Argentine soybean meal exports recover 45%

Published 2024년 10월 15일

Tridge summary

Argentine soybean meal exports are experiencing a surge with a 60% increase in September compared to the previous year, reaching 2.3 Mt, and accumulating 16.8 Mt since the campaign's start, 45% above the previous campaign. The efficiency of the local crushing process has improved, leading to higher soybean meal production. However, the Argentine oil industry continues to struggle with idle capacity and negative margins. The industry relies heavily on imported soybeans, primarily from Paraguay, and faces challenges in reaching pre-2023 processing levels. Despite global soybean meal prices being bearish, Argentine export prices are being maintained due to increased premiums. Soybean meal shipments to Europe and Asia have seen significant growth, with Europe experiencing an 80% increase and Asia, 45%. This comes as global soybean crush levels are expected to reach record highs due to increased demand for vegetable oils amidst abundant international soybean supplies.

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

Original content

(NAP) Argentine soybean meal exports are maintaining excellent commercial dynamics, thanks to the recomposition of soybean production in Argentina, the production of soybean meal and the level of exports of Argentina's main export product, which is why it is expected to reach the highest growth rate between campaigns since records began. During September, 2.3 Mt of soybean meal would have been shipped, 60% more than at this time last year. For the moment, the pace of shipments has been meeting the forecasts, accumulating 16.8 Mt of soybean meal that would have been sent abroad since the beginning of the campaign, 45% above the previous campaign and even positioning itself ahead of the average. According to data released by the economic area of the Rosario Stock Exchange (BCR), as of August, 18.7 Mt of soybeans were processed via solvent so far in the 2023/24 campaign, consequently producing 14.3 Mt of soybean meal, 40% more than at this time last year and recovering the average ...

Source: Noticias Agropecurias