June 2, 2006

 

Brazil's May soybean exports rise to 3.2 million tonnes

 

 

Brazilian soybean exports for May totalled 3.2 million tonnes, up roughly 300,000 tonnes in comparison to April when 2.9 million tonnes were shipped internationally, the Foreign Trade Ministry reported Thursday (Jun 1).

 

May soybean exports were also greater than the May 2005 total of 2.3 million tonnes.

 

Daily export averages fell in comparison to April as international price pressures and farmer protests in the centre-west soy belt likely led to the reduced daily volume of 144,100 tonnes compared to the 161,900 tonne daily average in April. Brazil shipped an average 109,400 tonnes per day in May 2005, mostly due to a much smaller crop.

 

Brazil harvested close to 51.4 million tonnes of soy in the 2004/05 season and is expected to harvest 55.2 million tonnes in the 2005/06 season, according to the National Commodities Supply Corp of Brazil's Agriculture Ministry.

 

Revenue from soy exports rose slightly even as international prices and the US dollar fell against the Brazilian real. May soybean revenues hit US$695 million in comparison to April's revenue of US$653 million and May 2005's revenue total of US$527 million.

 

Soymeal export volume rose only slightly in May to 774,200 tonnes compared to 760,000 tonnes in April. Volume totals are lower than May 2005 shipments of 1.4 million tonnes.

 

Although the trade figures do not give a reason for the drops, soymeal declines are likely due to the projected decline in chicken production and chicken meat consumption in nations hit with bird flu. Soymeal is used as chicken feed. Moreover, the trend has been for Brazil to export less soymeal year over year due to competition from Argentina, the soy crushing industry has said.

 

Daily volume of soymeal dipped to 35,200 tonnes in May, compared to 42,200 tonnes in April and 64,700 tonnes in May 2005.

 

Soymeal revenues have fallen in comparison to May 2005, at US$143.3 million currently, compared with US$264 million last year. Revenues are up marginally in comparison to April figures.

 

Soyoil exports declined to 95,200 tonnes in May compared to 102,800 tonnes in April and 187,800 tonnes in May 2005.

 

Daily soyoil volume fell to 4,300 tonnes compared to 5,700 tonnes in April and 8,900 tonnes in May 2005. Revenue is down on the month at US$44.8 million, compared to US$48 million in April and US$89 million in May 2005.

 

Brazil's soy market revenue is dropping on the year and only slightly higher than April. May revenues hit US$848 million, up US$4 million from April but down from the US$880 million in soy market revenues posted last May.

 

Soy is Brazil's top food commodity export in both volume and value.

 

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