Paraguay: The neighboring country breaks export records but its income stagnates due to the fall in soybean prices

Published 2024년 11월 16일

Tridge summary

From January to October 2024, Paraguay saw a record high in soybean exports, reaching 7.7 million tons, a 35% increase from the previous year, but earned only 1.2% more in income due to falling oilseed prices. Argentina was the main buyer, accounting for 85% of the exports, while Brazil took 10%. Soybean manufacturing also saw growth, but with decreases in value, with soybean flour and oil exports totaling 910.1 million dollars, down by 15.3% from the previous year. Wheat exports also increased, with a 123% rise in value and 180% rise in volume, mainly to Brazil. Despite challenges in the sowing area and production cycle, high yields are expected.

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

Original content

From January to October 2024, soybean exports from Paraguay reached a total of 7.7 million tons, which represents a record volume for the neighboring country, with a growth of 35% compared to last year. In any case, this export flow generated an income of 3,074 million dollars, only 1.2% compared to the same period in 2023, due to the notable drop in oilseed prices. The data comes from a report by the Union of Production Guilds (UGP), which cites statistical data from the Central Bank of Paraguay. According to this source, in terms of destinations, Argentina remains the main buyer of Paraguayan soybeans, with 85% of the volume sent, while Brazil occupies about 10% and the remaining percentage is divided between Russia, Peru, Spain, the United States, Uruguay, Japan, Chile, South Korea, Kuwait, Guatemala and Indonesia. Soybean manufacturing also registered growth in the volume of shipments, but with falls in terms of value. Soybean flour exports reached 572.7 million dollars with a ...

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