BTMA-Brazil’s soybean meal exports in July hit the highest in 17 years

The demand for Brazilian soybean meal in overseas markets increased again in July 2021, making Brazil’s soybean meal exports in July the highest level since 2004. At the same time, the export premium of Brazilian soybean meal has risen, while domestic supply has fallen.

According to data from the Brazilian Foreign Trade Secretariat (SECEX), Brazil’s soybean meal exports in July were 1.987 million tons, the highest level since June 2004, when soybean meal exports exceeded 2 million tons. Brazil’s total soybean meal exports from January to July this year were 10.15 million tons, down 0.5% from the same period in 2020.

The main destination of Brazilian soybean meal in July was Indonesia, with a quantity of 301,700 tons, accounting for 15.2% of Brazil’s soybean meal exports that month, followed by Thailand, accounting for 13.5%. Other major destinations are Vietnam 9.9%, Spain 9.1%, Germany 8.3%, South Korea 7.9%, the Netherlands 7.1%, and France 5.7%. The other 23 countries’ purchases last month accounted for 23.3% of total exports.

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