Abiove predicts record soybean harvest of 130.5 million tonnes in 2021

According to the chief economist of the Brazilian Association of Vegetable Oil Industries (Abiove), Daniel Amaral, Brazil may increase soybean production by 5 million tonnes in 2021, to a record of 130.5 million tonnes.  According to him, Brazilian oilseed exports may reach 80 million tonnes in 2021, while domestic crushing could reach a new annual record of 45 million tonnes.

For this year, the executive revised the projection of Brazil’s soybean crop up to 500.5 million tonnes, to 125.5 million tonnes. According to his analysis, soybean exports in 2020 are expected to reach 80 million tonnes, compared to 79.5 million tonnes projected in July. It also slightly raised the forecast for soybean processing in Brazil this year, to 44.6 million tonnes, versus 44.5 million in the previous projection.

The following chart illustrates Brazilian soy exports:

Graphic source: DataLiner (To request a DataLiner demo click here)

Sharing is caring!