September 6, 2021

 

Foreign demand for Brazilian soybean meal picks up once more

 
 

The external demand for Brazil's soybean meal has heated up again, leading exports in July to reach the highest volume since 2004.

 

This scenario resulted in higher export premiums, lower supply of large lots by the industries in the domestic spot and higher prices for soybean meal.

 

According to Secex, Brazil exported 1.987 million tonnes of soymeal in July, the largest quantity since June 2004 when foreign sales totaled more than two million tonnes. The prices of soybean oil, on the other hand, fell again in the last few days.

 

According to Cepea researchers, although domestic demand for the production of biodiesel remains strong, the food industries are cautious in their purchases, waiting for lower prices.

 

- CEPEA (Brazil)