Brazil poised to hold 60% share of global soybean exports in 10 years

Brazil’s soybean exports are projected to increase by 31.8% over the next decade, reaching 133.2 million tonnes by 2033/34, according to the United States Department of Agriculture (USDA).

The USDA projected that Brazil’s share of global exports is expected to rise from 57.18% in 2024/25 to 60.1% in 2033/34.

The agency highlighted that soybeans remain more profitable than other crops in most areas of Brazil.

“With the expansion of cultivation in the Cerrado region and production extending into the Legal Amazon, the growth rate of soybean-planted areas is expected to steadily increase over the next decade,” the USDA noted.

US Soybeans

US shipments are expected to increase by 10.9% during the period, reaching 58.1 million tons by 2033/34.

However, the USDA forecasts a decrease in the United States’ share of global exports from 29.6% to 26.2%.

Source: Canal Rural

Click here to read the original news article: https://www.canalrural.com.br/agricultura/projeto-soja-brasil/usda-brasil-deve-ter-fatia-de-60-nas-exportacoes-mundiais-de-soja-em-10-anos/

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