Brazil to achieve record soyabean exports: Oil World

Brazil and Paraguay are likely to achieve record soyabean exports after bumper crops this year while a disappointing harvest will brake Argentine sales, Hamburg-based oilseeds analysts Oil World said on Tuesday. Brazil's September 2010/August 2011 soyabean exports are likely to reach a record 31.12 million tonnes from 28.4 million tonnes in 2009/10, Oil World forecasts.
This follows Brazil's record 2011 soyabean crop, which Oil World estimates at 73 million tonnes from 72 million tonnes last year. A good crop also means Paraguay's 2010/11 exports will rise to a record 5.64 million tonnes from 4.87 million tonnes, it said.
But Argentina's soyabean exports are likely to slump to 9.67 from 11.82 million tonnes last season. Oil World estimates Argentina's 2011 soyabean crop will fall to 49.2 million tonnes after poor weather from 53.9 million tonnes harvested last year. Meanwhile, global October 2010/September 2011 soyabean imports are likely to rise by 4.6 million tonnes on the season to 93.5 million tonnes, Oil World estimates.
China will account for 58 percent of the total, importing 54.2 million tonnes from 50.34 million tonnes in the previous season. China's decision this year to sell part of its soyabean stocks to cool inflation may create pent-up Chinese oilseed import demand in July/December 2011 to rebuild the country's inventories, Oil World said.