Argentina increased soybean meal exports in April

Published 2024년 5월 7일

Tridge summary

In April, Argentina experienced a notable increase in soybean meal exports, reaching 2.3 million tons, which is 0.5 million tons higher than the previous year. The exports were primarily directed towards the European Union, Vietnam, Saudi Arabia, Iran, Iraq, Ecuador, and Australia. This surge is linked to a boost in soybean processing within the country, despite a reduction in oilseed sales by local farmers. By April 26, sales of the new soybean crop were down, with only 27% sold compared to 35% by the same date in 2023. The Buenos Aires Grain Exchange predicts the soybean harvest will total 51 million tons, with 20.3 million tons already harvested.

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Original content

According to Oil World, in April, Argentina exported 2.3 million tons of soybean meal, which was 0.5 million tons higher than in April 2023. The main sales markets of the Argentine product last month were EU countries (0.57 million tons), Vietnam (0.37 million tons), as well as Saudi Arabia, Iran, Iraq, Ecuador and Australia. As noted, the increase in shipments was facilitated by the increase in the volume of soybean processing in Argentina, despite the low rates of oilseed sales by local farmers. In particular, as of April 26, 13.6 million tons of the new soybean crop were sold, which is 27% of the expected gross ...

Source: Agroconf