April 23, 2008

Brazil soy harvest seen at record 61.3 million tonnes

Brazil's 2007-08 soy harvest, now in its final weeks, was seen at 61.3 million tonnes, slightly lower than the 61.5 million tonnes forecast, the Vegetable Oils Crushing Industry Association (Abiove) said Tuesday.

In 2006-07 season, Brazil harvested around 58.73 million tonnes of soy, Abiove said.

Brazil's soy exports were forecast unchanged from Abiove's projection in March of 27.3 million tonnes from February-January industrial year.

The amount of exports achieves nearly 15 percent increase from the 23.8 million tonnes exported over the previous season.

Crushing is seen to rise 32.4 million tonnes this season from the 32.2 million tonnes estimated in March.

In the previous industrial year, grain processors crushed 31.5 million tonnes.

The crush volume is seen to boost soymeal production to 24.8 million tonnes from the 24.6 million tonnes forecast last month.

Soy oil output is projected at 6.2 million tonnes from 6.1 million tonnes.

Soymeal and soy oil exports will be unchanged at 13.1 million and 2.15 million tonnes, respectively, Abiove said.