Paraguay: Soybean shipments show signs of recovery

Published 2023년 3월 15일

Tridge summary

In the first two months of 2023, Paraguay experienced a significant boost in its economy, particularly in its agricultural sector, as over 600,000 tons of new harvest soybeans were exported, a 2.5% increase from the previous year. This surge injected USD 273 million into the national economy, with Argentina and Brazil being the main importers. Despite a slight delay in the soybean harvest due to weather conditions, a promising production forecast is expected. However, there was a noticeable decrease in the export of soybean oil and pellets. The leading companies in grain exports included Cargill, Viterra, and Agrofértil, with LAR leading in land-based exports. This trend is anticipated to continue as more soybeans reach the ports.

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

Original content

Lic. Sonia Tomassone, Capeco's Foreign Trade advisor, explained that in the second month of the year there was a dizzying outflow of new harvest soybeans, since practically in one month more than 600,000 tons were evicted. This scenario revitalized the entire logistics chain, both river and land, and generated a significant domino effect in other sectors of the economy, as well as a lot of work for the countryside, he highlighted. Although the soybean harvest is still delayed for weather reasons, a good production is expected, "although until the soybeans are in the silos we will not be able to adjust the outlook," Tomassone said. In the first two months of the year, 607,926 tons of soybeans were removed, an increase of 14,672 tons (2.5%) compared to the same period in 2022, when 593,254 tons were exported. Between January and February 2023, soybean exports injected USD 273 million into the national economy, that is, USD 65 million more (31.2%) than the first two months of 2022, ...

Source: Productivacm