With low supply in Brazil, imports increase

Cepea, November 17, 2020 – With the low supply of soybean in Brazil and the absence of farmers in the market, Brazilian consumers are having to search for soybean in the international market. Thus, the volume Brazil has imported this year (from January to October) is the highest in 17 years. It is worth to mention that Brazilian soybean farmers are not interested in selling the remaining of the 2019/20 season.


Despite the record production in Brazil this year, soybean imports totaled 97.3 thousand tons in October, 91.4% more than that purchased in September and significantly higher than that imported last year, when Brazil purchased 1.38 thousand tons of the product from the international market, according to data from Secex (Foreign Trade Secretariat).


This scenario results from the high volume exported this season. According to Secex, from January to October, Brazil exported 81.43 million tons of soybean, a record for the period. China received 73.12% of the Brazilian product in the first 10 months of 2020.


Despite the dollar depreciation, by 4.7% in the first half of November, prices increased at Brazilian ports and remained stable in the interior of the country. The ESALQ/BM&FBovespa Paranaguá (PR) rose by 1.06% between October 30 and November 13, to 165.27 BRL (30.18 USD)/bag on Nov. 13. The CEPEA/ESALQ Index in Paraná dropped by a slight 0.5% in the same comparison, to 165.08 BRL (30.14 USD)/bag on Nov. 13.


CROPS – Although the water deficit delayed soybean sowing in Brazil in early November, rains favored activities in the second week of the month. In southern Brazil, sowing had been interrupted by low moisture, but is now aligned with the average in the past five years. However, in western and southwestern Paraná, some areas had to be replanted, due to water stress.


According to data released by Conab (Brazil’s National Company for Food Supply), on Nov. 6, soybean sowing had reached 30% of the area in Tocantins; 20% in Maranhão; 16% in Piauí; 7% in Bahia; 17% in Rio Grande do Sul; 38% in Santa Catarina; 47% in Goiás; 50% in Minas Gerais; 60% in São Paulo; 78% in Mato Grosso do Sul and 79.1% in Paraná and in Mato Grosso.





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