Soyabean production in Brazil is expected to hit record levels in 2021/22, according to a US Department of Agriculture (USDA) forecast reported by World Grain on 21 October.
Exports in the country are also forecast to increase, according to the USDA’s Foreign Agriculture Service report.
Production was estimated at 145M tonnes – compared to 137M tonnes the previous year – based on a yield of 3.58 tonnes/ha, the report said.
“Although there is concern for the planting of second-season crops if soyabean plantings slow down, at this point there is no impact for soyabean yields, as long as weather patterns are normal during the rest of the growing season,” the USDA said.
Key reasons for year-on-year yield gains include growers’ adoption and investment in technology and the use of cutting-edge chemicals and fertilisers, according to the report.
Increasing global demand and high domestic soyabean prices were encouraging farmers to expand their soyabean production, the report said, with planted area estimated at 40.5M ha in 2021/22, up from 39M ha the previous year.
Soyabean exports were estimated at 92M tonnes, up from 85.3M tonnes the previous year, the USDA said, based on expectations of sufficient available supplies and a favourable exchange rate.
“The export forecast also assumes that global demand for soyabeans will continue to hold steady if the pandemic situation continues to improve in 2022, and that increased vaccination will mitigate the negative impacts of the COVID Delta variant,” the USDA said.
China is expected to remain the top importer of Brazil’s soyabeans as it looks to rebuild its pig herd following the African swine fever outbreak in 2019, according to the report.