September 4, 2007

Brazil expects largest ever soy crush for 2007-08

Brazil's market year 2007-08 soy crush is expected at 30 million tonnes, the Brazilian Vegetable Oils Industry Association, or Abiove, said Monday (Sep 3) in its monthly report.

This would make 2007-08 Brazil's biggest soy crush ever, superceding the 28.7 million tonnes last year.

Exports for 2007-08 were expected at 26.8 million tonnes.

Soymeal production estimates remain at 23 million tonnes from the 22 million tonnes last year. Soymeal export targets for market year 2007-08 are unchanged at 12.9 million tonnes.

Soyoil production is 5.7 million tonnes from the 5.5 million tonnes produced last year. Soyoil exports is expected at 2.2 million tonnes, slightly lower than the previous market year.

Abiove's figures represent up to 80 percent of Brazil's soy crushing companies.

Industry estimates put the 2006-07 soy crop, which will be sold from February 2007 to January 2008, at 59.5 million tonnes.