It’s Getting Too Expensive to Export Soybeans From Top Grower Brazil
- Road freight costs are higher than expected, Cargill says
- Brazil soybean acres unlikely to shrink on fertilizer shortage
Soybeans are harvested on a farm near Brasilia, Brazil, on March 4.
Photographer: Andressa Anholete/BloombergThis article is for subscribers only.
It’s getting very expensive to export soybeans from Brazil, the world’s top supplier.
That’s according to Cargill Inc., one of the biggest global shippers of the oilseed. Diesel price hikes and worsening road conditions have led to expensive freight rates. The cost to export soybeans this season has exceeded Cargill’s estimates for freight rates by at least 25%, slashing margins, according to Paulo Sousa, who heads Cargill’s operations in the South American nation.