Brazil’s soybean meal exports could set a record high

Anec forecasts Brazil’s soybean meal exports in 2024 to set a new record, surpassing the previous year’s high, thanks to expected strong shipments in December.

According to preliminary data, the country will ship 1.86 million tons of soybean meal in November (2.46 million tons in October; 1.94 million tons in November 2023). Accumulated exports from January to November will total 21.12 million tons, compared to 22.35 million tons for the same period in 2023.

“The country expects to export about 1.23 million tons of meal in December, bringing the total year-to-date shipments above last year’s level,” said Jean Budziak, head of market research at Anec.

USDA forecasts Brazil to become the world’s second largest exporter of soybean meal in MY 2023/24. Soybean processing in 2024-25 is estimated at 55.5 million tons, up 2.5% from 2023-24 volumes. The bean harvest will be 161 million tons, 6% more than last season.

For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.

It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.

You are welcome to get a 7-day free demo access!!!

Tags: soybean meal, Brazil