DATAGRO predicts a record value in Brazilian soybean exports in 2022

A study carried out by the consulting firm DATAGRO confirmed a strong increase in the overall volume of soybeans and derivate products shipped in 2021: total shipments amounted to 105.03 million tonnes, up 4% from 2020 when 101.02 million tonnes were exported. These figures confirm the growth in the participation share of this sector in the Brazilian foreign trade.

In 2021, 86.11 million tonnes of soybeans were shipped, up 3.8% compared to 2020; soy bran accounted for 17.2mt (+1.9%), and soy oil, 1.65mt (+49.5%).

One of the factors that made this good performance possible was the record crop harvested in 2021, calculated at 137.81 million t by DATAGRO, an amount 8% higher than the one harvested in 2020 – 128.19 million t. Crop area increased 4%.

The increase in the amount shipped and the rise in average prices helped Brazil achieve a significant increase in total revenue from soy complex exports in 2021: US$ 48.160 billion, well above the previous high of US$ 40.704 billion set in 2018 and 36.7% higher than the US$35.237 billion in 2020.

In 2021, US$ 38.732 billion came from soybean sales, 35.6% above the value obtained in 2020; US$ 7.393 billion from the sale of bran (+25.1); and US$ 2.035 billion from oil (+167.4%).

“The increase in revenue generated from foreign sales helped achieve an impressive increase in the country’s global exports last year, aided by the recovery of the Brazilian economy,” highlights Flávio Roberto de França Junior, the grain coordinator at DATAGRO.

Soy complex products contributed 17.2% in attaining the country’s total revenue of US$ 280.394 billion, up from 16.8% in 2020 and slightly above the 17% in 2018, the previous record year, easily surpassing the average participation of 14.6% in the last ten years.

Projections for 2022

DATAGRO expects only revenue to grow this year, unlike 2021, given severe production losses that reduced the volume available to be exported. However, “these cuts will be offset by the expressive rise in average prices,” analyzes França Junior.

According to the firm, shipments from the soy complex will total 99.15 million tonnes, which, if confirmed, will be 5.6% lower than last year’s record.

The forecast for revenue is US$ 51.345 billion (+6.6%).

Source: Notícias Agrícolas

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