Soybean exports from Brazil are expected to fall 29% in April compared to 2021, says Anec

The amount of soybeans that Brazil will export in April was assessed at 11.12 million tonnes on Tuesday (April 5), a decline of 29% from the all-time high of 15.67 million tonnes seen in the same month last year, according to the National Association of Cereal Exporters (Anec).

After starting the year with higher soybean shipments in January and February (not to be discarded the weaker comparison basis posed by 2021 figures), exports from Brazil fell by 2.7 million tonnes in March compared to the same month last year amid a severe crop failure induced by drought.

See below the track record for Brazilian soybean shipments from January 2020 to February 2022. The data are from DataLiner.

Exports of Soybeans (HS 1201) from Brazil | Jan 2020 – Jan 2022 | WTMT

Fonte: DataLiner (clique aqui para solicitar uma demonstração)

According to Anec statistics, with the predicted fall in April, Brazilian soybean shipments are likely to conclude the quarter with 1.5 million tonnes lower than those recorded in the same period in 2021, totalling 34.68 million tonnes.

The reported drop happened when the country lost some shipments to the United States during a season when it regularly dominates exports to China, the world’s top commodity buyer.

Several analysts and the industry association Abiove itself cut Brazil’s soybean export projections to levels below 80 million tonnes in 2022, vis-a-vis a record of 86.6 million in 2021.

As for soy bran, exports are expected to grow by more than 300,000 tonnes year-on-year, to 1.9 million tonnes in April. Despite the reduction in grain exports, crushing margins remained relatively stable in the country.

Source: Money Times

To read the full original article, please go to:

https://www.moneytimes.com.br/exportacao-de-soja-do-brasil-deve-cair-29-em-abril-ante-recorde-de-2021-diz-anec/

Sharing is caring!