Brazil soybean exports reach record levels

Soybean exports from Brazil are forecast to reach a record 97 million tonnes in 2022/23, according to latest estimates by the Brazilian Association of Vegetable Oil Industries (Abiove).
June’s estimate for Brazilian shipments was 95.7 million tonnes and the new estimate was 23.2% higher than the previous year’s total of 78.7 million tonnes, the 27 June report said. The association also said it expected Brazilian soybean production to reach a record level of 156 million tonnes in 2022/23, which would be an increase of 1 million tonnes compared to its earlier estimate and 20% higher than the previous year.
Abiove previously estimated Brazil’s production at 155 million tonnes, while in 2021/22 the South American country harvested 129.9 million tonnes.
Soybean crushing was estimated at a record level of 53.2 million tonnes, an increase of 200,000 tonnes compared to the previous report and 4.5% higher than 2022’s total of 50.9M tonnes.
From January to April, soybean crushing in Brazil totalled 16.6 million tonnes, an increase of 3.5% compared to the 16.1 million tonnes crushed in the first four months of 2022.