How much soybean production in Argentina in 2024/2025?
Post forecasts Argentina soybean production at 51 million metric tons (MMT) in marketing year (MY) 2024/2025 as production returns to assuming good weather in the year ahead and increased soy planting at the expense of wheat and corn, particularly in late or second crop soy.
Will Argentina lose its position in the world’s largest exporter of soybeans?
As a result of the drought, Post estimates that Argentina will need to import a record 11 MMT of soybeans to achieve a crush of 29.5 MMT. This reduced crush would lead Argentina to export only 18.75 MMT of soybean meal, potentially losing its position as the world’s largest exporter of soybean meal. Soybean oil exports are estimated at 3.65 MMT.
What would happen if Argentina ceased exporting soybean meal?
This reduced crush would lead Argentina to export only 18.75 MMT of soybean meal, potentially losing its position as the world’s largest exporter of soybean meal. Soybean oil exports are estimated at 3.65 MMT. Sunflowerseed production is estimated unchanged at 4 MMT and peanut production is lowered to 970,000 MT due to the effects of drought.
Where does Argentina import soybean oil?
Imports In 2022, Argentina imported $142M in Soybean Oil, becoming the 32nd largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 117th most imported product in Argentina. Argentina imports Soybean Oil primarily from: Paraguay ($142M), Bolivia ($178k), South Korea ($32k), Netherlands ($27.8k), and Germany ($9.28k).
How much soybean will Argentina import this season?
The exchange predicts that Argentina will import 7.9 million tons of soybean this season, up 139% from the previous season, on the back of a harvest of just 27 million tons – from a previous harvest of 42.2 million tons.
Which country exports soybean oil in 2022?
Exports In 2022, Argentina exported $6.79B in Soybean Oil, making it the 1st largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 3rd most exported product in Argentina. The main destination of Soybean Oil exports from Argentina are: India ($3.1B), Bangladesh ($513M), Peru ($404M), Morocco ($260M), and Chile ($244M).