Brazil’s Paraná state set to overtake all of Argentina in soybean production

In 2023, the Brazilian state of Paraná is projected to produce more soybeans than Argentina.

Paraná, holding the title for the second-largest grain crop in Brazil, is estimated to yield around 2 million tons more soybeans than Argentina this year.

As per the National Supply Company, Paraná’s harvest is anticipated to be slightly over 22 million tons.

In contrast, according to the Rosario Stock Exchange, Argentina’s soybean production is forecasted at 20 million tons.

Factors contributing to this shift include Paraná’s record-breaking yield in 2023, while Argentina contends with a drought, potentially halving its local crop.

Furthermore, another Brazilian state, Mato Grosso, is leading in soybean production, aiming for 45 million tons in 2023.

Collectively, Paraná and Mato Grosso are on track to produce nearly 70 million tons.

Additionally, Paraná boasts the Paranaguá Port, a significant export route for Brazilian soybeans.

Last year, it accounted for approximately 12% of all waterborne soybean exports, channeling 10 million tons.

Of this volume, about 60% originated from states outside Paraná, with Mato Grosso contributing 1 million tons and Paraná exporting 3 million tons through the Paranaguá Port.

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