July recorded the 5th consecutive increase in soybean crushing


Image: Pixabay


The Brazilian Association of Vegetable Oil Industries (ABIOVE) updated the monthly statistics of the soybean complex in Brazil until July 2021. 3.74 million tons of soybeans were processed in July 2021, for a representative sample of 85% from grain crushing in Brazil. Correcting for the sample percentage, this result represents an increase of 1.6% over the same month of the previous year.

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According to data released by Abiove, this is the 5th consecutive increase and reflects the validity of the mandatory blend of biodiesel in 12% (B12) in the L81 auction. ABIOVE will evaluate the impacts arising from the CNPE's recent decision to reduce the mix to 10% (B10) in the next auction, L82, when the August statistics are released.

In the accumulated period from January to July 2021, crushing decreased by 1.3% when compared to the same period in 2020, for the corrected sample. Based on projections from its members, ABIOVE increased the estimated production of soybeans to 137.9 million tons in 2021 (January to December), an increase of 400 thousand tons over the previous forecast and a historical record. As this growth occurs in parallel with the expected drop in exports and an increase in imports compared to previous estimates, ABIOVE projects a significant increase in the final stock of the 2021 harvest.

According to official data from the Ministry of Economy, the accumulated export of soybeans reached 72.69 million tons between January and August 2021, a reduction of 2.5% over the same period in 2020. The accumulated export of soybean meal totaled 11 .72 million tons, stable compared to last year (11.68 million tons). The exported volume of soybean oil grew by 6.5%, with 1.06 million tons sold between January and August 2021.

By: Aline Merladete | agrolink

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