(.) – Brazil’s soybean exports are expected to reach 77.5 million tonnes in 2020, consultancy Safras & Mercado estimated on Friday, an increase from the 73 million-ton projection presented in April.
“The increase in the forecast reflects Chinese demand above normal in the first half of the year, much more than expected,” said Luiz Fernando Roque, analyst at the consultancy.
If this figure is reached, it would mark an increase of 5% in the volume exported in 2020 compared to the total of 74 million tons shipped abroad during the previous year.
According to the consultant, the total supply of the oilseed would rise 4% to 125.82 million tons. Total demand, in turn, is projected at 124.3 million tons, an increase of 3% over the previous year.
“Therefore, ending inventories are expected to increase 58%, from 960,000 to 1,519 million tonnes,” Safras said.
(By Nayara Figueiredo. Edited in Spanish by Javier Leira)