Farmers in Brazil and Argentina are likely to strongly expand soybean sowings for the 2012 harvest as global soy demand grows, Hamburgbased oilseeds analystsOil Worldsaid June 21.
Brazil’s soybean sowings for harvesting in early 2012 are likely to be increased by about one million hectares on the year to 25.2 million hectares, continuing recent expansion which resulted in a record Brazilian soybean crop in 2011, it said.
Argentine soybean plantings are likely to expand by 0.55 million hectares on the year to 19.2 million hectares for the 2012 crop, it estimates.
North America has only limited potential to expand soybean-sowing area,Oil Worldsaid. The United States is the world’s largest soybean producer, Brazil is No. 2 and Argentina No. 3.
“In contrast, there is considerable potential for further expansion of plantings in South America, although environmental concern and application of sustainability criteria will gain importance and may limit the further acreage expansion,” it said.
Global 2011-12 soybean consumption is likely to exceed production by about four million tonnes despite larger harvests looming in South America, Oil Worldsaid on June 14.
