Paraguay: Soybean complex injected more than USD 4.8 billion into the country in 2023
Soybean
Grains, Cereal & Legumes
Paraguay
Market & Price Trends
Published Jan 24, 2024
Tridge summary
Paraguay's soybean exports, encompassing grain, oil, and pellets, saw a significant increase in 2023, generating an income of USD 4,823 million, marking a 105% rise from 2022. The country exported a total of 8,910,944 tons, a 129% increase from the previous year. Argentina was the primary market, accounting for 91% of the exports, with other significant markets including Russia, Brazil, the US, Chile, South Korea, Japan, Uruguay, and Belgium.
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
At the end of 2023, shipments of soybeans in grain, oil and pellets allowed the income of USD 4,823 million, a variation of USD 2,476 million or 105%, when compared to the USD 2,347 million generated in 2022. Paraguay exported 8,910,944 tons of the soybean complex, an increase of 129%, compared to the 3,882,504 tons in 2022, that is, a jump of 5,028,440 tons. Lic. Sonia Tomassone, Foreign Trade advisor at Capeco, explained that both grain exports and soybean derivatives increased the volume sent, which demonstrates a higher degree of processing. The union's data indicates that last year 6.4 million soybeans were sent for USD 3,422 million corresponding to the 2022/2023 campaign and although some figures still need to be reconfirmed, it can be estimated that the production of that harvest was 9.7 million of tons. Regarding byproducts, 522,688 tons of soybean oil were exported for a value of USD 516 million, while the export of 1,895,327 tons of pellets generated USD 885.1 million. ...
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