December 5, 2007
Drop in exports lead to higher prices for Brazil's soymeal
Brazil's soymeal exports fell 10 percent in November to US$173 million from US$192.2 million the same month last year.
November's figure was almost half of the US$320.6 million in October, according to figures Monday from the Brazilian Development Ministry Foreign Trade Department (Secex).
Soymeal shipments were down 36.7 percent to 585,400 tonnes from the 924,100 tonnes seen in November 2006.
Average price for November was US$295.50/tonne, up 42 percent from the US$207.90/tonne in the same month last year.
November's price was also 9.7 percent over that from the previous month.
Meanwhile, the value of soyoil exports was up 26 percent on-year, rising from US$88.2 million in November last year to US$111.6 million for November 2007.
However, the November 2007 figure was still 30 percent below that in the previous month, which hit US$157 million.
Despite the higher value, volumes shipped in November 2007, at 137,700 tonnes, was down 16.6 percent on-year and 30 percent below that in October 2007.
Average price for soyoil in November 2007 was US$810.50/tonne, up 51 percent from US$534/tonne in November 2006 and remaining the same with that from October 2007.
Figures for Brazil's soyoil and soymeal exports for November 2007
|
|
Soymeal |
Soyoil | ||||||||
|
|
Nov 07 |
Nov 06 |
% change on-year |
Oct 07 |
% change from Oct 07 |
Nov 07 |
Nov 06 |
% change on-year |
Oct 07 |
% change from Oct 07 |
|
Tonnage ('000 tonnes) |
585.4 |
924.1 |
-37% |
1192.0 |
-50% |
137.7 |
165.1 |
-17% |
193.7 |
-30% |
|
Value (US$ million) |
173.0 |
192.2 |
-10% |
320.6 |
-46% |
111.6 |
88.2 |
26% |
157.0 |
-30% |
|
Price (US$/tonne) |
295.5 |
207.9 |
42% |
269.0 |
10% |
810.5 |
534.0 |
51% |
810.6 |
- |
