Brazil´s soy harvest expected to reach a record 130 million tonnes in 2020/21

A survey conducted by Reuters shows that Brazil’s soybean production in 2020/21 is expected to jump to a record 130 million tonnes, with good prices driving farmers to increase planting in pasture areas after a drought reduced the harvest in the south of the country in 2019/20.

The survey carried out with eight experts indicates that Brazil, the largest global producer and exporter of soybeans, may increase its harvest by about 8% compared to the 120.9 million tonnes projected by the government in the previous cycle.  The growth, of almost 3% in the harvested area, to the unprecedented level of 38 million hectares, is driven by high-profit margins, coupled with the exchange rate boost, which allowed accelerated advance sales by producers, according to analysts.

“Almost 50% of the soybean crop has already been sold, at a record pace, this shows the trend of growth in the area,” Bartolomeu Braz Pereira, president of producer association Aprosoja Brasil, told Reuters.

The graph below shows the growth of Brazilian soy exports in 2020 compared to previous years:

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

Source of report: Reuters

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