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Brazil's soybean exports declined by 10% amid drought conditions
Published on: Jan 10 2023, 01:19
A decline of 10% was seen in Brazil's soybean exports in the year 2022 at 77 MMT as compared to the year 2021 at 86.6 MMT. While exports in the month of December 2022 were 35% lower than that of December 2021. The major reason behind this decline was the drought conditions in the country that led to the crop loss. The January exports are also estimated to be lowered by 1 million than the same month in 2022 and projected at 1.3 million.
Soymeal exports recorded a high at 20.4 MMT as compared to 16.8 MMT in the last year. While in December, the exports reached 1.3 MMT.
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