Source: USDA, AMI
Source: USDA, AMI

South American soyabean producers Brazil and Argentina are set to maintain their shares in the global market this crop year, according to United States Department of Agriculture (USDA) data reported by Germany’s Union for the Promotion of Oil and Protein Plants (UFOP).

While Brazil's harvest was likely to fall just short of the previous year’s bumper crop, Argentina was expected to double its soyabean production, the 16 February report said.

Brazil, the USA and Argentina are the world’s leading soyabean producing countries, collectively accounting for 80% of global soyabean output, while China holds a 5% share, according to the report.

Brazil is set to harvest around 156M tonnes of soyabeans in the current crop year, according to USDA estimates. This compared to the previous year's record volume of 162M tonnes.

The forecast meant Brazil would maintain its leading position ahead of the USA based on a 1.3M ha expansion in soyabean planted area to 45.9M ha.

In the USA, the soyabean harvest had been completed by the end of last year and totalled around 113.3M tonnes, a decline of around 2.9M tonnes from the previous year.

In Argentina, the world’s third biggest producer, the harvest was expected to be significantly larger compared with the previous year, when persistent drought and heat significantly reduced yield.

At 50M tonnes, Argentina’s output was likely to be double the previous year’s volume, according to research by Agrarmarkt Informations-Gesellschaft.

In addition to significantly higher yields, an expansion in soyabean planted area was also having an impact, the report said.

China’s output was likely to increase by around 556,000 tonnes to 20.8M tonnes, according to latest USDA estimate.