Abiove maintains projected revenue record for exports of soy complex

The Brazilian Association of Vegetable Oil Industries (Abiove) adjusted its estimate for the soybean harvest in the country in the 2021/22 harvest from 128.5 million tons to 128.6 million. Due to the drought that affected crops in the southern region and part of Mato Grosso do Sul, the drop in relation to the 2020/20 cycle reaches 7.4%. For the current season, the organization projects 152.6 million tons, a new historical record.

According to Abiove, 52.5 million tons will be processed in Brazil this year, compared to 50.4 million in 2022, and grain exports will reach 92 million tons, a record volume 16.6% higher than last year.

“It is important to mention that the projections for the current harvest take into account the resumption of the schedule for mixing biodiesel with commercial diesel at 15% (the so-called B15), starting in March, as provided for by law”, stressed the organization.

Revenue from exports of the soy complex (grain, bran and oil) this year continues to be projected by Abiove at US$ 65 billion, also the highest value in historical series. In 2022, it was US$ 61 billion.

Source: Valor Econômico

To read the original report, visit: https://valor.globo.com/agronegocios/noticia/2023/02/02/abiove-mantem-projecao-de-receita-recorde-para-exportacoes-do-complexo-soja.ghtml

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