July saw more than 4 million tons of soybean grinding in Argentina, and grains had to be imported from Paraguay

Published Sep 4, 2024

Tridge summary

In July, soybean grinding reached a ten-year high of 4,381,000 tons, a 10.46% increase from June, due to insufficient local stock, leading to imports primarily from Paraguay. Despite this, soybean exports saw a significant drop to 372,000 tons. The accumulated grinding from January to July was 23.55 million tons, with soybean imports in July totaling 959,357 tons. The lack of incentives for soybean cultivation and the impact of drought have contributed to local production falling behind that of Brazil, the United States, and Paraguay. Sunflower grinding for the January-July period was the third highest on record at 2,350,000 tons.

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

Original content

Soybean grinding in July reached the highest volume for that month in the last ten years, with 4,381,000 tons, 10.46% more than the 3,966,000 that were processed in June, according to the Agroindustrial Monitor presented today by the Chamber of the Oil Industry of the Argentine Republic and the Center of Cereal Exporters (Ciara-CEC). In what has become a constant in recent years, the stock of locally produced soybeans was not sufficient to supply the demand of the processing industry, so it was necessary to resort to importing the oilseed from neighboring countries, mainly from Paraguay. Based on a report from the National Institute of Statistics and Census (Indec), the Ministry of Agriculture, Livestock and Fisheries and the consulting firm Pablo Adreani & Asociados, Ciara and CEC highlighted in their Monitor that “the highest soybean grinding occurred in the month that had a sharp drop in soybean exports,” which reached 372,000 tons compared to 1,415,000 tons the previous month. ...

Source: Baenegocios