February 6, 2009
Brazil's 2008-09 soy seen 4.7 percent lower on-year at 52.7 million tonnes
Brazil should harvest 57.2 million tonnes of soy in the 2008-09 crop year, the National Commodities Supply Corp, or Conab, said Thursday (February 5).
The number is slightly below Conab's previous estimate January 8 that put the soy crop at 57.7 million tonnes for 2008-09 compared to 60 million tonnes from the 2007-08 soy crop.
Planted area is seen at 21.2 million hectares in 2008-09 compared to 21.3 million hectares in the 2007-08 season, Conab said.
The planting is almost completely finished and the harvest has recently started in states such as Mato Grosso, Brazil's No.1 soy producer.
Conab registered further losses in Parana, Brazil's No.2 soy producer, since its previous crop estimate. The south of Brazil faced a prolonged dry spell between November and early January.
Brazilian soy farmers also complained that high costs for fertilisers ate into their margins, which restrained many from planting more soy or using more fertiliser in states such as Mato Grosso.
Conab's estimate is in line with private estimates of Celeres and Ceralpar of around 57 million tonnes.
Brazil is the world's No. 2 soy producer behind the US.
