Soybean virus production in Brazil will be record high – ABIOVE
On June 15, the Brazilian Vegetable Oil Association (Abiove) released a new forecast, projecting that soybean meal production in Brazil will increase by nearly 7% this year, reaching a record high of 47.6 million tons, amid a record harvest.
Soybean oil production will also reach a record high of 12.5 million tons, up 1.2% from last year.
A total of 62.2 million tons of soybeans will be crushed in Brazil. The soybean harvest will exceed 180.1 million tons, 5% more than the previous year. Favorable factors included good weather and strong global demand for soybean meal and oil.
Brazilian soybean exports will increase by 5.2% compared to 2025, reaching 139.75 million tons. This includes 113.6 million tons of soybeans, 24.6 million tons of meal, and 1.55 million tons of soybean oil.
Revenue, on the other hand, will decline by 3.2% to $51.18 billion (RUB 3.7 trillion), due to falling global prices.
The forecast for the average global soybean price for this year has been lowered by 8.1% to $370 (RUB 27,000) per ton, and for soybean meal by 11.7% to $300 (RUB 21,500). The exception will be soybean oil, which will increase in price by 7.3% to $1,140 (RUB 82,500).
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