Abiove: Brazil soy production projection raised to 101.4 million metric tons

06.12.2016

The Brazilian Association of Vegetable Oil Industries (Abiove) has raised its forecast for soybean production in the country to 101.4 million metric tons during the 2016/2017 season. The previous projection was at 101.3 milllion metric tons.

Considering this total output, Abiove projects a total crushing of 41 million metric tons, while the exports would reach 57.5 million metric tons. The soybeal meal production would be at 31.1 million metric tons, while soybean oil would remain at 8.1 million metric tons.

For 2016, the association readjusted its forecast of processing, exports and final stocks in Brazil. Abiove reduced the processing from 39.9 to 38.4 million metric tons. The exports estimate fell from 52.5 million metric tons to 39.4 million metric tons, while the imports were kept at 400,000 tons. If those numbers are confirmed, the Brazilian final stocks would reach 4.2 million metric tons.

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