Argentina: Soybean meal exports recover

Published 2024년 10월 15일

Tridge summary

Argentina's soybean production is seeing significant growth in the 2023/24 campaign, with a 40% increase in soybean meal production and a notable efficiency increase in the crushing process. However, the Argentine oil industry is still not at full capacity, with negative industry margins for most of the campaign. The share of imported soybeans is high, and soybean meal exports are projected to increase by 45% for the next campaign, supported by higher prices in the international market. Global soybean crush is expected to reach record levels due to increased demand for vegetable oils and a decrease in production of other vegetable oils.

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

Original content

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 ...

Source: On24