Brazil exported a record volume of soybean meal and reduced oil shipments

Soybean meal exports from Brazil in September totaled 2.08 million tonnes, compared to 1.9 million tonnes the previous month and 1.75 million tonnes in September 2024, according to data from the consulting agency Oil World (Germany). Since the beginning of the year, total soybean meal exports from Brazil have reached a record 17.4 million tonnes, up 1.5% from January-September 2024.

The largest buyers of the product were the EU countries, with 1.02 million tonnes shipped to them in September (0.94 million tonnes the previous month and 0.76 million tonnes in September last year). A total of 3.03 million tonnes of meal have been shipped to EU countries since the beginning of the year. Thailand ranked second among buyers of Brazilian products, with 349,000 tonnes (295,000 and 194,000 tonnes, respectively), followed by Indonesia, with 251,000 tonnes (286,000 and 302,000 tonnes).

Meanwhile, soybean oil shipments declined in September due to increased domestic demand for biodiesel. Exports totaled only 64,000 tons, down from 158,000 tons in August and 89,000 tons a year earlier, of which 38,000 tons went to India and 10,000 tons to China. Shipments to both countries also decreased compared to last year.

Total Brazilian soybean oil exports since the beginning of this year amounted to 361,000 tons, down from 403,000 tons in January-September last year.

Previously, ANEC analysts estimated Brazilian soybean exports at a record 102.2 million tons by the end of October and 110 million tons by the end of the year. The strong harvest and the withdrawal of the country’s main competitor, the United States, from the market contributed to these peak results.

Tags: Brazil, soybean, soybean meal