August 27, 2012
Brazil may replace US as world's largest soy producer
As farmers from the south hemisphere are encouraged by the surge in international soy price to plant more soy, International Grains Council (IGC) said Brazil would very likely overtake the US to become the world's largest soy producer.
IGC lifted its 2012-13 forecast for Brazil's soy output by one million tonnes to 76 million tonnes. On the contrary, it lowered its forecast for the US soy production by six million tonnes to 73 million tonnes in view of the most serious drought in Mid-west of US in 56 years.
The US has been the world's biggest producer of soy in recent years. In 2011-12, its soy output outstripped that of Brazil by 25%.
