Jan 27, 2015

First Vessel Loading Soybeans at Port of Paranagua

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

The start of the soybean export season in Brazil is getting underway with the loading of the first vessel of soybeans at the Port of Paranagua. The loading started last Friday and it is actually occurring a few days earlier than last year due to a more accelerated harvest pace especially in the state of Mato Grosso

The early soybean harvest in Mato Grosso is advancing faster than last year due to the irregular rains in the state which is encouraging a faster maturation and dry down of the early maturing soybeans. The Mato Grosso Institute of Agricultural Economics (Imea) reported that as of last Thursday, farmers in the state had harvested 7.7% of their soybeans compared to 5.8% last year at this time.

Imea reported the average yield thus far in Mato Grosso is 52 sacks per hectare (3,120 kg/ha or 45.2 bu/ac), which is down from a week earlier when it was 53.5 sacks per hectare (3,210 kg/ha or 46.5 bu/ac).

The first vessel is the Tian Song Feng and it will load 61,700 tons of soybeans destined for Thailand. The vessel will load 43,700 tons from the Cargill terminal and 18,000 tons from the Cooperativa Cotriguacu terminal. By the end of January the port is expecting 27 vessels in the lineup for one million tons of grain including: soybeans, corn, soybean meal, and wheat.

Port officials are expecting an increase in their export capacity with the inauguration of two new shiploaders by February in berth 213. Each shiploader can load 2,000 tons per hour which is 30% more capacity than the ones that are being replaced. Two additional new shiploaders will be up and running in the port's Export Corridor by June.

Soybeans represented the largest export product by value in 2014 at the Port of Paranagua. The value of all the exports from the Port of Paranagua in 2014 totaled USD 16.6 billion and soybeans and soybean products represented USD 3.8 billion or 22.9%.