July 2, 2010
 

Brazil soy exports plunge to four million tonnes in June
 

Brazil's soy exports dropped to four million tonnes in June from 6.1 million tonnes a year earlier, the Foreign Trade Ministry said Thursday (July 1).

The latest figures were lower than the strong performance of 5.7 million tonnes of soy exported in May, the ministry said.

The soy trade brought in US$1.4 million to Brazil in June, compared to US$2.6 million a year ago and US$2 million in May.

In June this year, Brazil also shipped 1.4 million tonnes of soymeal, a soy derivative used in animal feed and other food products, compared with 537,500 tonnes in June 2009 and 1.5 million tonnes in May.

Brazil's harvest, which was completed in May, has seen steady demand throughout the year and especially strong exports in May. Many exporters have therefore already shipped their beans to destinations such as China, and slowed exports in June.

Brazil is the world's second-largest soy exporter behind the US, and soy brings in one of the biggest revenues for Brazil.