Brazil: Oilseeds and Products Annual
Link to report:
Brazil is a leading oilseed producer in the world, and is projected to retain its position this season and next, despite the global economic turmoil due to the coronavirus pandemic. Post forecasts that soybean planted area will expand above trend in 2020/21, to 38.5 million hectares, as producers capitalize on lower production costs and high domestic prices. Production is forecast at 129 million metric tons (mmt) in 2020/21. Post revised down the soybean production estimate for 2019/20 to 123 mmt, due to drought in Rio Grande do Sul. Exports are forecast at 79 mmt in 2020/21, up from 77 mmt this season. Exports have been stoked by the weak Real. Peanut and cottonseed planted area and production are projected to see only marginal expansion in 2020/21 due to dampened global demand.
