Brazil Soy Exports from the Port of Paranagua off to a Slow Start
The soybean harvest in Brazil has gotten off to a slow start with just 15% of the crop harvested as of late last week compared to 31% last year. The slow harvest pace translates to a slow start to soybean exports from the Port of Paranagua, which is Brazil’s second largest port after the Port of Santos.
Soybean exports from the Port of Paranagua in the state of Parana in southern Brazil are traditionally slow during the months of January and February, but this year the exports have been slower than normal. Brazil’s soybean exports during January of 2021 were the lowest since 2014 at only 49,500 tons. This represents a reduction of 95% compared to January of 2020 according to the Foreign Trade Secretariat (Selex).
During the first two weeks of February, Brazil exported 550,000 tons of soybeans compared to 6 million tons during the same period last year. Up until February 15th, only 8% of the 15.9 million tons of soybeans in the lineup had been shipped.
Authorities at the Port of Paranagua are expecting a quick acceleration of soybean exports in early March. On February 1st, only 221 trucks carrying soybeans entered the port. On February 11th, the number had increased to 793 and on February 14th, it had reached 1,700 per day. By the first week of March, the port is expected to unload approximately 2,000 trucks per day.
During the slow export period, the port conducted all they annual maintenance and upgrades of essential equipment. The port is now expected to operate at capacity for the next five or six months. In addition to soybeans produced in the state of Parana, the port receives soybeans from Mato Grosso, Mato Grosso do Sul, Sao Paulo, Santa Catarina, Minas Gerais, and Rio Grande do Sul
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