November 17, 2010

Oil World sees sharp soy export rise in Paraguay, Uruguay and Bolivia

Good soy crops in Paraguay, Uruguay and Bolivia mean the three countries are likely to raise soy exports sharply in coming months, Hamburg-based oilseeds analysts Oil World predicted Tuesday (Nov 16).

"Soybean production prospects have improved in these three countries. We now consider it likely that they will export a combined 7.5 million tonnes of soybeans in October 2010/September 2011, up from 6.8 million tonnes last season," the firm said.

Uruguay's crop in early 2011 is forecast to rise to two million tonnes from 1.9 million tonnes. Paraguay's estimated seven million tonne crop will be down from 7.4 million tonnes in 2010 but still is forecast to maintain the strong rise seen in recent years. Paraguay's 2009 soy crop was only 4.1 million tonnes, Oil World stressed.  Bolivia's soy crop will rise to 1.85 million tonnes from 1.7 million tonnes.

South American soy exports are dominated by large producers Brazil and Argentina, but smaller countries are also seeking a greater share of the export market.