Argentina: Soybean meal exports recover

As a result of the historic recomposition of soybean production in Argentina, the production of soybean meal and the level of exports of Argentina's main export product would reach the highest growth rate between campaigns since records began. For now, by 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 processing level of normal campaigns. In addition, the average extraction ratio, between solvent grinding and pellet production, would reach 76.2%, significantly above the average of the last ten campaigns, increasing the efficiency of the local crushing process, allowing a greater quantity of flour to be obtained for each ton of soybeans processed. However, it is worth noting that the Argentine oil industry has not managed to break through the 30% floor of idle capacity, that is, although the processing level has recovered compared ...