Exports of the soybean complex in the current commercial campaign are the lowest in 18 years

2023-09-27 17:40:06

The volume exported by the Argentine soybean complex in the January-August period was the lowest in the last 18 years, totaling 11.27 million tons, as a consequence of the impact of the drought on national production of the oilseed, indicated the Buenos Aires Cereal Exchange (BCBA).

“This figure represents 27% less compared to the previous campaign and 37% less than the average of the last 5 campaigns,” indicated the monthly report on grain marketing published by the entity.

The soybean complex exported 27% less compared to the previous campaign and 37% less than the average of the last 5 campaigns, experts indicated, (La Voz)

The BCBA explained that “as a consequence of the 51.5% drop in soybean production for the 22/23 campaign compared to the previous cycle, the grinding and export of the soybean complex have been significantly affected.”

Thus, the accumulated export of oil as of August stood at 1.9 million tons, which implied a drop of 17% compared to the previous campaign, while flour marked a decrease of 28%, with 8.5 million tons shipped and unprocessed beans had a drop of 32% year-on-year to 900,000 tons.

Regarding the start of soybean milling, since the beginning of the campaign, bean processing “has experienced a constant decline taking previous campaigns as a reference.”

Until August, the total amount of processed soybeans reaches 14 million tons, the lowest accumulated figure in the last 17 campaigns.

“As for the previous campaign and the average of the last 5 campaigns, a drop of 25% and 26% is observed, respectively,” they added.

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