Soybean: following record exports, imports from Brazil may reach an all-time high in 2022

Brazilian soybean exports lost pace after a quarter with expressive numbers. From January to March this year, the country’s soybean shipments totalled 22 million tonnes vis-a-vis 15.4 million tonnes in the same period in 2021, according to data from the Foreign Trade Secretariat (Secex).

Considering all 2022 shipments through April 10, Brazil exported 24.1 million tonnes of soybeans, earning a revenue of US$ 12.6 billion.

Given the numbers obtained so far, the content director of Canal Rural, Giovani Ferreira, says that the 2022 soybean export forecast should not exceed the volume of shipments registered last year, of 86.1 million tonnes. He also highlights the reason for the reduction in shipments.

“We just left a larger harvest period with 140 million tonnes to a context that should be below 120 million this year. In addition, we have seen a reduction in the volume of foreign sales in March,” he says.

See below the year-on-year comparison of Brazilian soybean exports from 2019 to 2021. The data are from DataLiner.

Brazilian soybean exports (HS 1201) | 2019/2020/2021 | WTMT

Source: DataLiner (click here to request a demo)

As for soy bran, considering the full year until April 10, nearly 5 million tonnes were exported, bringing revenue of US$ 2.3 billion.

“We have the possibility of reaching the export record of 17.2 million tonnes seen in 2021, but given the lack of soybeans, it will also be difficult to guarantee the proper supply of grains to be crushed,” recalls the content director of Canal Rural.

In terms of soy oil, 600 thousand tonnes were shipped in the year, generating US$ 800 million in revenue. In the first quarter of 2022, there were 480 thousand tonnes, compared to 210 thousand tonnes in 2021.

Can soybean imports reach a new record?

If Brazilian soy exports were a record last year, in 2022, the volume of imports could be unprecedented. In 2021, Brazil imported 252 thousand tonnes, while the accumulated result for the year until April reached 193 thousand tonnes.

“In terms of imports, we should surpass the record observed in the past. There will be no shortage of soybeans but very high demand. If we don’t produce the grain domestically, we’ll get it from neighbouring destinations, such as Argentina and Paraguay, which also had problems with the climate”, Ferreira points out.

Source: Canal Rural

To read the full original article, please go to:

https://www.canalrural.com.br/noticias/agricultura/china-reduz-em-18-importacoes-de-soja-em-marco/

Sharing is caring!