International Demand for Brazilian Soybeans On The Rise, Inform Researchers

The international demand for Brazilian soybeans is experiencing significant growth. According to researchers at the Center for Advanced Studies in Applied Economics (Cepea) of the University fo São Paulo/USP, this trend is primarily favored by the supply constraints in other South American countries and reduced productivity in the United States.

Furthermore, Brazilian prices are attractive due to lower export premiums.

According to Cepea, on Friday, November 3rd, a 60-kilogram bag of soybeans delivered to the port of Paranaguá was quoted at R$ 142.14, with a 0.27% decrease over 30 days.

In October, Brazilian soybean exports reached 5.5 million tonnes, according to data from the Secretariat of Foreign Trade (Secex), marking a record for the month and bringing the total volume shipped in 2023 to 92.8 million tonnes (up to October).

In this second semester alone, over 30 million tonnes of soybeans were shipped, surpassing the volume exported during the entire second semester of 2022 by 16.7%.

Source: Globo Rural

To read the original text, please visit: https://globorural.globo.com/cotacoes/noticia/2023/11/demanda-por-soja-brasileira-cresce-informa-cepea.ghtml

Sharing is caring!