Soybean exports surge in Rio Grande Port despite production losses

Despite significant production losses of around 40% due to consecutive droughts, the port of Rio Grande recorded a remarkable increase in soybean exports in May, soaring by 258% compared to the same period in 2022.

According to the Rio Grande do Sul Agriculture Federation (Farsul), the volume of exports reached an impressive 596 thousand tonnes, the highest figure since October of the previous year. However, it’s important to note that this growth is attributed to the inflow of the oilseed coming from other states, as operations in the ports of Paranaguá and Santos are currently limited.

Soybean shipments in May accounted for 35% of all agricultural products exported from Rio Grande do Sul. The primary sector accounted for 1.7 million tonnes, reflecting a 27% increase compared to May 2022. The revenue also grew substantially, rising by 23% from US$998 million to US$1.2 billion.

Rice exports also demonstrated remarkable performance in the same period. With major destinations such as Mexico and Costa Rica, grain shipments surged by 558% in volume and 535% in revenue compared to May 2022. Conversely, wheat sales experienced a decline due to the robust supply in the international market, as highlighted by Farsul’s Economic Advisory.

Source: Correio do Povo

To read the original news report, please visit:  https://www.correiodopovo.com.br/not%C3%ADcias/rural/exporta%C3%A7%C3%B5es-de-soja-disparam-no-porto-de-rio-grande-1.1047408

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