April 3, 2007

 

Brazil's March soy exports hits 2.05 million tonnes

 

 

Brazil's March soybean exports rose to 2.05 million tonnes compared with 774,800 tonnes exported in February, the Foreign Trade Ministry said Monday (Apr 2).

 

March 2007 exports declined in comparison to March 2006 exports of 2.6 million tonnes, however.

 

Daily export averages were 93,400 tonnes, compared to 43,000 tonnes last month.

 

Total March export value from soybeans was US$561.8 million, compared with US$206.6 million in February and US$620.4 million in March 2006. Average prices paid per tonne were US$273.50 per tonne compared to US$266.60 in February and US$245.50 in March 2006.

 

Soymeal exports rose to 992,400 tonnes in March compared with 642,100 tonnes in February, but down 1.06 million tonnes in March 2006.

 

Soyoil exports rose substantially, hitting 156,700 tonnes compared to 56,500 tonnes in February and 125,500 tonnes in March 2006.

 

China, Spain, Italy and the Netherlands were the top soybean importers for the month of March.

 

France, the Netherlands, Iran and Thailand were the top soymeal importers. Iran, China, Morocco and the Netherlands were the big soyoil buyers in March.

 

Exports of soy and its derivatives are rising as expected as Brazil's 2006/07 soy harvest continues. The country should harvest 56.7 million tonnes of soybeans, according to official estimates.

 

Brazil is the world's no. 2 soy producer behind the US.