Abiove Lowers Brazil’s Soy Production, Increases Soy Oil Exports

The Brazilian Association of Vegetable Oil Industries (Abiove) trimmed their estimate of Brazil’s 2024/25 soybean production to 170.9 million tons, which represents an increase of 16.5 million tons compared to the 2023/24 crop.

Abiove left Brazil’s 2025 soybean exports unchanged at 106 million tons and it left the domestic consumption unchanged at 57.5 million tons.

They increased their estimate of Brazil’s soybean oil exports by 27% to 1.4 million tons due to the government’s decision to keep the biodiesel blend at B14. The mixture was expected to increase to B15 in March, but the government paused the increase to hold down food prices. Soybean oil is the main raw ingredient in biodiesel accounting for about 74% of the total.

The biodiesel blend was expected to increase to B15 in March and then to increase 1% per year until it reached B20. Biodiesel producers invested heavily in new plant construction anticipating the increased demand and they have repeatedly petitioned the government to keep their promise and gradually increase the blend percentage.

Due to the increased soybean oil export forecast, Abiove reduced their estimate of domestic soybean oil consumption by 3.8% to 10.1 million tons.

Tags: Brazil, soybeans, Production, biodiesel, forecast, consumption, estimate, exports, soybean oil