RIO DE JANEIRO, BRAZIL – Brazilian soybean exports in April were estimated today (05) at 11.12 million tons, down 29% from the record for all months of 15.67 million tons in the same period last year, according to the National Association of Grain Exporters (Anec).
After starting the year with higher soybean shipments in January and February, which had a weaker basis for comparison than 2021, Brazilian exports fell 2.7 million tons in March compared to the same month last year, as the national crop fell sharply due to drought.
With the decline expected in April, Brazilian soybean exports at the end of the four-month period are expected to total 34.68 million tons, about 1.5 million tons lower than the same period in 2021, according to Anec.
The indicated decline came after the country lost some shipments to the United States during a period when it normally dominates exports to China, the world’s largest importer of oilseeds.
Several analysts and the industry association Abiove itself have cut Brazilian export forecasts for soybeans to below 80 million tons in 2022, down from a record 86.6 million tons in 2021.
For soybean meal, exports in April are expected to rise by more than 300,000 tons year-on-year to 1.9 million tons – despite a drop in soybean exports, good margins have maintained processing in the country.