In November, Argentina reduced the processing of soybean and sunflower

Published 2021년 12월 24일

Tridge summary

Argentina's soybean processing volume in November was lower than expected, at 2.9 million tons, a 13% decrease from October and the first time it has been lower than the previous year in 11 months. This is due to farmers limiting soybean sales. As a result, soybean product stocks have decreased, with soybean oil stocks at their lowest in 11 months and soybean meal stocks at their lowest in two months. Sunflower seed processing also decreased slightly, but sunflower oil and meal stocks have increased from the previous month. There is predicted to be a significant increase in sunflower oil exports in December due to high demand from India, South Africa, and Australia.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to experts from Oil World (Germany), the volume of processing of soybeans in Argentina in November did not meet the expectations of market operators and amounted to 2.9 million tons, which is also 13% less than in October this year. (3.3 million tons), and for the first time in the last 11 months was lower than the same month last year. One of the reasons for the decline in oilseed processing in the country is the containment of soybean sales by farmers. Against this background, stocks of soybean products in Argentina declined. In particular, stocks of soybean oil in November fell to 224 thousand tons against 249 thousand tons in the previous month, which is also significantly lower than last year (326 thousand tons), and soybean meal - to 807 (1018; 983) thousand tons. The volume of sunflower seeds processing in November also slightly decreased - to 147 thousand tons against 153 thousand tons in October, which is nevertheless higher than in November 2020 (121 thousand ...

Source: Oilworld