Brazil to increase some meat exports in 2024, but analysts predict a slight dip in soy projections

Brazil, the world’s top poultry meat exporter, is expected to increase chicken meat exports in 2024. On the other hand, the country’s soybean projections for the South American agricultural leader are expected to dip slightly in the New Year.

Brazil, the world’s top poultry meat exporter, is expected to increase chicken meat exports in 2024. On the other hand, the country’s soybean projections for the South American agricultural leader are expected to dip slightly in the New Year

Increased Chicken Meat & Pork Exports

Higher chicken meat production is anticipated in the coming year for Brazil, and negotiations are also expected to expand Brazil’s pork exports. New markets are being targeted with both the United Kingdom and Malaysia in their sights.

Brazil held 35 percent of the poultry market share in 2022 and remains unaffected by the devastating outbreak of High-Path Avian Flu (HPAI) in commercial poultry.

The director of the Brazilian Association of Animal Protein notes that reduced shipments from competitors like the European Union and Canada could also give a boost to exports at a time when poultry producers across the globe are constrained by the disease.

Slight Dip in Soy Projections

Also in Brazil, the soybean output projection for this year and next has been reduced to just over 160 million metric tons.

According to the Brazilian Association of Vegetable Oil Industries, analysts predict a one-percent increase compared to the previous year. The updated forecast has resulted in a minor dip in projected soybean exports for the coming year. The Association also made adjustments to crush estimates for soybeans, soy meal, and soy oil production and export projections for both 2023 and 2024.

Related Stories
A market analyst with DTN says the ethanol market for corn and the renewable diesel market for soybean oil are two much-needed sources of demand but the RFS program sets minimum volume requirements for those biofuels.
Exports are predicted at nearly 1.9 billion bushels, and crush is expected to take up 2.4 billion bushels, an all-time high.
Did you know that eight states raise nearly 77% of the U.S. turkey supply? It’s impressive. But when it comes to the impacts of High-Path Avian Flu on commercial turkey flocks — it also means those same states, in most cases, will bear the brunt of lost production value due to the virus.

Marion is a digital content manager for RFD-TV and The Cowboy Channel. She started working for Rural Media Group in May 2022, bringing a decade of experience in the digital side of broadcast media as well as some professional cooking experience to the team.