August 1, 2011


Brazilian soy crop to reach 74.1 million tonnes



Brazilian Vegetable Oils Industry Association, or Abiove, on Friday (Jul 29) increased the forecast of Brazil's 2011-12 soy crop to 74.1 million tonnes, rising 7.5% from last year.


According to Dow Jones, Abiove's previous estimate, published on July 6, was for 73.6 million tonnes in the crop year that started in February and ends in January.


The additional production is expected to go into storage, with the trade group raising its forecast for Brazil's final 2011-12 soy stocks to 4.53 million tonnes from 4.03 million tonnes.


Brazil's soy exports for 2011-12 are estimated at 32.4 million tonnes, unchanged from Abiove's previous report and up 11% on the year.


Abiove forecasts this year's soy crush at 36.2 million tonnes, up 1.4% from 2010-11. Companies process soy into soymeal and soy oil.


Brazil is expected to produce 27.5 million tonnes of soymeal and seven million tonnes of soyoil in the 2011-12 year, Abiove said.


Brazil is the world's number two soy producer and exporter, behind the US.

Video >

Follow Us