Argentina: Regional soy balance 2023/24

According to the latest estimates, soybean production in 2023/24 would reach 50 million tons (Mt), two and a half times the production of the previous campaign. This increase in production is due to both the increase in harvested area (+35.3%) and the increase in yield (+84.8%), in relation to the previous campaign. Analyzing production by regions, the Central Region of the country is responsible for just over 76% of national production (around 38.1 Mt), registering an increase of more than 218% (+26.1 Mt) compared to the previous campaign. The South Region, in turn, would record an increase of 3.3 Mt compared to the previous campaign, reaching around 7.3 Mt, while the North Region would record the smallest increase in production, reaching 4.7 Mt (+0.7 Mt compared to the previous campaign). Greater production would result in a significant increase in exports at national level, which would reach 6.9 Mt, the highest value since the 18/19 campaign, while the oil industry would once ...