November 29, 2004

 

 

Brazil's 2004 Soy Complex Exports Estimated at $10.091 Billion: Abiove

 

The Brazilian Oilseeds Association (Abiove) announced on Friday that Brazil's 2004 soy complex export revenue should total $10.091 billion, compared with a $10.105 billion forecast in October.

 

The reduction is the result of reviewing soybean and oil prices and volumes.

 

Abiove expects 2004 soybean exports to total 19.2 million tons, 300,000 tons less than the October forecast. The average price for soybeans in 2004 is seen at $280/t from $275/t seen in October. Total soybean export revenue is forecast at $5.37 billion.

 

Soy meal forecasts have held at 14.4 million tons to be shipped at an average $230/t and a $3.3 billion revenue.

 

Soy oil forecasts are of 50,000 tons less shipped at 2.55 million tons at an average $550/t and a $1.4 billion revenue.

 

Abiove estimates that Brazil's 2005 soy complex export revenue will total $8.97 billion, compared with $9.34 billion forecast for the year in October.

 

Forecasts have held for the volumes of products shipped, but prices are seen falling.

 

In the case of soybeans in 2005 the forecast is for 22.5 million tons shipped at an average $210/t and a $4.72 billion revenue.

 

In the case of soy meal, Abiove forecasts 16.2 million tons shipped at an average $175/t and a $2.83 billion revenue.

 

For soy oil the 2005 forecast is for 2.95 million tons shipped at an average $480/t and a $1.41 billion revenue.