Brazil soybean meal export forecast rises to 2.38 million tons

Brazilian soybean exports are projected to reach 15.45 million tonnes in March, an increase of more than 4% compared to last week’s forecast, the National Association of Grain Exporters (Anec) estimated on Tuesday. This growth reflects the strong performance of Brazil’s agribusiness sector, which continues to benefit from favorable weather conditions and rising global demand for soybeans, particularly from China.

If confirmed, exports would rise by nearly 2 million tonnes compared to March last year. This significant increase highlights the competitiveness of Brazilian soybeans in the global market, driven by high-yielding crops.

Anec also raised its forecast for Brazilian soybean meal exports to 2.38 million tonnes in March, up from 2 million in the previous estimate, marking an annual increase of nearly 600,000 tonnes. Soybean meal, a byproduct of soybean processing, is widely used as animal feed, especially in the poultry and swine industries, both of which have been experiencing steady growth in Brazil.

According to market analysts, the positive outlook for soybean exports is expected to continue in the coming months, with projections of record harvests and sustained international demand. However, key factors such as climate variability and global trade policies should be closely monitored, as they could significantly impact the market.

(With Forbes Agro)

Source: Sou Agro

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