SAFRAS reduces Brazilian soybean exports to 80.5 mln tons in 2022
The cut in the Brazilian soybean production to 127.2 mln tons naturally forced an adjustment in demand at national level. The lower production ended up hindering exports, which should fall to 80.5 mln tons in 2022, down 7% from 86.1 mln tons shipped in 2021. The forecast is part of the picture of Brazilian supply and demand, updated by SAFRAS & Mercado on February 25.
Even with the cut in exports, ending stocks must fall to 2.37 mln tons, down 59% from the end of the previous cycle, with reserves being below the 2020 season. This tight supply justifies the market firmness.
Read also
Pumpkin seed shortage hits the EU as demand outpaces supply
Why China wants Indonesia’s palm oil
Canadian Cattle Association calls for end to temporary U.K. trade deal
Palm oil falls for third session on weaker rivals
European soybean buyers cautious as EUDR timeline creates market uncertainty: Platts
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon