Argentina increased soybean and sunflower processing in January

Published 2024년 3월 12일

Tridge summary

In January 2024, Argentina's oil extraction facilities processed approximately 2.1 million tons of soybeans, marking a 10.5% increase from the same period in the previous year, according to CIARA-CEC. The country's processing capacity utilization also rose to 36% from 32% in the previous year. Additionally, sunflower seed processing reached a five-month high of 218 thousand tons. The USDA predicts that Argentina will harvest 4.1 million tons of sunflower and 50 million tons of soybeans in the 2023/24 season.

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Original content

In January 2024, about 2.1 million tons of soybeans were processed at Argentine oil extraction facilities, the industrial chamber of grain and oilseed exporters CIARA-CEC calculated. They estimated the figure was up 10.5% on December and January 2023 levels. “During this period, the utilization of processing capacity in the country amounted to 36% of the existing potential against 32% in the previous year,” the report said. In addition, experts note that in January the volume of sunflower seed processing in Argentina rose to the maximum value in the last five months – 218 thousand tons. According to the forecasts of the US Department of Agriculture (USDA), in the season-2023/24 in Argentina will be harvested 4.1 ...

Source: UkrAgroConsult