Argentina regains leadership in the international soybean meal market

Published Aug 26, 2024

Tridge summary

Argentina has reclaimed its position as the world's leading exporter of soybean meal, with a 46% increase in exports in the first half of 2024, as reported by the Rosario Stock Exchange. This recovery follows a significant drought in 2023 that had diminished its production capacity. However, the country faces long-term challenges to remain competitive against Brazil and the United States, especially in Southeast Asia, where demand for soybean meal is on the rise. Argentina's export growth is not enough to regain the lost ground and maintain market share, due to factors like underutilization of processing plant capacity and the concentrated industry location around Rosario.

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

Original content

Argentina has once again positioned itself as the world's leading exporter of soybean meal, overcoming the devastating effects of the 2023 drought, which had significantly reduced its production capacity. This was reported by the Rosario Stock Exchange, which indicated that in the first half of 2024, an increase of 46% in exports was recorded. In this way, Argentina is reaffirming itself in the global market, although it faces long-term challenges to maintain its competitiveness against Brazil and the United States, its main rivals in the sector. For decades, Argentina was the undisputed leader in the export of soybean meal. However, the 2022/23 campaign represented a negative turning point for the country, when the worst drought in 60 years caused Brazil, for the first time in a quarter of a century, to manage to exceed its export volume. Despite this temporary drop, recent data show a notable recovery in the production and export of this product, allowing Argentina to regain ...

Source: Infobae