Soybean exports from Brazil expected to drop in 2024 – Safras

Brazil’s soybean production is slated to experience a slight decline compared to 2023. The information was released by Safras & Mercado and brought a few changes to the supply and demand outlook.

The forecast, disclosed by Safras & Mercado, digs into Brazil’s supply and demand scenario. In the previous report, released in February, the projection was 94 million tonnes.

Safras expects to crush 54.3 million tonnes in 2024, up from 53.74 million tonnes in 2023, representing a 1% increase. There was no change in the forecast from February.

The data indicates imports of 650,000 tonnes in 2024 vis-a-vis 181,000 tonnes in 2023. Regarding 2024, the total soybean supply is expected to decrease by 6%, reaching 154.317 million tonnes.

Source: BNews

Click here to read the original news report: https://www.bnews.com.br/noticias/economia-e-mercado/exportacoes-de-soja-do-brasil-devem-cair-em-2024-aponta-safras.html

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