# Brazil's additional biodiesel demand to hit soyoil, soybean exports - analysts

> Brazil plans to raise its biodiesel blend into diesel from March 2024, a decision analysts say will add internal demand for an estimated 5 million metric tons of soybeans. Analysts expect this to potentially reduce Brazilian soybean and soyoil exports.

- Date: 2023-12-22 · published 2023-12-22T12:00:00.000Z
- Category: policy · region Brazil · magnitude high
- Page: https://feedsoft.ai/events/32777-brazil-s-additional-biodiesel-demand-to-hit-soyoil-soybean-exports-analysts
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Diverting soybeans and soyoil into domestic biodiesel tightens export availability, supporting soyoil and soybean meal-side pricing while weighing on export-oriented supply.

## Read by commodity

- SBM: neutral
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2024-02-21 | [Brazil’s Rising Biodiesel Mandate to Slow Soyoil Exports - AgWeb](https://feedsoft.ai/events/31770-brazil-s-rising-biodiesel-mandate-to-slow-soyoil-exports-agweb.md) | -1.9% | +4.7% |
| SBO | 2021-03-15 | [Biodiesel Boosts Demand for Iowa Soybeans \| Iowa Soybean](https://feedsoft.ai/events/48002-biodiesel-boosts-demand-for-iowa-soybeans-iowa-soybean.md) | +0.0% | -0.5% |
| SBO | 2019-11-12 | [Brazil to boost biodiesel blend to 15% by 2023, helping soy demand](https://feedsoft.ai/events/55928-brazil-to-boost-biodiesel-blend-to-15-by-2023-helping-soy-demand.md) | -2.5% | +0.2% |
| SBO | 2026-06-30 | [Biodiesel boom drives soybean oil to 4-year high](https://feedsoft.ai/events/18887-biodiesel-boom-drives-soybean-oil-to-4-year-high.md) | +1.3% | +1.8% |
| SBO | 2021-06-09 | [Will Biodiesel Demand Lead to a Paradigm Shift in Soybean Oil? \| news.cqg.com](https://feedsoft.ai/events/46442-will-biodiesel-demand-lead-to-a-paradigm-shift-in-soybean-oil-news-cqg-com.md) | -8.6% | -13.5% |
| SOY | 2021-03-15 | [Biodiesel Boosts Demand for Iowa Soybeans \| Iowa Soybean](https://feedsoft.ai/events/48002-biodiesel-boosts-demand-for-iowa-soybeans-iowa-soybean.md) | +0.0% | -2.4% |
| SOY | 2019-11-12 | [Brazil to boost biodiesel blend to 15% by 2023, helping soy demand](https://feedsoft.ai/events/55928-brazil-to-boost-biodiesel-blend-to-15-by-2023-helping-soy-demand.md) | +0.6% | -0.4% |
| SOY | 2026-06-30 | [Biodiesel boom drives soybean oil to 4-year high](https://feedsoft.ai/events/18887-biodiesel-boom-drives-soybean-oil-to-4-year-high.md) | +7.9% | +9.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/brazils-additional-biodiesel-demand-hit-soyoil-soybean-exports-analysts-2023-12-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.