March 3, 2005

Brazil's 2005 soy complex export revenue down by 9.4 per cent

According to a forecast out on Wednesday from the Brazilian Oilseeds Association , Brazil's 2005 soy complex export revenue should come in at $9.1 billion down by 9.4 percent on the $10.05 billion of 2004.

The reduction is due to lower international prices, as soy exports from Brazil are expected to rise in volume in 2005.

Soybean export revenue in 2005 is forecast at $4.9 billion, down 9 per cent on 2004. Average price in 2005 is seen falling 21 per cent to $220/tonne, while volume shipped is expected to rise 15 per cent to 22.3 million tonnes.

Soy meal export revenue is expected to fall 12% to $2.8 billion, based on an average price of $185/tonne (-18 per cent) and 15.4 million tonnes shipped (+6 per cent).

Soy oil export revenue is expected to drop by 2.7% to $1.3 billion, from an average price of $480/tonne (-12 per cent) and 2.8 million tonnes shipped (+11 per cent).