By Nayara Figueiredo
SAO PAULO (Reuters) – Brazilian soybean exports are expected to total 85.5 million tonnes in 2022, down 1% year-on-year, consultancy Safras & Mercado estimated on Wednesday, with a cut of 4.5 million. tons compared to the previous forecast due to drought losses in southern crops.
In addition, expectations for shipments may decline further, if damage to crops that are impacted by the La Niña weather phenomenon advance.
“The reduction is a consequence of the revision in the harvest estimate, hampered by the prolonged drought in the southern region of the country. If we reduce production more, we will have to cut exports more”, said analyst at consulting firm Luiz Fernando Roque.
This month, Brazilian production of soybeans 2021/22 was estimated by Safras at 132.33 million tons, down 8.55% from the previous projection. With this, the consultancy began to see a 4.2% indentation compared to last season’s harvest, which was a record.
Crushing of the oilseed should reach 47.5 million tons in 2022, versus 46.5 million in 2021. Imports are estimated at 1 million tons in 2022, with an increase of 16%, indicated the survey.
According to Roque, foreign purchases also have a chance to grow through more intense breaks in the national harvest, but in limited proportions, since grain suppliers in South America face the same climatic problems as the South of Brazil.
“The losses in South America are not just in Brazil, but in Argentina, Paraguay and Uruguay, so the region’s exportable surplus is smaller,” he said.
In this scenario, ending stocks of the largest global producer and exporter of the oilseed are expected to drop 56%, from 5.8 million to 2.53 million tons this year.
BY-PRODUCTS
Safras projects a production of soybean meal of 36.55 million tons, with an increase of 3% in the annual variation. Exports are expected to rise 6% to 18.2 million tonnes, while domestic consumption is projected at 18.3 million, up 2%.
Soybean oil production is expected to increase by 3% to 9.65 million tons.
Brazil is expected to export 1.7 million tons of oil, with a gain of 3% over the previous year, and domestic consumption should drop 2% to 8 million tons.
(By Nayara Figueiredo; edited by Marta Nogueira and Alexandre Caverni)
know more
+ SP: Man dies standing, leaning against car, and scene scares residents on the coast
+ One twin became vegan, the other ate meat. Check the result
+ Reincarnation in history: an age-old belief
+ Andressa Urach asks for money on the internet: ‘Help me pay my card bill’
+ Horoscope: check today’s forecast for your sign
+ CNH: see what you need to know for the application and renewal
+ See which were the most stolen cars in SP in 2021
+ Expedition identifies giant squid responsible for ship sinking in 2011
+ Everything you need to know before buying a crockpot
+ US Agency warns: never wash raw chicken meat
+ What is known about fluorone?
+ Trick to squeeze lemons becomes a craze on social media
+ IPVA 2022 SP: see how to consult and pay the tax
#Brazils #soybean #exports #fall #855mt #drought #Safras #Mercado #ISTOÉ #DINHEIRO