Record soy exports in Mato Grosso
Soy exports in the state of Mato Grosso reached a record in the first half of 2022, according to data from the Secretaria de Comércio Exterior [Foreign Trade Department] (SECEX). Soy shipments reached an accumulated 20.12 million tons in the first half of the year, an increase of 0.72% compared to the same period last year. The higher export volume is linked to the record production in Mato Grosso and the drop in the South American harvest. Among the main oilseed buyers, China stands out, which, despite its lower appetite observed in recent months, due to the zero Covid-19 policy, the accumulated shipments increased by 11.03% in the annual comparison.
In addition, China's representativeness increased by 9.85 percentage points in the first half of 2022 compared to the same period in 2021, participating with 57.64% of soy purchases in Mato Grosso this year.
Finally, a reduction in shipments in the 2nd semester has been historically observed due to the lower supply of grain, however, with the delay in the sale of soy this year and with the dollar showing a trajectory of appreciation, exports for the next six months may present a new record for the period.
According to the Ministry of Agriculture, soy meal exports, the main product of the complex, were 1.20 billion dollars in June (+63.8%). For the first time in the time series, shipments of the product in June surpassed USD 1 billion.
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