Brazilian new crop exports may reach 90 mln tons of soybeans
Porto Alegre, August 16 2021 – Brazilian soybean exports must total 90 mln tons in 2022, above the 86 mln projected for 2021. The forecast is part of the Brazilian supply and demand framework, released by SAFRAS & Mercado, and indicates an increase of 5% between one season and another.
The possibility of Brazil harvesting a new record crop added to the recovery of the world economy in a post-Covid moment must allow new record exports, besides positively impacting the crush, which must also benefit from the resumption of a greater mixture of biodiesel in the country.
SAFRAS indicates the crush at 48.5 mln tons in 2022 and 46.7 mln tons in 2021. The increase is projected at 4%. SAFRAS indicates imports of 400 thousand tons in 2022, 53% lower.
As for the 2022 season, the total soybean supply must rise 5%, going to 147.41 mln tons. Total demand is projected at 142.1 mln tons, up 4% from the previous year. Thus, ending stocks must rise 11%, from 4.77 to 5.31 mln tons.
SAFRAS estimates the soymeal production at 37.26 mln tons, with an increase of 4%. Exports must rise 3% to 17.5 mln tons, while domestic consumption is projected at 18.5 mln, 6% higher. Stocks must rise 46% to 4.03 mln tons.
Soyoil production must increase 4% to 9.84 mln tons. Brazil must export 1 mln tons, down 13% from the previous year. Domestic consumption must rise by 2% to 8.95 mln tons. The use for biodiesel must increase 4% to 4.7 mln tons. The forecast is for stocks to fall 5% to 207 thousand tons.
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