O soybean oil: optimistic projections for international trade
Due to its excellent cost-benefit ratio, soy oil is the most consumed in Brazil, and is present in the daily meals of most Brazilians. But such fame is not only linked to the national territory: its value in the international market is rising. In November 2019, Brazilian exports of the product were already quoted, on average, at US$ 752 per ton, 14% more than in November 2018. This increase in prices is due to factors such as the reduction in stocks soy, the increase in the price of animal fat and the greater use of the product as fuel - especially by the United States, Brazil and Argentina, which have biodiesel programs.
In terms of production, China remains the leader, with an annual volume of 15.3 million tons, followed by the United States and Argentina. The latter leads world exports, with US$3.04 billion, followed by Brazil, with US$1.04 billion. The three main importers are India, Bangladesh and Algeria.
Brazil, Argentina and China
In a projection carried out at the end of 2019, Abiove (Brazilian Association of Vegetable Oil Industries) concluded that in 2020 Brazil will export 75 million tons of soy oil. For the same year, there are also projections that the country will also become the largest producer and exporter of this product, surpassing China and Argentina, respectively. The scenario couldn't be better, and the possibility of high profits is imminent.
Interested in having your business included in these projections? Prisma Consultoria Internacional can help you! You can contact us!
By Giovanna Nhaiara 02/27/2020.