Importers have significantly increased demand for South American soybean oil

Published 2021년 5월 18일

Tridge summary

There has been a substantial surge in the demand for South American soybean oil, leading to a 41% annual increase in exports from Argentina and Brazil to 1.47 million tons in March and April. The majority of this oil was exported to India, China, Bangladesh, Egypt, and Iran, with exports expected to reach a record 4.7 million tons from March to August. This is due to increased shipments from Argentina, Brazil, Paraguay, Ukraine, and the USA in April. Notably, India and China significantly increased their purchases of soybean oil in this period.

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Original content

Importers have significantly increased demand for South American soybean oil, which is why in March-April this year. total product exports from Argentina and Brazil increased by 41% per year to 1.47 million tons. The bulk of the oil was shipped to India, China, Bangladesh, Egypt and Iran. This was reported by Oil World, writes agronews.ua. According to experts, in March-August this year soybean oil exports from South America could rise to a record high of 4.7 million tons (+ 0.7 million tons per year). As for the export of soybean oil in April this year, shipments from Argentina increased to 640 thousand tons against 502 thousand tons, from Brazil - to 210 (118) thousand tons. Shipments from Paraguay also increased - 39 (37) thousand tons, from Ukraine - 24 (21) thousand tons and the USA - to 60 (71) thousand tons. Total exports of these products from these countries last month increased to 974 thousand tons compared to 748 thousand tons in March, which also exceeds the figure in ...

Source: AgronewsUA