July 14, 2008

    

Brazil's soy export revenue grows 70 percent in H1

  
 

Brazil's soybean and derivatives exports grew by 70 percent in the first half against a year before, to US$9.03 billion from US$5.39 billion.

 

The revenue would have been higher had it not been for the appreciation of the Brazilian real against the dollar, according to Conab's Oilseed and Cattle Raising Manager Joao Paulo de Moraes,

 

Growing soyoil demand, increased orders from China and limited supplies from the US all accounted for the surge in Brazilian soy exports, he added.

 

Volumes however, grew just 4.2 percent to 20.7 million tonnes from 19.85 million tonnes a year earlier.

 

The National Commodities Corporation (Conab) expects grains, oil and soymeal exports to reach 41 million tonnes in 2008.

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