(MENAFN- Brazil-Arab News Agency (ANBA)) From the Newsroom
São Paulo – Brazil is expected to harvest 120 million tons of soy during the 2019/2020 season, according to the Mato Gross State Soy and Maize Producers Association ( Aprosoja ). The April edition of the Crop Forecast bulletin was released this Tuesday (14). The forecast is more modest than last March's 120.6 million-ton prediction. The association pulls together data from technicians and farmers in 16 different states of Brazil.
This year should see soy exports go up 4 million tons from 2019 to 77 million tons. To date this year, sales have amounted to 60% of the current crop and 10% of the upcoming one.
March saw a novel export record at 13.3 million tons shipped. Pricing is driving sales to China, with 60 million tons exported in 2019. This year should see sales fall in the 60-66 million-ton range.
Brazil accounts for 50% of global soy exports, and soy makes up 40% of agribusiness exports from Brazil. Aprosoja said domestic demand for soy was fueled by meat exports.
Translated by Gabriel Pomerancblum
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