March 6, 2006

 

Brazil exports 720,500 tonnes soybean in February

 

 

Brazilian soybean exports totalled 720,500 tonnes in February, compared with the 716,100 tonnes exported in January, according to preliminary figures issued by the Foreign Trade Ministry late Thursday.

 

February soybean exports were 74 percent more than the same period last year, when Brazil sold 413,800 tonnes internationally.

 

Even though Brazil's soy exporters sold more in volume in February, they saw revenue drop in comparison to January as average daily prices per tonne fell last month to US$238.20 per tonne compared to US$249.90 in January.

 

February soybean export value fell to US$171.6 million compared to US$179 million in January.

 

Brazilian soymeal exports continue to fall off, but February's drop off was exceptional, falling to 537,500 tonnes in comparison to 858,600 tonnes in January and 906,500 tonnes in February 2005.

 

Daily international price averages paid for Brazilian soymeal also fell on the month to US$206.40 per tonne, compared with US$212.80/tonne in January.

 

As a result, Brazilian soy crushers saw February revenue from exports fall to a total of US$110.9 million, compared to US$182.7 million in January and the US$168.3 million in February 2005.

 

Soyoil faired no better, with export volume falling to 119,200 tonnes in February compared to 129,600 tonnes in January, and 186,300 in February 2005.

 

Prices paid for Brazilian soyoil dropped to a daily average of US$429.80 per tonne in February, compared to US$432.90 in January, and US$476.20 in February 2005.

 

Total soyoil values dropped to US$51.2 million last month, compared with US$56.1 million in January and US$88.7 million in February 2005.

 

Brazil is the world's second largest soybean producer after the US.