January 5, 2007

 

Brazil's soy new-crop export registrations at 23 percent

 

 

Registrations of Brazilian soybean exports for the market year 2007/08 season hit 23 percent, or 5.85 million tonnes, of the country's estimated exports of 25 million tonnes as of Dec 31, said the Brazilian Vegetable Oils Industry Association, or Abiove, on Thursday (Jan 4).

 

Two weeks ago, Abiove pegged Brazil's new crop soy export registrations at 5.2 million tonnes, or 21 percent of the country's estimated 2007/08 exports.

 

By comparison, just under 2.8 million tonnes of soybeans were registered for export at this time last year, or just 11 percent in market year 2006/07.

 

Abiove currently pegs Brazil's upcoming 2006/07 soy crop--which will be sold in the market year 2007/08 (February-January)--at 55.2 million tonnes, and its crush at 27.8 million tonnes.

 

By contrast, the country's 2005/06 crop--which is sold in the market year 2006/07--has been pegged at 55.7 million tonnes, and its crush at 28.1 million tonnes.

 

Roughly 9.1 percent of Brazil's estimated soymeal exports have also been registered by Dec 31, or roughly 1.08 million tonnes out of a forecast of 11.8 million tonnes of total exports.

 

Two weeks ago, 975,000 tonnes had been registered, or about 8.3 percent of Abiove's estimated soymeal exports.

 

At the same time, 9.5 percent of Brazil's estimated soyoil exports have also been registered by Dec 31, or 171,000 tonnes, up from the 162,000 tonnes registered two weeks before.

 

Abiove estimates that Brazil will export 1.8 million tonnes of soyoil in market year 2007/08,

 

By this time last year, Brazil registered just 3.8 percent of its estimated soymeal exports, or 473,000 tonnes out of the expected 12.4 million tonnes of soymeal exports for the 2006/07 market year.

 

By Dec 31 last year, Brazil also registered just 1.5 percent, or 34,000 tonnes, of its estimated market year 2006/07 soyoil exports of 2.25 million tonnes.

 

While registrations are more advanced for the new crop, all of Abiove's export estimates for the new crop are currently below last year's estimates.

 

Brazil is the world's no. 2 soybean producer after the US.