Argentine soybean exports slip to near 15-year low
Soybean
Grains, Cereal & Legumes
Argentina
Market & Price Trends
Published Feb 19, 2024
Tridge summary
Argentina's soybean export revenue dropped to $13.697 billion in 2023, the lowest since 2009, as reported by the Rosario Grain Exchange. Despite the decline, the oilseed industry remained the country's primary export sector. The majority of the exports were to China, with India and Vietnam being the top buyers of Argentine soybean oil and meal respectively. A drought led to a decrease in the share of agricultural products in national exports from 55% to 36%, causing the agribusiness sector's revenue to fall by 36% to $36.642 billion.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Argentina at the end of last year received about $13.697 billion in revenue from the sale of soybeans to foreign markets. That result was the lowest for the country since 2009, analysts at the Rosario Grain Exchange said. “At the same time, despite the decline in soybean exports, the oilseed industry remained Argentina’s main export complex,” the experts explained. They note that the main volume of South American oilseed in the reporting period was sent to China – for $1.021 billion. In addition, India remained the leading buyer of Argentine soybean oil in 2023 ($1.387 billion), and Vietnam was a key importer of soybean meal ($1.048 billion). According to the exchange, the share of agricultural products in ...
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