USDA forecasts growth for Brazil in soybeans
Brazil will be one of the leading producers and exporters of soybeans in the next decade, according to long-term projections released on Monday by the USDA. Soybeans are now Brazil's leading commodity in both gross value of agricultural production and exports.
According to the USDA, Brazil's soybean exports will total 63.8 million tons in 2022/23, almost 76% more than in 2011/12 (36.3 million). This study in particular forecasts Brazilian exports in this 2012/13 harvest being taken in, at 37.4 million tons, but in other forecasts, such as its monthly supply and demand report on grains, released on Friday, the USDA stated 38.4 million tons.
Brazil's share of global soybean exports in 2022/23, estimated at 144.3 million tons, will be 44.2%. In 2011/12, with 89.3 million tons, it was 40.6%. The USDA has forecast a fall in the Brazil's share of global exports of soybean meal (from 24.9% in 2011/12 to 22.9% in 2022/23) and soybean oil (from 22.4% to 22.2% in the same period).
Information provided by Valor Econômico