Record soy exports forecast for 2021

An analysis by DATAGRO Consulting indicates a strong increase in the soy complex to be shipped this year given the current projection for the 2020/21 harvest of 136.9 million tons, 7% more than the previous season when 128.1 million tons were harvested.

The estimate for total shipments during 2021is 106.5 million tons, up 5.0% from last year’s 101.4mt.

To reach this record total, the export forecast is for 87.5 million tons of soybeans (+4.9%); 18m tons of soybean meal (+6.1%), and 1.05 million tons of soybean oil (-5.3%).

The chart below, made with DataLiner resources, shows a history of Brazilian soybean exports from 2016 onwards. Data are from DataLiner:

Brazilian Soy Export (HS 1201 and 2304) | Jan 2016 to Apr 2021 | WTMT

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

Due to this good forecast of an increase in the total volume to be shipped, DATAGRO indicates that the total revenue to be obtained from exports of the Brazilian soy complex in 2021 is again expressive and probably well above the 2018 record, totaling US$ 45,583 billion, 28.8% higher than the 2020 revenue. That would be US$ 36.575 billion from the sale of soybeans (+27.3%); $7.848 billion from soybean meal sales (+33.6%), and $1,160 billion from soybean oil sales (+52.4%).

The trend is for an increase in the participation of the soy complex in the country’s general export agenda. For a total revenue currently projected at US$ 222,000 billion, the sector would contribute with 20.5%, a proportion well above the 16.9% in 2020 and 17.0% of the 2018 record.

Source: Ports Newsletter

To read the full original article, visit the link: https://www.informativodosportos.com.br/exportacoes-do-complexo-soja-serao-recordes-em-2021/

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