Mumbai, 02 Dec (Commoditiescontrol): Brazil is set to achieve a record soybean production of 170.8 million tons in the 2024/25 season, supported by favorable weather conditions and enhanced use of quality inputs, according to agribusiness consultancy Celeres. This estimate reflects a nearly 1 million-ton increase over previous forecasts, driven by an expansion in the country’s soy cultivation area.
Soybean exports are projected at 107 million tons, underscoring Brazil’s critical role in global supply chains. Last season’s production stood at 154.5 million tons, reaffirming Brazil's position as the world’s largest soybean producer and exporter, with China as its top buyer.
Celeres’ forecast aligns closely with Agroconsult’s estimate of 172.2 million tons, indicating strong market optimism for a bumper crop. The consultancy highlighted that early-season droughts in October delayed planting; however, improved weather in November accelerated sowing, with activity 13% higher compared to the same period last year.
A timely harvest will also boost Brazil’s second-corn crop, which follows soybean planting on the same fields, further enhancing the country’s agricultural output.
The expected bumper crop is likely to maintain downward pressure on global soybean prices, while peak-season freight costs could rise amid heightened export activity.
(By Commoditiescontrol Bureau; +91-9820130172)
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