December 4, 2006

Brazil's soybean exports down by 49,900 tonnes in November

Brazilian soybean exports for the month of November declined as expected to 998,300 tonnes compared to 1.7 million tonnes in October and 1.4 million tonnes in November 2005 as local stocks continue to dwindle in the interharvest period, according to numbers published Friday (Dec 1) by the Foreign Trade Ministry.

November daily soybean volume declined 37.7 percent to 49,900 tonnes in comparison to October volume and 26.5 percent in comparison to this time last year.

Revenue from soybean exports also declined because of the combination of a weak dollar compared to the Brazilian real and low volume. Revenue for November hit US$236 million compared with US$379.3 million in October and US$340.7 million in November 2005.

Soymeal exports declined to 924,100 tonnes in November compared with 1 million last month and 1.3 million in November 2005. Daily export volume for soymeal declined 6 percent to 46,200 tonnes on the month and 32 percent on the year. Revenue from soymeal also declined somewhat to US$192.2 million in November compared with US$199.6 million in October and US$278.9 million in November 2005, the Trade Ministry reported.

Soyoil exports declined to 165,100 tonnes compared with 179,900 tonnes in October and 200,800 tonnes in November 2005. Daily volume slipped to 8,300 tonnes in November compared to 8,600 in October and 10,000 tonnes in November 2005. Revenue from soyoil exports fell to US$88.2 million in November compared with US$92 million in October and US$90 million in November 2005.

Brazil is the world's no. 2 soy producer and exporter behind the US.