Strong soybean exports from Brazil, except to Russia

The world’s largest soybean exporter, Brazil, shipped 56% more soy and its derivatives in January 2019 compared to the same month last year, at 2.3m tons, according to the National Cereal Exporters Association (Anec). However, Russia may restrict soybean imports from Brazil unless pesticide usage (especially products containing glyphosate) is reduced. Less than 2% of Brazil’s soybean exports reached Russia last year. The following DataLiner graph shows soybean exports by the top three ports to Russia: 

Secex data shows Brazil exported 2.2m tons of raw soybeans in January, generating US$815m in export revenues, a seemingly impressive result considering Brazil is still in the beginning stage of its soybean harvest. 6m tons of shipments are already booked for February. China is still Brazil’s largest soybean buyer; the following graph shows Brazil’s soybean exports trend to China in the last ten years against the world, as follows: 

The Ministry of Agriculture has reported that the levels of glyphosate detected in the soy exported to Russia is 100 times lower than the level prescribed by the Codex Alimentarius standards guide, which is 20ppm. The Russian limit is 0.15ppm.

Sharing is caring!