January 30, 2004

 

 

Brazil 2004-05 Soybean Export Registrations Up

 

Soybean export registrations for Brazil's upcoming 2004-05 marketing year (February-January) are catching up with levels seen last year, according to official figures released Thursday.

 

Government figures made available by the Brazilian Association of Vegetable Oil Industries, or Abiove, show registrations of soybean exports for 2004-05 totaled 7.116 million metric tons to Jan. 15, down 3.0% from the 7.334 million tons registered at the same stage of the previous year.

 

Registrations moved forward by 653,000 tons during the first half of January, faster than the 215,000 tons recorded in the same period last year.

 

Exporters will have much more soy to place this year, according to analysts. Soybean exports will jump 17% next season to 25.2 million tons, said Abiove.

 

Soymeal registrations for the 2004-05 season stood at 1.771 million tons on Dec. 31, massively lower than the 3.987 million tons registered exactly one year before.

 

Soyoil registrations stood at just 300,000 tons for this year compared with 611,000 tons last year.

 

Meanwhile, registrations for current-crop soybean exports actually fell due to end of year adjustments.

 

Exporters had registered some 20.502 million tons for shipment in the 2003-04 marketing season up to Jan. 15, up from 16.179 million tons registered at the same point last season.

 

Abiove expects bean exports to reach 21 million tons in the February- January period compared with 16.074 million tons last year.

 

Soymeal registrations fell to 14.511 million tons up to Jan. 15, but still higher than the 12.832 million tons registered at the same point last

year.

 

Soymeal export registrations have already surpassed the 14.1 million tons Abiove forecast for this season.

 

Registrations for soyoil totaled 2.596 million tons for the 2003-04 crop up to Jan. 15, ahead of the 2.136 million tons registered at the same time the previous year.

 

Soyoil exports were expected to reach 2.4 million tons this season, up from 2.08 million tons in 2002-03, according to Abiove figures.

 

Brazil is the world's second-largest producer of soybeans and their derivatives.

 

Brazil places no obligations to export registered produce.