Soybean exports expected to shrink
Jun, 28, 2019 Posted by datamarnewsWeek 201927
Brazilian exports of the soybean complex are expected to have a sharp fall this year. According to a survey by Datagro Consulting, shipments are expected to close the year at 87.3m tons, down 14.6% from 102.17m tons over last year’s volume.
Receita com exportações do complexo de soja deve atingir US$ 31 bilhões neste ano, o menor nível desde 2017 https://t.co/ukXmuCtwx2 pic.twitter.com/xfCcE9bRyt
— DATAGRO (@DATAGRO) June 27, 2019
In the face of smaller shipments, revenue should also end 2019 with negative results. The total revenue forecast is US$31.81bn, which is 22.5% below the revenue recorded in 2018.
According to Datagro’s chief grain analyst, Flávio Roberto de França Júnior, in addition to the lower volume, sales revenue from soybean by-products will be impacted by the fall in average prices. The expert also stated that the revenue obtained this year will be the lowest since 2017.
Source: Datagro
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