Source: Oleoscope (Russia)
According to official data, Brazil exported 88.1 thousand tons of soybean oil in January this year, which is 30% less than in December 2024, but 28% more than in January 2024, reports Grain Online.
Exports of soybean oil for the whole of last year, according to the Brazilian Association of Oilseed Processors (ABIOVE), amounted to 1,311.6 million tons, which is 48% less than in 2023. The peak of oil exports was in July, when 189.9 thousand tons were exported.
ABIOVE analysts also expect that Brazil could increase soybean processing this season to a record 57 million tons, 4.6% above MY 2023/24 levels and a new all-time high. Bean exports are also estimated at a record 104.1 million tons.