Soybean processing grows with oil and meal exports on the rise

In the specific analysis for the month of June, an increase of 0.8% in soybean processing was found, compared to June 2021.

Exports

From January to July, soybean exports registered 60.5 million tons, a drop of 9% compared to the same period last year. The sale of soybean meal increased by 22%, reaching 12.3 million tons, and soybean oil grew by 68%, reaching 1.5 million tons exported.

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For the month of July alone, there was a drop of 13.3% in exports of soybeans, and increases of 1.8% and 81.6% for soybean meal and oil, respectively.

Projections

The annual projections for the soybean complex in 2022 have undergone some changes in relation to the last release, with the following highlights: i) increase in production from 125.8 to 126.6 million tons of soybeans, and in grain processing from 48. 3 to 48.6 million tons, positively impacting oil and meal production; ii) increase in bran exports, from 18.5 to 18.6 million tons; and iii) increase in the planted area from 40.5 million hectares to 41 million.

The average export reference prices were changed and revenue from the international trade of the three products (grain, oil and bran) should total around US$ 58 billion this year. The information is from Abiove.

Source: SAFRAS Agency | Revision: Yasmim Borges