Record soy crops in Brazil
Soy is one of the most popular oilseeds cultivated by mankind. In 2014/2015 season, the Brazilians expect the largest harvest of soy in history.
The big three
Soy has a variety of applications. It is used in the production of food, fats and fodder. Brazil is the second biggest producer of soy in the world. Last season, the volume of crops reached 87.5 million tonnes. The USA leads the ranking (89.35 million tonnes in 2013/14), while Argentina comes third (54 million tonnes in 2013/14).
This year’s Brazilian soy harvest is estimated at 88.8 – 92.4 million tonnes, or 5.5% more than in the previous season. Increasing the acreage of soy plantations is connected with a drop in demand for maize, which has brought its prices down on the global market. Local manufactures prefer to invest in soy, which provides higher income. If the crops prove closer to the maximum estimates, Brazil will produce over 30% of the global supply of soy in 2014/15 season.