Brazil is expected to increase its share of the global soybean trade to 60.6% by 2033, according to a study by the US Department of Agriculture’s Economic Research Service.
The study compared factors influencing soybean exports from Brazil and the United States, finding that lower production costs in Brazil, driven by factors like lower land and capital costs, contribute to its competitive position.
The USDA projects that Brazilian soybean exports for the 2023-24 marketing year could reach 100 million tonnes.
Source: Oman News Agency
