January 23, 2004

Brazil 2003 Soybean Exports Up 24.5%

Brazilian soybean exports hit 19.89 million metric tons in the 2003 calendar year, up 24.5% from the 15.97 million tons shipped the year before, according to official government figures.

China was the main soybean importer, taking 6.10 million tons of Brazilian product, or 31% of all shipments. Next on the list was Holland, which took 3.67 million tons of Brazilian soybeans, or 18% of exports. The third country was Germany, which took 2.21 million tons, or 11% of exports.

Despite the rise in demand from China, the European Union still took the majority, 54%, of export shipments.

The exports came from Brazil's record crop of 51.2 million tons, according to the Brazilian Vegetable Oil Industries Association, or Abiove.

Soymeal exports totaled 13.60 million tons in 2003, 9% higher than the 12.52 million tons sent abroad the year before.

Some 71% of the soymeal shipments, or 9.60 million tons, went to the European Union. Some 3.96 million tons went to Holland, while 2.62 million tons went to France and 902,158 tons went to Germany.

Brazil exports approximately two-thirds of total soymeal production.

Soyoil exports reached 2.49 million tons last year, up 29% on the 1.93 million tons sent the year before.

The largest importer of Brazilian soyoil was Iran, which took 960,328 tons, or 39% of total exports.

The second biggest importer was China, which took 541,265 tons, or 22% of all shipments.