November 2, 2006

Brazil's soy exports decline to 1.7 million tonnes in October

Brazil's soy exports declined to 1.7 million tonnes in October compared to 1.9 million tonnes in September and 1.8 million in October 2005, the Trade Ministry said Wednesday (Nov 1).

Brazil shipped 80,100 tonnes daily on average in October, down 19.8 percent from September. Revenue from soybean exports totalled US$379.3 million, down from US$449.8 million in September and US$441 million in October 2005.

Soymeal exports also declined to 1.0 million tonnes compared to 1.3 million in September. Daily export averages were 49,100 tonnes, or 25 percent less than September averages. Revenue from soymeal exports hit US$199 million compared to US$249.3 million in September and US$224 million last October.

Soyoil exports rose to 179,900 tonnes in October compared to 113,200 tonnes in September, but were down from 199,400 tonnes exported in October 2005. Daily export averages were 8,600 tonnes in October, or 51.3 percent more than September. Revenue from soyoil exports totalled US$91.8 million compared to US$56.8 million the prior month and US$89.9 million in October 2005.

Brazil is currently in its interharvest period for soy. The country began planting the 2006/07 crop earlier this month. Brazil is the world's no. 2 soy producer behind the US.