Porto Aelgre, November 16, 2021 – Brazilian soybean exports must total 90 mln tons in 2022, up from 86 mln projected for 2021. The forecast is part of the November update for the Brazilian supply and demand, released by SAFRAS & Mercado on the 9th, indicating a 5% increase between one season and another.
SAFRAS indicates the crush at 47.5 mln tons in 2022 and 46.5 mln tons in 2021. The increase is projected at 2%. SAFRAS indicates imports of 400 thousand tons in 2022, down 58%.
As for the 2022 season, the total supply of soybeans is expected to increase 5%, going to 150.296 mln tons. Total demand is projected by SAFRAS at 141.1 mln tons, growing 4% over the previous year. Thus, ending stocks should rise 77%, from 5.184 to 9.196 mln tons.
With regard to by-products, SAFRAS projects the soymeal production at 36.49 mln tons, an increase of 2%. Exports should rise by 3% to 17.5 mln tons, while domestic consumption is projected at 19 mln, 6% higher. Stocks are estimated at 2.059 mln tons.
Soyoil production is forecast to increase by 2% to 9.64 mln tons. Brazil is expected to export 1 mln tons, down 33% from the previous year. Domestic consumption should rise 5% to 8.85 mln tons. The use for biodiesel must increase by 6% to 4.5 mln tons. Stocks should fall 8% to 177,000 tons.
SAFRAS Latam