According to the updated data of Abiove experts, Brazil can export 99 mln tonnes of soybeans in 2023, which is 500 thsd tonnes higher than the previous month’s estimate, due to the strong demand of China for the oilseed, Nasdaq reports.
In addition, the analysts raised the forecast of the Brazilian soybean crop to 157.3 (+0.3) mln tonnes.
It is noted that the expected export volume will significantly exceed the result achieved in 2022 – 78.7 mln tonnes with a harvest of 129.9 mln tonnes.
The forecast of soybean processing volumes in Brazil was left unchanged by Abiove experts at 53.5 mln tonnes (50.9 mln tonnes in 2022).
Source: Apkinform