Brazil’s soybean exports remain high in first week of May; sugar down

RIO DE JANEIRO, BRAZIL – Brazil’s average daily soybean exports reached 938,400 tons in the first week of May, up 33% over the same month in 2020, data from the Secretariat of Foreign Trade (SECEX) showed on Monday.

The oilseed’s largest global producer and exporter maintains the steady export rate seen in past weeks, when the daily average stood close to 1 million tons.

Heated exports which set a historical record of over 17 million tons in April come as Brazil heads toward the completion of the 2020/21 harvest and has a high volume of soybeans available for shipment.

Also according to SECEX, average sugar export sales reached 87,900 daily tons in the first week of the month, a drop from the 129,700 daily sales registered in May last year during Brazil’s peak sugarcane harvest.

The harvest started slower this year, with mills in the center-south dealing with the impact of a prolonged drought on crops.

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