17 January 2012 18:20 [Source: ICIS news]
BOGOTA (ICIS)--Soybean yields in Brazil for 2012 are forecast to decline this year because of bad weather, which could cause demand to outpace supply worldwide, research group CEPEA said on Tuesday.
In the central-western, southeastern and in the southern regions of Brazil, along with Paraguay and Argentina, the volume of rains was low in early January, which may affect yield, CEPEA said.
The soybean crop in the Brazilian state of Rio Grande do Sul is expected to yield 9.9m tonnes this year, or 15.6% lower than the previous season, CEPEA said.
In the Brazilian state of Parana, production is expected to be 12.7m tonnes, or 16.8% smaller than the previous year, the agency said.
The demand for soy remains steady in most consuming countries, surpassing the supply, the report said.
The US Department of Agriculture cut estimates last week for soybean output in Brazil and Argentina because of drought. Global stockpiles will total 53.4m tonnes, down 1.7% from a December estimate, it said.
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