to guarantee the supply of soybean meal in Brazil in the coming years. Within 36 months, the mandatory blend of biodiesel into the fuel should rise to 10%, which would generate a greater demand of 400 thousand tons for soybean oil. “The volume of bran should increase due to the increase in the level of oil for biodiesel. There will be more bran and we will have to export it,” explains Lovatelli.
According to Abiove, there are already advanced negotiations with China, which would establish a quota of five million tons of bran. Production of the Brazilian product reduced by 3.4% in Brazil this year to 29.7 million tons with exports falling to 14.3 million tons, which is 3.35% less. This was due to low domestic demand for meat, especially chicken. In Abiove's view, this situation should be reversed in 2017 with new agreements and more external demand.
Source: Agrolink
