Currently, Brazil is a kind of “locomotive” for the global soybean market. This was highlighted by Victoria Blazhko, Head of editorial content and analytics at ASAP Agri, during her speech at the “Soybean and Meal Market” conference in Kyiv on March 27.
According to Blazhko, over the past ten seasons, Brazil’s annual soybean production has increased by 73 million tons.
“The growth in production primarily meets export demands, with the average annual export volume over the last decade increasing by 51 million tons. Domestic processing of oilseeds has grown by 16 million tons per year during this period,” Blazhko stated.
Among the key drivers of Brazil’s “soybean breakthrough,” she noted the development of cultivation technologies, favorable overall climatic conditions, and the growing global demand for soybeans. Additional growth factors included infrastructure development and the implementation of a biodiesel mandate in the country, with 70% of the biodiesel produced in Brazil coming from soybean oil.
For more updates from the “Soybean and Meal Market” conference, visit the event’s page.
