The data is overwhelming, according to the official statistics of the Ministry of Agriculture based on the Sworn Declarations of Sales Abroad (DJVE), between January and April of this year a total of just over 21.7 million tons of grains, which represents a year-on-year increase of 28.4% since in the same period of the previous year 16.9 million had been exported. On the opposite side, exports of oil and by-products (soy flour and expeller) fell sharply. In the first case, the mark reaches 36% because in the first quarter of this year only 1.6 million tons were shipped, when until April of last year more than 2.5 million tons were accumulated. As for by-products, the decline is almost 12% because 9.3 million tons were exported in 2022 compared to 10.5 million last year.
As explained in the agro-export sector, during the first four months of the year, agricultural producers chose not to sell soybeans as in other campaigns and there was basically a lack of raw material to grind. Given the instability of the economy and waiting for a devaluation, producers keep soybeans as a refuge of value.
On the other hand, the increase in withholdings on by-products would have attacked the industry’s ability to offer better prices for soybeans, in a context of high international prices. From Ciara – Cec (the chamber that brings together the main agro-export companies) they detail that the Argentine oil industry faces the longest period of negative soybean crushing margins in its entire history. “Since August of last year to date, about to be one year old, the oil industry has been working with negative margins, fulfilling its role as the world’s leading exporter of soybean meal and oil, in a context of security crisis. global food supply, aggravated by the Black Sea conflict”, they explain.
Meanwhile, from the sector they anticipate that the grinding of soy last May reached 4.1 million tons, thus showing an increase of 178,000 tons equivalent to 4.5% compared to the previous month (3.9 million tons ). In any case, if it is compared with May of last year, it is evident that the industry was reduced by 196,000 tons, or its equivalent of 4.8%. “Because of the fall in soybean production this year, as a result of the drought; Due to the lower volume of soybean imports from Paraguay, with losses of 50% of its production, the total volume of soybean crushing will suffer a substantial drop, affecting the production and exports of soybean meal and soybean oil, where Argentina is leader in world trade”, advance from Ciara – Cec.
Source: Ambito
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