Brazil's soybean exports look set to rise in the 2021-22 season, and a record soybean harvest is also forecast. The Foreign Agricultural Service of the US Department of Agriculture (USDA) gave this information in a report.

The USDA forecasts soybean exports this season rising to 92 million tonnes, from 85.3 million tonnes the previous season. A favourable exchange rate and ample supplies have created the export opportunity.

The USDA said the pandemic situation may become more normal next year. In particular, the rapid spread of vaccination is reducing the negative impact of the Delta variant, so global demand for soybeans will keep rising. That is why the USDA has raised its export forecast. China will be able to hold on to its position as the largest buyer of Brazilian soybeans this season.

According to the agency's forecast, 145 million tonnes of soybeans could be produced this season, against 137 million tonnes in 2020-21. The USDA expects a yield of 35 lakh 80 thousand tonnes per hectare, as the report gives it.

The report says investment in farm technology is rising in Brazil while the use of chemicals and fertiliser is falling, which is why output is growing. Rising demand on the world market and high prices at home are encouraging the country's farmers to grow soybeans. Farmers have planted soybeans on 40.5 million hectares in the 2021-22 season, up from 39 million hectares the previous season.

Source: Bonik Barta. First published in Bengali on The Agro News.