Soybean Exports Expected to Grow Even More in 2018

Essential for Brazilian agribusiness, soybeans are expected to continue being a strong engine for national agricultural production in 2018. Estimates from the Brazilian Association of Vegetable Oil Industries (Abiove) point to record numbers in both production and exports of the grain.According to the entity, Brazil is expected to produce 114.7 million tons of soybeans this year, 2.3% more than last year. As for exports, Abiove estimates a record of 68 million tons shipped in 2018.
The country is currently considered one of the world leaders in grain production: it is the second largest soybean producer in the world and the third largest corn producer, according to data from the Federation of Industries of the State of São Paulo (Fiesp).From Brazil to the World
According to Daniel Furlan, economic manager at Abiove, agribusiness continues to be one of the most important pillars of the Brazilian economy. “It is essential not only in terms of its contribution to Gross Domestic Product and job creation but also for the surpluses in the trade balance.”For example, data from the Ministry of Agriculture shows that soybean products, which were the highlight in agribusiness exports in February, totaled $1.6 billion in exports for the month so far, out of a total of $6.23 billion in agribusiness shipments.
“Brazil today is a country that feeds the world. It is a food exporter, which shows that we have been very successful in our agricultural policy over the years,” said Furlan. He added that agricultural production reached this level in the country after strong investments in research and product quality and the expansion of the agribusiness production chain.Source: www.brazilgovnews.gov.br