Paraguay: Soybean complex brought in USD 3,457 million until August

Published 2023년 9월 15일

Tridge summary

Paraguay has seen a significant increase in soybean exports, with 4.7 million tons exported in August 2023 compared to 2.05 million tons in the same period of the previous year. This has resulted in higher foreign exchange earnings of USD 2,558 million. While there was also an increase in soybean oil and pellet exports, the income from soybean oil decreased by USD 124 million. Argentina remains the main destination for soybean exports, followed by Brazil, Chile, South Korea, and other transit destinations. Cargill is the leading company in grain exports, while LAR leads in land exports.

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

Original content

At the end of August 2023, Paraguay exported 4.7 million tons of soybeans and earned USD 2,558 million. Lic. Sonia Tomassone, foreign trade advisor at Capeco, highlighted that shipments of the oilseed continue to greatly exceed what was shipped during the same period of the previous year. This is so since until August 2022, foreign exchange reached USD 1,102 million for 2.05 million tons exported. Regarding soybean oil, 335,637 tons were exported until August, 13,058 tons more (4%) than the 322,578 tons in the same period of 2022. In income, however, a decrease of USD 124 million was recorded. (USD 343 million vs USD 468 million). Regarding pellet exports, 1,149,430 tons worth USD 555 million were shipped until August, while in the second quarter of last year 1,071,976 tons worth USD 506 million had been shipped. The Capeco report indicates that both exports of soybeans and their derivatives (oil and pellets) increased their volume and generated a foreign exchange income of USD ...

Source: Productivacm