January 27, 2004

 

 

Brazil Soy Complex Exports Revenue Up 35% in 2003

 

Brazil's soy complex export revenue registered a 35% to $8.125 billion in 2003, making up 11.1% of the country's entire export revenue, according to figures from the Brazilian Oilseeds Association (Abiove).

 

Soybean exports alone resulted in $4.3 billion revenue at an average $216/tonne.

 

Meanwhile Brazil's soybean export volume rose 25% in 2003 from 2002 to 19.9 million tons. Of this total China was the biggest buyer, at 31% of the total (6.1m/t), up 47% on its imports of the Brazilian grain in 2002.

 

The Benelux countries came in second place at 3.7m/t, 18% of the total and 25% more than in 2002.

 

In third place came Germany at 2.2m/t, 11% of the total and 39% more than in 2002.

 

These three main buyers were the destination of 60% of Brazil's 2003 soybean exports, with the EU responsible for 54%. This latter figure was down from 58% in 2002, 62% in 2001, 64% in 2000 and 78% in 1999.

 

Meanwhile, China has grown as a market while the EU has shrunk, from 26% in 2002, 20% in 2001, 15% in 2000 and 7% in 1999.

 

Brazil's soy oil exports, meanwhile, rose 29% to 2.5 million tons, up 29% on 2002 and resulting in a $1.23 billion revenue at an average $496/t.

 

Of total Brazilian soy oil exports China bought 541,000 tons, 22% of the total and up 81% on 2002. In 2001 China was almost not included in the ranking, importing only 17,000/t (1%).

 

Iran remained the main importer of Brazilian soy oil in 2003 at 960,000/t, 30% of the total and a 25% increase.

 

India was in third place at 256,000/t, 10% of the total and down 37% on 2002.

 

Brazil's 2003 soy meal shipments, meanwhile, climbed 9% to 13.6 million tons and an average $191/t resulted in a $2.6 billion export revenue.

 

Of this total the Benelux countries bought 3.96m/t, 29% of the total and up 9% on 2002.

 

France was in second place at 2.6m/t, 19% of the total and 5% less than in 2002.

 

In third place came Germany at 902,000/t, 7% of the total and 52% more than in 2002.

 

The EU bought 9.6 million tons of Brazilian soy meal in 2003, 71% of the total shipped and down from the 75% of 2002, 80% of 2001, 78% of 2000 and 72% of 1999.