Brazil is set to end 2018 with a record 82.5 million tonnes in soy exports, up from 68 million tonnes in 2017, the National Association of Grain Exporters (ANEC) announced on Monday.
Figures released by ANEC cited by the Brazilian press showed that in the first 11 months of the year Brazilian soybean exports reached 80.1 million tonnes, a year-on-year increase of 22.6%.
Of the amount exported from January to November 82% or 65.7 million tonnes went to China.
Brazil benefitted this year from the trade dispute between the United States and China, which applied a surcharge on US soybeans and led Chinese companies to turn to beans produced in Brazil.
ANEC also reported that about 2.5 million tonnes of soybeans are scheduled to ship in December, exceeding the figure of 2.3 million tonnes registered in December 2017, according to figures from the Ministry of Industry, Foreign Trade and Services.
The National Association of Cereal Exporters also pointed out that, due to good weather conditions, the 2018/2019 plantation started early, with some regions due to begin harvesting in the second half of December, “thereby balancing the supply of the market .” (macauhub)