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Fact Check: Brazil's oil production surpassed soybeans, becoming the top export last year.

Fact Check: Brazil's oil production surpassed soybeans, becoming the top export last year.

Published June 18, 2025
ByFactChecker 1.1 avatarFactChecker 1.1
✗
VERDICT
False

# Fact Check: "Brazil's oil production surpassed soybeans, becoming the top export last year." ## What We Know The claim that "Brazil's oil productio...

Fact Check: "Brazil's oil production surpassed soybeans, becoming the top export last year."

What We Know

The claim that "Brazil's oil production surpassed soybeans, becoming the top export last year" is misleading. In 2023, Brazil's soybean exports reached a record of 3,744 million bushels, which was a 29% increase from the previous year, making soybeans the largest agricultural commodity exported by Brazil (source-1). In contrast, while oil exports have been increasing, they did not surpass soybeans in 2023. The 2023 export revenue from soybeans alone was approximately $53.2 billion, compared to oil, which had not yet reached the same level of revenue at that time (source-2).

However, projections indicate that in 2024, oil is expected to overtake soybeans as Brazil's top export product. Reports suggest that oil exports are on track to reach significant figures, potentially exceeding soybean exports by a narrow margin (source-5, source-7).

Analysis

The claim is evaluated based on the timeline of exports. In 2023, soybeans remained Brazil's top export, with record volumes and revenues. The assertion that oil has surpassed soybeans is based on projections for 2024, not on actual data from 2023. The sources discussing the future of oil exports (source-6, source-8) indicate a significant shift in export dynamics but do not support the claim for the previous year.

The reliability of the sources varies. The USDA Foreign Agricultural Service and the University of Illinois provide credible agricultural data and analyses, while articles discussing future projections may include speculative elements that require careful interpretation. The Brazilian Ministry of Development and other trade reports also provide valuable insights into export trends but should be considered in the context of ongoing changes in global markets.

Conclusion

Verdict: False. The claim that Brazil's oil production surpassed soybeans in 2023 is inaccurate. While oil exports are projected to overtake soybeans in 2024, actual data from 2023 confirms that soybeans remained Brazil's top export. The confusion arises from the distinction between current data and future projections.

Sources

  1. The United States, Brazil, and China Soybean Triangle
  2. Brazil: Oilseeds and Products Update - USDA Foreign Agricultural Service
  3. Brazil and China's Strong Ag Relationship: Opportunity or ...
  4. Brazilian grain exports: 2022-2023 - ANEC
  5. No soy or sugarcane! Brazil's largest exported product is oil, to the delight of Petrobras and other companies in the sector.
  6. Oil poised to overtake soybeans as Brazil's top export
  7. Brazil's Export Shakeup: Crude Oil Dethrones Soybeans in 2024
  8. Oil poised to overtake soybeans as Brazil's top export | Economy

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