Brazil shipped 47% more soy oil abroad through April than a year earlier, reaching the second-highest volume for the period in two decades.
Record soybean processing has swollen soy oil supplies just as delays to planned biodiesel mandate increases stalled expected domestic demand.
That surplus has widened Paranaguá soy oil discounts to the deepest since 2023, even as Chicago soy oil futures have climbed nearly 56% this year.
The export surge adds to broader strength in Brazilian agribusiness trade, which hit a record $16.65 billion in April amid a bumper soybean crop.
While agribusiness giants celebrate record profits, why are Brazil’s small farmers being left further behind?
As Brazil pivots to domestic biofuel, will global food markets face a future soybean shortage?
What is the hidden environmental cost in the Cerrado biome behind Brazil's record-breaking agricultural exports?
Brazil’s Agribusiness Exports Hit Record Highs in 2026: Growth Drivers, China Ties, and the Push for Sustainable Innovation
Overview
In early 2026, Brazil's agribusiness sector reached historic highs, driven by a 9.5% increase in export volume and a 2.1% rise in average export prices compared to the previous year. This growth was fueled by strong international demand, especially for soybeans, which significantly boosted export revenues. As a result, the sector achieved a substantial trade surplus of US$15 billion in April, while imports of agribusiness products decreased by 3.6%. These achievements highlight Brazil's strong position in global agricultural markets and its ability to capitalize on shifting international trade dynamics.