Brazilian soy oil exports seen reaching 1.8M tons in 2022 to fill edible oil market gap

In Brazil, Reuters reports Brazil’s soybean oil exports in 2022 will reach 1.8 million metric tons, some 100,000 tons higher than forecast in April and the highest level since 2008, due to strong prices over fallout from the war in Ukraine, industry group Abiove estimated on Tuesday.

By raising the export estimate, Abiove reduced the final inventory forecast by 100,000 tons, to 522,000 tons of soybean oil for 2022, while maintaining the production projection at 9.7 million tons and domestic consumption at 7, 9 million tons.