Floods and adverse weather affected soybean production in Brazil

03-Jul-2024 03:48 PM

Rio de Janeiro. In Brazil, the world's largest soybean producer and exporter located in the South American continent, this important oilseed crop suffered heavy damage during the current year due to heavy heat and then floods.

Soybean yield rates fell in many states and then in May, devastating floods in the country's far southern state - Rio Grande do Sul - caused heavy damage to the soybean crop.

Despite this, the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA) has estimated the production of 1500 lakh tonnes of soybean in Brazil during the 2023-24 season,

which is 26 lakh tonnes or 2 percent less than the estimate of the March report. It is worth mentioning that in the country's most prominent agricultural producer state -

Mato Grosso, the average yield rate and total production of soybean had declined significantly due to heavy heat and less rainfall at the beginning of the current year.

According to the FAS report, soybean yield rates have declined in Brazil's top producing states - Mato Grosso, Parana, Sao Paulo and Mato Grosso do Sul as well as Rio Grande do Sul. Crop harvesting and preparation has ended in all the states.

At the national level, the average soybean yield rate is now estimated to be 3275 kg per hectare (48.7 bushels per acre), which is 10 percent less than the 2022-23 season. Soybean production in Brazil was estimated to reach a new record level of 1620 lakh tonnes during the 2022-23 season.

FAS has estimated 940 lakh tonnes of soybean exports from Brazil and 551 lakh tonnes of soybean crushing in Brazil during the current marketing season of 2023-24. This will increase the production of soy oil and soymeal and exportable stock there.