Argentina: with soybeans recovering, the country should once again become the main global exporter of bran, says BCR

Soybean

Published Mar 28, 2024

Tridge summary

Argentina is poised to regain its status as the world's top exporter of soybean meal in the 2023/24 season, as per the Rosario Stock Exchange. This recovery follows a loss to Brazil in the previous season and comes after a severe drought impacted the 2022/23 soybean crops. With an estimated soybean production of 50 million tons for the current season, the country expects a significant increase in soybean meal and oil production, to 29.1 million tons and 7.5 million tons respectively. This rebound is set to enhance Argentina's exports, boost its economy, and create jobs in the agribusiness sector.

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Original content

São Paulo, 03/27/2024 - Argentina is expected to return to being the main global exporter of soybean meal in 2023/24, after losing the position to Brazil in the previous season, according to the Rosario Stock Exchange (BCR) . In addition, BCR projected the recovery of the country's soybean oil production, after complications related to drought in soybean crops in the 2022/23 season. BCR estimates soybean production in Argentina at 50 million tons in the current 2023/24 campaign. “The expected increases would not only contribute to the strengthening of national agribusiness, but could also have a significant effect on the country's economy through increased exports and the creation of jobs in the sector”, stated the Exchange, in a note. After a period of severe drought, in which soybean production recorded the lowest volume in three decades, the Stock Exchange estimates that the country will produce 29.1 million tons of soybean meal in the current season, an increase of 10 million ...

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