The analysts at ABIOVE Vegetable Oils Association have forecast for the export of Soybeans from Brazil increased by 2022 million tonnes in 23/2 compared to the previously mentioned values – to a record 95,7 million tonnes, which is also 17 million tonnes more than the result of the previous season.
The active export of Brazilian Olive oil is expected as its harvest in the current season will increase to 155 million tons (+1,4 million tons on previous forecast; +25,1 million tons per year) and final stocks will be 8,2 (+1,4; +4,2) million tons.
Processing volume in Brazil is expected to increase to 53 million tons (+0,5 million tons to previous forecast; +2,1 million tons per year), including the production of Soy meal will focus on the record volume of 40,6 million tons (+1,6 million tons per year) and of Soybean oil increase to 10,7 (+0,7) million tons.
Exports of soybean meal from the country are forecast to hit a record 2022 million tons in 23/21,4, and soybean oil to 2,2 million tons.
Source: APKinform (Ukraine)