February 3, 2004

Brazil Soybean Exports Up 39.5% In January

Brazil's soybean exports totaled 342,800 metric tons in January, up 39.5% from 245,800 tons in the same month last year, according to preliminary figures issued by the government's Foreign Trade Secretariat, or Secex, on Monday.

January shipments were slightly higher than December's exports of 335,500 tons.

Brazil produced a record soybean harvest of 52 million tons at the start of last year. January is the last month of the marketing cycle.

January soymeal exports were down 5.8% on the year at 973,300 tons. Exports also were lower than the 1.29 million tons sent abroad in December.

In January, Brazil shipped 137,300 tons of soyoil, down 35.4% from the 212,600 tons exported in the same month last year and also lower than 187,300 tons exported in December 2003.

Brazil is set to become the world's leading soybean exporter this year.