Brazil soybean oil, bran exports go to record highs

According to Ministry of Economy data, soybean oil and meal exports from Brazil reached nearly 20 million tonnes from January to October 2022. The scenario is favorable for the international market; the National Supply Company (Conab) anticipates that exports of both products will reach 22.5 million tonnes.

Soybean meal is mainly used to produce animal feed. Soybean oil is extracted from soybean seed and can be used as biofuel. For Conab market analyst Leonardo Amazonas, “the demand, both for soy meal and soy oil, is heated, which keeps prices on the international market at high levels,” he says.

Furthermore, Argentina, one of the leading global exporters of these products, experienced a crop failure due to adverse weather conditions in the previous cycle, creating space for the Brazilian product. In Brazil, lower domestic demand for biodiesel allowed for increased oilseed exports.

See below the track record of soybean oil (hs code 1507) exported from Brazil between Jan 2019 and Oct 2022, according to the DataLiner data service.

Soybean oil exports | Jan 2019 – Oct 2022 | WTMT

Source: DataLiner (click here to request a demo)

The import and export data for soybeans and grain byproducts can be found at Conab’s 2nd 2022/23 grains harvest survey.

Source: Agrolink

To read the full original article, please go to: https://www.agrolink.com.br/noticias/exportacoes-de-oleo-e-farelo-de-soja-registram-recorde_473292.html

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