Huge increase in export of grains/oilseeds from Argentina

16-Nov-2024 09:04 AM

Huge increase in export of grains/oilseeds from Argentina
Argentina is currently experiencing a significant surge in the export of various agricultural products, especially soy and sunflower-based products, maize, and wheat. Here are some key highlights:
Soya Oil / Soya Meal
Exports of Soya Oil and Soya Meal from Argentina have seen a substantial increase, with recent export deals reaching:
2.7 lakh tons of soya oil and 4.56 lakh tons of soya meal in just the past 5 days (as of early November).
Total exports for April to November have already reached:
44 lakh tons of soya oil
216 lakh tons of soya meal
Export growth: From October to November, exports have surged by 50% compared to the five-year average.
Projections suggest Argentina could export up to:
54 lakh tons of soya oil
274 lakh tons of soya meal by March 2024, if the current pace continues.
Sunflower Oil
Sunflower oil exports have also been strong, with 1.32 lakh tons already shipped.
Exports of sunflower oil are expected to reach 11 lakh tons by the end of the current season.
There are expectations that December could see record-high exports for sunflower oil.
Maize
Maize exports are on the rise as well, with 6.25 lakh tons of maize already exported in just the past 5 days, bringing the total to 332 lakh tons.
Wheat
Wheat exports have also increased, with 3.15 lakh tons exported in the last 5 days, bringing the total to 13.3 lakh tons for the current period.
Summary
Argentina's agricultural exports are booming, particularly for soya oil, soya meal, sunflower oil, and maize, and this trend is expected to continue through the end of the year and into 2024. The increase in export volumes, especially in soya products, is a notable growth story for the country’s agricultural sector.