Record soybeans output reported in Paraguay

Published 2024년 12월 10일

Tridge summary

The Paraguayan Chamber of Grain and Oilseed Producers and Exporters (Capeco) has announced that the country produced nearly 11 million tons of soybeans during the 2023-24 season, generating revenues of around US$ 4 billion. Despite challenges like adverse weather and market conditions, Paraguay achieved high soybean production and maintained solid foreign trade, with Argentina, Brazil, and Russia being the main destinations for exports. Capeco remains cautious about the final wording of the Free Trade Agreement between the European Union and the Southern Common Market, awaiting ratification from both blocs. Additionally, soybean oil exports have increased, with India as the main buyer.

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Original content

The Paraguayan Chamber of Grain and Oilseed Producers and Exporters (Capeco) announced Monday that the South American country produced nearly 11 million tons of soybeans during the 2023-24 season, which generated revenues of around US$ 4 billion up to last month, a significant progress from the previous US$ 3.5 billion. According to the guild, an area of 3.65 million hectares was planted, based on an average productivity of 3,000 kilograms per hectare. “Despite adverse weather and market conditions in 2024, Paraguay achieved a high soybean production and maintained a solid foreign trade of the oilseed and its derivatives,” said Capeco's president, José Berea, during a press conference. Capeco Foreign Trade Advisor Sonia Tomassone also explained that Paraguay was to export some 7.8 million tons. The main destinations continue to be Argentina (83%), Brazil (10%), and Russia. Tomassone also pointed out that Paraguay remained the fourth-largest exporter and the sixth-largest oilseed ...

Source: MercoPress