São Paulo – Brazil is expected to harvest 120 million tons of soy during the 2019/2020 season, according to the Mato Gross State Soy and Maize Producers Association (Aprosoja). The April edition of the Crop Forecast bulletin was released this Tuesday (14). The forecast is more modest than last March’s 120.6 million-ton prediction. The association pulls together data from technicians and farmers in 16 different states of Brazil.
This year should see soy exports go up 4 million tons from 2019 to 77 million tons. To date this year, sales have amounted to 60% of the current crop and 10% of the upcoming one.
March saw a novel export record at 13.3 million tons shipped. Pricing is driving sales to China, with 60 million tons exported in 2019. This year should see sales fall in the 60-66 million-ton range.
Brazil accounts for 50% of global soy exports, and soy makes up 40% of agribusiness exports from Brazil. Aprosoja said domestic demand for soy was fueled by meat exports.
Translated by Gabriel Pomerancblum
