Brazil increases exports of soybeans and makes up for the poor harvest in Argentina
Brazil is intensifying the export of soybeans and since the beginning of may has already shipped of 5.34 million tons, and in may, according to estimates by Oil World, the exports may reach a record 11.2-11.5 million tons.
High demand for Brazilian soybeans will continue until the end of August, which will allow for may-August export 38,65 million tons, which is 5.6 million tons higher than the figure recorded same period 2017
in General, in 2018, the country can supply on world markets 71.8 million tons of soybeans that will be a record of the last 4 years.
Experts Oil World forecast soybean production in Brazil to 2018 at 118 million tonnes, 4 million tonnes will exceed the crop of 2017.
Dimensions ABIOVE has raised its estimate of soybean production in Brazil to 2018 with 117,4 to a record high of 118.4 million tonnes.
in addition, experts predict a decline in soybean production in 2018 in comparison with last year:
in Paraguay – from 10.3 to 9.7 million tonnes,
in Bolivia, from 2.7 to 2.6 million tons,
in Uruguay – from 3.4 to 1.85 million tons.
- in Argentina - from 54.6 to 36.5 million tons,
For the Argentina production forecast again reduced by heavy rainfall, which hampered harvest and can severely damage crops that have long suffered from drought.