August 5, 2009

Brazil's soy exports dipped to 3.3 million tonnes in July from 3.9 million tonnes the same month a year ago.

That also put July exports significantly below the 6.1 million tonnes exported in June, the Foreign Trade Ministry said Monday (Aug 3).

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

The soy trade brought in US$1.4 billion to Brazil in July compared to US$2.5 million in June and US$1.9 billion in July 2008.

Exports trailed off in July as producers and buyers had already traded a large amount of soy earlier in the previous months. Unattractive soy prices also failed to tempt the remaining Brazilian sellers to part with their beans in July.

Brazil is in the inter-harvest period for soy.

Brazil in July also shipped 1.32 million tonnes of soymeal, a soy derivative used in animal feed and other food products, compared to 1.38 million tonnes in June and 1.38 million tonnes in July 2008.

Soyoil exports reached 218,200 tonnes in July compared to 162,000 tonnes in June and 266,200 tonnes in July 2008.