Lower demand reduces soybean oil prices

As for soybeans, prices were supported last week by external and exchange rate appreciation

19.09.2022 | 14:08 (UTC -3)
Cepea
As for soybeans, prices were supported last week by external and exchange rate appreciation. - Photo: Wenderson Araujo/CNA
As for soybeans, prices were supported last week by external and exchange rate appreciation. - Photo: Wenderson Araujo/CNA 

Soybean oil prices are falling in Brazil, already operating at the lowest levels of the year. According to Cepea researchers, the pressure comes from the low demand for soybean oil, especially for the production of biodiesel, and the greater availability of the derivative in Argentina.

As for soybeans, prices were supported last week by external and exchange rate appreciation. Cepea researchers indicate that, now, with the end of the period of sanitary emptiness in many states, agents are paying attention to the Brazilian countryside.

Producers in the western region of Paraná are already starting sowing in the 2022/23 harvest. Brazilian production is estimated by the USDA at a record volume of 149 million tons, 18,25% above the previous season.

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