Paraguay remains a key player in ensuring full supply of soybeans to the Argentine oil industry

Paraguay's soybean supply is allowing the Argentine oil industry to operate this year with a certain normality in the face of an internal trade dynamic affected by macroeconomic distortions. In the 2022/23 cycle, Paraguay "saved" the Argentine oil industry by supplying more than 10 million tons of soybeans in the context of a historic failure of the local harvest caused by a devastating drought. In the first four months of the 2023/24 commercial cycle, although the Argentine soybean harvest recovered, Paraguay continues to export large volumes of soybeans to its neighbor to guarantee the operation of the oilseed industries located in the Rosario area of influence. Argentine soybean processing between April and July of this year was 11.76 million tons, a figure 35% higher than that recorded in the same period of 2023, according to official data The news is that much of this growth was possible thanks to the import in the quarter of 3.20 million tons of soybeans – more than 95% of ...