Brazil’s soybean meal exports reached a record in 2024, according to a retrospective estimate from Conab reported by S&P Global. The January 2025 report put the total at 22.90 million metric tons. That outcome followed earlier forecasts—including the November 2024 outlook from exporters group Anec—that were based on shipments available at the time, not the final calendar-year total.
What was Brazil’s soybean meal export total for 2024?
On January 14, 2025, S&P Global reported that Brazil exported an estimated 22.90 million metric tons of soybean meal in calendar 2024. S&P attributed the figure to Brazil’s National Supply Company, Conab, and described it as a historical high. This is a later estimate of the year’s outcome, not the November forecast from Anec. S&P Global’s January 14 report
What did Anec forecast in November 2024?
On November 13, 2024, Reuters reported that Anec expected Brazil to exceed its 2023 soybean meal export record. Anec’s figures showed 21.12 million tons shipped from January through November 2024, compared with 22.35 million tons for all of 2023. The units and reporting context are those used in Reuters’ account of Anec’s figures. Reuters’ November 13 report
Why Anec thought the record was within reach
Based on those figures, exports needed to exceed about 1.23 million tons in December to pass the 2023 total. Reuters reported that each month of 2024 through November had already exceeded that threshold. This was the reasoning behind Anec’s forecast; it was not a reported final December shipment figure.
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Jean Budziak, head of Anec’s market intelligence area, told Reuters: “Considering that the monthly volume of soybean meal is very linear, we will export more than in 2023.”
How forecasts changed before the final estimate
The estimates are a timeline, not a set of interchangeable measurements. Abiove’s outlooks changed as the year progressed, while Anec’s November forecast relied on partial-year shipment data. The later Conab estimate, as reported by S&P Global, covers the completed calendar year.
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| Organization and source | Publication date | Figure and status |
|---|---|---|
| Abiove, as reported by Reuters | July 2023 | 21.6 million tonnes projected for 2024 exports |
| Abiove, as reported by Reuters | September 12, 2024 | 22 million tonnes projected for 2024 exports |
| Anec, as reported by Reuters | November 13, 2024 | Expected exports to exceed the 2023 record; January–November shipments were 21.12 million tons |
| Conab, as reported by S&P Global | January 14, 2025 | 22.90 million metric tons estimated for calendar 2024; reported as a historical high |
Abiove’s 2023 outlook also discussed drought effects that had lowered expectations for Brazil’s soybean crop. In its September 2024 update, Abiove projected 41.7 million tonnes of soybean meal production alongside the higher export estimate. Reuters on Abiove’s 2023 outlook · Reuters on Abiove’s September 2024 update
Why did exports reach a record?
S&P Global linked stronger soybean meal supply to increased soybean processing, which was supported by demand for soybean oil for biodiesel. It reported that Brazil increased its biodiesel blend from 12% to 14% in March 2024. More crushing can produce more of both soybean oil and soybean meal, connecting demand for the oil to meal availability for export. S&P also reported Conab’s estimate of 52.74 million metric tons of soybean crushing for 2024. S&P Global’s report
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Where to check export destinations and later updates
The cited reports do not establish a final 2024 destination ranking for soybean meal exports. Abiove says its monthly export report is based on Ministry of Economy/Comex Stat data and provides volume and revenue views by product, trading partners, trade blocs, and ports. Readers needing a destination or port breakdown should consult the relevant monthly data rather than infer one from the headline export total. Abiove statistics
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the record does—and does not—say about prices
A record export volume does not by itself establish that exporters received higher prices or revenues. S&P Global reported that export prices declined during 2024. For historical context only, its report cited a Platts FOB Paranaguá assessment of $329.37 per metric ton on January 13, 2025, down 23.6% year over year. That dated assessment is not a current price quote. S&P Global’s report
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- HIGH PROTEIN CONTENT: Soybean meal provides 45% protein, making it an excellent high-protein supplement for livestock diets.
- VERSATILE USE: Ideal for poultry, swine, and dairy animals as a nutritional supplement to support healthy growth and production.
- FEED SUPPLEMENT: Designed to be used as a supplement and not as a complete feed substitute for your animals.
- QUALITY TEXTURE: Fine, granular meal texture ensures easy mixing into existing feed rations for consistent nutrient distribution.
- ANIMAL USE ONLY: Intended strictly for animal feed purposes and is not for human consumption.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
