October 12, 2004

Brazil Soy Production To Top 140 Million MT By 2020

Brazilian soy production could reach 140 million metric tons by 2020, according to a study released by Brazil's development bank, or BNDES.

There is an additional 15 million hectares of land available in northeastern states of Bahia, Piaui, Maranhao and Tocantins where soy could be planted, according to economist Tagore Siqueira, who was responsible for the BNDES study.

Currently, these regions represent 5% of Brazil's soy production, which is expected to reach roughly 60 million tons for the 2004-05 (October - September) crop.

The study also concluded that development in these regions could be hindered by poor infrastructure and that investments in rail transportation are of key importance for future production in the area.

Brazil is the world's No. 2 soybean producer.