Paraguay: Soybean exports increase but low prices generate less income

Between January and May 2024, Paraguay shipped 4.6 million tons of soybeans, a variation of 34.4% (1,169,385 tons more), since during the first five months of last year 3.4 million tons had been shipped. Despite the greater volume exported in these five months, income was lower than the same period last year due to the low price of soybeans. Thus, until May, shipments generated USD 1,788 million, that is, a difference of USD 79.7 million (-4.3%), compared to the USD 1,868 million reached until May 2023. In the fifth month of the year, the national product was quoted at USD 392 per ton, while in the same period of 2023 the price had reached USD 550 per ton. This difference of $158 is equivalent to a 29% decrease. The BCP report indicates that in May the average price of soybeans on the Rosario Stock Exchange increased by 6.5% compared to the previous month, although when compared to May of last year, it showed a reduction ...