Porto Alegre, March 21, 2022 – Brazilian soybean exports from Brazil must hit 78 mln tons in 2022, down from the 86.1 mln indicated for 2021. The forecast is part of the Brazilian supply and demand estimate, released by SAFRAS & Mercado on March 14, indicating a decline of 9% between one season and another.
In the previous report for exports, released at the end of February, the forecast was 80.5 mln tons. The reduction occurs due to production losses in the Brazilian crop this season. Brazilian production is estimated at 125.076 mln tons in the 2021/22 crop.
SAFRAS indicates the crush at 47.5 mln tons in 2022 and 46.5 mln tons in 2021. The increase is projected at 2%. There was no change from the February forecast. SAFRAS indicates imports of 1 mln tons, with an increase of 16% over the previous year.
As for the 2022 season, the total supply of soybeans is expected to hit 131.86 mln tons, down 7%. Total demand is projected by SAFRAS at 129.1 mln tons, down 5% from the previous year. In this way, ending stocks must drop by 52%, from 5.8 to 2.77 mln tons.
SAFRAS estimates the soymeal output at 36.55 mln tons, with an increase of 3%. Exports are expected to rise 6% to 18.2 mln tons, while domestic consumption is projected at 18.3 mln, up 2%. Stocks are expected to rise 3% to 1.96 mln tons.
Soyoil production is expected to increase by 3% to 9.65 mln tons. Brazil must export 1.7 mln tons, with a gain of 3% over the previous year. Domestic consumption is expected to drop 2% to 8 mln tons. Use for biodiesel is expected to drop by 2% to 4.1 mln tons. The forecast is for stocks to rise 29% to 223,000 tons.
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