Brazil cut soybean exports by 62% in January

According to customs data cited by AgCulture, Brazil reduced shipments of all major crops in January.

In particular, Brazilian soybean exports decreased by 62% y-o-y to 1.07 million tons, of which 99.95 thousand tons were shipped to China, 119.21 thousand tons to Thailand, 92.7 thousand tons to Iraq and 60.49 thousand tons to Spain.

Corn shipments decreased by 26.3% y-o-y to 3.59 million tons (4.87 million tons in January 2024). The main buyers of corn from Brazil in January were Iran (1.09 million tons), Egypt (870.82 thousand tons), Vietnam (313.85 thousand tons), Bangladesh (225.79 thousand tons) and Morocco (159.12 thousand tons).

Wheat exports also declined in the said month to 551.68 thousand tons (compared to 935.04 thousand tons in January 2024). Key buyers of Brazilian wheat were Vietnam – 315.95 thousand tons, Saudi Arabia – 131.33 thousand tons, Indonesia – 64.4 thousand tons and Ecuador – 36 thousand tons.

Earlier it became known that exports of soybean oil from Brazil in January fell by 30%.

Tags: Brazil, soybean, export