April 4, 2007

 

Brazil new soy crop export registrations at 46 percent

 

 

Registrations of Brazilian soybean exports for market year 2007/08 are 46 percent, or 11.9 million tonnes, as of March 31, the Brazilian Vegetable Oils Industry Association, or Abiove, said Tuesday (Apr 3).

 

In its March 15 estimate, Abiove said Brazil had 10.8 million tonnes of soybeans registered for export.

 

By comparison, some 10.08 million tonnes of soybeans were registered for export at this time last year, or 41 percent in market year 2006/07.

 

These export registration figures are for the current 2006/07 soy crop, which is sold between February 2007 and January 2008.

 

Abiove put Brazil's 2006/07 soy crop at 58.6 million tonnes.

 

Some 30 percent of Abiove's soymeal export estimate has been registered, or 3.7 million tonnes. The number is up from the 3.2 million tonnes registered two weeks prior.

 

Another 32 percent of Abiove's soyoil export estimate has been registered for export, or 663,000 tonnes compared with 500,000 tonnes two weeks ago.

 

Abiove estimates Brazil will export 26.3 million tonnes of soybeans, 12.7 million tonnes of soymeal and 2.1 million tonnes of soyoil in market year 2007/08. Only soyoil exports are expected to decline on the year.

 

Registrations are sales commitments, but do not necessarily reflect actual final market year numbers because registration commitments can be aborted.

 

Brazil is the world's no. 2 soybean producer after the US.