February 15, 2005

Brazil's Celeres forecasts US$10.48b in 2005 soy complex exports

Brazil's 2005 soy complex export revenue will total US$10.48 billion, according to a forecast from the C¨¦leres agribusiness wing of the MPrado consulting firm.

This represents an increase of 6.7% on 2004.

The increased revenue forecast for 2005 is due to expectations of a 27.5% higher volume shipped, given that international prices of this type of commodity are falling.

Soybeans will account for 55.2% of revenue for the complex, according to C¨¦leres. Meal will be at 30.7% and oil at 14.1%.

C¨¦leres also revealed that the Brazilian soy market is ever more dependent on exports.

In contrast to the US$10.48 billion figure foreseen by C¨¦leres, the latest forecast for 2005 soy complex export revenue from the Brazilian Oilseeds Association (Abiove) is US$8.89 billion.