Where does the soy flour go?

Of all the products that Argentina produces, the one that the world buys the most from us is soymeal. This product has been for decades the country's main export, making Argentina the world's number one exporter of soymeal and soy pellets at the same time. Taking the average for 2019-2024, soymeal has represented more than 13% of national exports. Furthermore, this product alone has reached over 17% of Argentine foreign trade in periods such as 2014-2016. The current situation finds the country's main export product with relatively low FOB values and operating at prices that are the lowest in over 15 years during part of the current 2024/25 campaign. This has had a marked impact on the exports of soymeal in dollars. With average export prices almost 20% below the previous campaign, the values per exported ton were at the lowest levels seen since the 2007/08 campaign. The situation is even more complex if we consider that these prices are expressed in nominal terms. If we adjusted ...