March 9, 2004

Brazil 2004-05 Soybean Export Registrations Up 11.8% On Year

Soybean export registrations for Brazil's 2004-05 marketing year (February-January) increased by 11.8% over the previous year, according to official figures from the Brazilian Association of Vegetable Oil Industries, or Abiove. Registrations totaled 10.56 million metric tons to February 29.
 
Registrations moved forward by 1.05 million tons during the second half of February, which was higher than the 748,000 tons recorded in the same period last year.
 
Abiove sees 2004-05 bean exports reaching 22.8 million tons compared with 20,500 million tons last year.
 
Soymeal registrations for the 2004-05 season stood at 3.60 million tons on Feb. 29, well below the 4.14 million tons registered one year before.
 
However, soymeal registrations did progress in the second half of February by 540,000 tons, faster than the 395,000 tons recorded in the same period a year ago.
 
Soymeal exports should reach 16.8 million tons in 2004-05, up from 14.1 million tons in 2003-04, according to Abiove.
 
Soyoil registrations stood at 533,000 tons up to Feb. 29, compared with 742,000 tons on Feb. 28, 2003.
   
Soyoil exports are seen reaching 2.9 million tons this season, up from an estimated 2.4 million tons last year.
 
Abiove sees Brazil's 2004-05 soybean production at 56.9 million tons.
 
Brazil is the world's second-largest producer of soybeans and their derivatives. Brazil places no obligations to export registered produce.