November 4, 2009

Brazil's soy exports fell to 722,700 tonnes in October, compared with 1.06 million tonnes in October 2008, the Foreign Trade Ministry said Tuesday (November 3).

That put October soy exports below the 1.83 million tonnes exported in September, the ministry said.

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$315 million to Brazil in October, compared with US$524.6 million in October 2008.

Exports are slow in October as producers and buyers had already traded a large amount of beans in previous months.

Brazil is in the inter-harvest period for soy.

Brazil in October also shipped 843,600 tonnes of soymeal, a soy derivative used in animal feed and other food products, compared with 1.09 million tonnes in September and 1.1 million tonnes in October 2008.