Cargill Forecasts Robust Grain Exports from Brazil in Latter Half of the Year
Source: The DairyNews
Cargill's Brazil president, Paulo Sousa, anticipates a surge in Brazil's grain exports during the second half of the year, driven by increased supplies of soy and corn despite earlier drought conditions in the central-west region, as reported by Reuters.
Sousa highlighted a positive outlook for soy production in the Matopiba region and Rio Grande do Sul, Brazil's southernmost state, suggesting that soy output projections may see an upward revision.
"Our assessment indicates that soybean harvest won't significantly lag behind last year," Sousa stated during the release of Cargill's Brazilian operation results.
According to crop agency Conab, Brazil's soy production for 2023/24 is estimated at 146.52 million metric tons, a 5.2% decrease from the previous record cycle, mainly attributed to reduced production in Mato Grosso, the nation's leading producing area.
Additionally, expectations are optimistic for Brazil's second corn crop, which comprises approximately 75% of the country's total production and is currently being cultivated.
"While the second-corn crop won't reach last year's record, prospects are highly favorable," Sousa affirmed.
In 2023, Brazil achieved milestone exports, surpassing 100 million tons of soybeans and 50 million tons of corn.
Cargill's Brazilian unit reported a significant growth in total product volume originating, processed, and sold in Brazil, reaching approximately 51 million tons in 2023, primarily comprising soybeans and corn, representing a 10 million-ton increase from 2022.
Sousa refrained from providing grain export volume predictions for 2024.
Cargill achieved a record net profit of 2.5 billion reais ($488.65 million) in Brazil in 2023, marking a 101% increase from 2022.
(Conversion rate: $1 = 5.1161 reais)
"Our assessment indicates that soybean harvest won't significantly lag behind last year," Sousa stated during the release of Cargill's Brazilian operation results.
According to crop agency Conab, Brazil's soy production for 2023/24 is estimated at 146.52 million metric tons, a 5.2% decrease from the previous record cycle, mainly attributed to reduced production in Mato Grosso, the nation's leading producing area.
Additionally, expectations are optimistic for Brazil's second corn crop, which comprises approximately 75% of the country's total production and is currently being cultivated.
"While the second-corn crop won't reach last year's record, prospects are highly favorable," Sousa affirmed.
In 2023, Brazil achieved milestone exports, surpassing 100 million tons of soybeans and 50 million tons of corn.
Cargill's Brazilian unit reported a significant growth in total product volume originating, processed, and sold in Brazil, reaching approximately 51 million tons in 2023, primarily comprising soybeans and corn, representing a 10 million-ton increase from 2022.
Sousa refrained from providing grain export volume predictions for 2024.
Cargill achieved a record net profit of 2.5 billion reais ($488.65 million) in Brazil in 2023, marking a 101% increase from 2022.
(Conversion rate: $1 = 5.1161 reais)
23.09.2024
Carbon emissions in global milk production - the elephant in the room
I have been thinking to make this post yes/ no. I decided for yes and like to ask everyone to not "shoot the messenger". The chart shows an analysis of IFCN Dairy Research Network from the 2024 supporter conference in Poland.
