Record soy crop

The record harvest of this 2020/21 crop, the heated demand from China, and the high prices on the international market continue to produce records in the country’s soybean production chain – and these records, with each new round of public and private estimates, continue to attain new levels.

On Monday, ABIOVE (the Brazilian vegetable-oil industries association) announced that shipments of soybeans in grain form should reach a record 85.7 million tons this year, an increase of 0.1% compared to May and an increase of 3.3% compared to 2020.

The graph below was compiled using DataLiner data and shows the history of Brazilian soybean exports since 2018:

Brazilian Soy Exports (HS 1201) | Jan 2018 to April 2021 | WTMT

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

The average annual price of the exported raw material is calculated by ABIOVE at US$ 500 per ton, above the US$ 344 per ton in 2020. Export revenue in 2021 is now estimated to reach US$ 42.9 billion, an increase of 50% compared to 2020 and the highest level ever recorded.

Source: Valor Econômico

To read the full original article, access the link below:

Higher and higher records for soy | Agribusiness | Economic Value (globo.com)

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