Arabs Replace US and Argentina by Brazil as Main Soy Supplier

Brazilian soy In April, Brazil posted revenues of US$ 26.1 million from exports of soybean to the Arab countries. The in the first four months of the year was US$ 50 million . During the same periods of last year, the country had not sold the product to the countries in the League of Arab States, according to data culled from the electronic system of the Foreign Trade Secretariat at the Brazilian Ministry of Development, Industry and Foreign Trade.

According to the economist at the Agricultural Federation of the State of Paraná (Faep), Gilda M. Bozza, the trend reflects the taking over of a market share left by Argentina in the Arab market.

"The leading suppliers to the market were Argentina and the United States, and Argentina had a failed crop (as a result of a historic drought)," says Gilda. As for the United States, according to the economist, the Arabs themselves sought alternate suppliers.

The soy crop in Argentina, which, similar to the Mid-South region of Brazil, is harvested from February to April, should amount to 31 million tons this year. Last year, the Argentineans harvested 43 million tons.

Paraná was the leading Brazilian soybean exporting state to the countries in the League of Arab States in April and also in the first four months of the year. Out of the US$ 50 million in revenues from soy sales to the region from January to April, Paraná accounted for US$ 30 million. Of the US$ 26 million recorded in April, US$ 21.1 million were exported by the state of Paraná.

Paraná posted total revenues of US$ 629 million from soybean exports in the first four months of the year, growth of 26% over the US$ 497 million sold in the same period of 2008. The increase in volume was even greater, at 38%, due to the fact that there was a reduction in price.

The state exported 1.7 million tons from January to April this year, as against 1.2 million during the same period of 2008, according to information supplied by the Faep.

In addition to Paraná, the Brazilian states of Mato Grosso, Mato Grosso do Sul and Goiás have also exported soybean to the Arab countries. According to data provided by the National Food Supply Company (Conab), Mato Grosso, Goiás and Paraná were the states that increased their planted area for soy this year.

In total, Brazil planted 21.65 million hectares of soy, an area 1.6% larger than in the previous crop, and the three states mentioned above were the ones that contributed the most.

The Arab nations that bought Brazilian soy, from January to April, were Saudi Arabia, with US$ 20.5 million, Morocco, with US$ 18.3 million, Egypt, with US$ 11 million, and Lebanon, with US$ 315. In April, the countries that purchased from Brazil were Saudi Arabia, with US$ 14.9 million, and Egypt, with US$ 11.1 million.

Anba

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