January 11, 2008

Brazil to reign as top soy exporter in 10 years, over US

Brazil is predicted to surpass the US as the leading soy exporter in the world in 10 years, as the country's soy embarkations will double from a base of 25.6 million tonnes in 2006/07 to 50.5 million tonnes by 2017/18. 

The Agriculture Ministry of Brazil forecasts a positive scenario for the soy industry as the US international sales for soy is expected to fall from 30.4 million tonnes to 25 million tonnes during the next 10 years.

Brazil will accompany the growth trend of the international market, the global exports of which should rise from 64.1 million tonnes to 85 million tonnes in a decade.

Reinhold Stephanes, agriculture minister, said that along with soy, corn will also contribute to the growth of exports from Brazil in the coming years.

The ministry took into consideration the escalating world demand, the strong increase in international per capital income and the increased usage of grain to produce clean energy.