Brazilian soy soars

- Last updated on GMT

Brazilian soybean production could break records again in the
upcoming 2002-03 (Oct-Sep) season, reaching 47 million to 48
million metric tonnes, according to the Brazilian Association of
Vegetable Oil Industries (Abiove).

Brazilian soybean production could break records again in the upcoming 2002-03 (Oct-Sep) season, reaching 47 million to 48 million metric tonnes, according to the Brazilian Association of Vegetable Oil Industries (Abiove), reports the US Soybean Association (ASA). The figures would represent a 12 to 15 per cent jump from the 41.8 million tonnes produced this season.

The industry group expects soybean planted area to rise to 17.1 million hectares, up 9 per cent from the 15.7 million hectares planted last year. In addition, continues the ASA, yields could recover from this year's drought to possibly reach a record level of 2,749 kg to 2,807 kg per hectare, compared with 2,662 kg per hectare last year.

The Abiove forecast also suggests record exports of soybeans and its derivatives, generating extra export revenues of $1.7 billion (€1.72bn) to $1.9 billion. Soybean exports are projected to rise from 18.1 million to 18.6 million tonnes in the 2003-04 marketing year (Feb-Jan).

Abiove reports that soyoil exports are forecast to jump to 2.25 million to 2.35 million tonnes, a significant leap from 1.9 million tonnes this year.

Related topics: Science

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