Brazil exported about 3.5 million tons of soybeans to foreign markets from September 1 to 18, which is 36% more than the level of the same period last year, according to monitoring data released by the Department of foreign trade at “Secex”.
Market experts believe that due to large domestic stocks, competitive prices and constant demand from China, Brazil will ship a large amount of soybeans abroad in the current year 2023, as in the period from January to August, according to Secex, the country exported 80.85 million tons of oilseeds, an increase of 21.6% year-on-year, more than 70% of the total of those exports went to China.
Market experts explained, that from March to early July, Brazilian soybeans were sold at a significant discount of about 40 dollars per ton, compared to US soybean exports, which led to a significant increase in exports year-on-year, reported “ukragroconsult”.
