Are Argentina’s giant soybean processing plants running out of soybeans?
BUENOS AIRES, Oct 5 (Reuters) – Argentina’s giant soybean processing plants are running out of soybeans after a historic drought cut the crop in half, the head of the country’s grains export chamber told Reuters, and this will leave well over two-thirds of factory capacity idle.
Why is Argentina running out of soybeans?
Our Standards: The Thomson Reuters Trust Principles. Argentina’s giant soybean processing plants are running out of soybeans after a historic drought cut the crop in half, the head of the country’s grains export chamber told Reuters, and this will leave well over two-thirds of factory capacity idle.
Does Argentina export soybeans?
Argentina also exports soy as raw beans to China (4.7 Mtonnes exported in 2021) and oil to India (4.2 Mtonnes in 2021). Following the lifting of the Registro de Operadores de Soja Autorizados in 2016, soybean imports into Argentina increased 440% from 0.9 Mtonnes in 2016 to 4.9 Mtonnes in 2021.
Where do soybeans come from in Argentina?
In Argentina, soybeans are typically exported from the Province of Buenos Aires through Necochea (Quequén), Bahia Blanca and upstream of Buenos Aires. Crushed products are exported from ports in and around Rosario (Santa Fe Province) where traders have their own terminals to store, crush and export soy products.
Does Argentina have a soy supply chain?
Yet, while Argentina’s position creates a challenge for tracing sources of soy across borders and within Argentina, systems are already in place that could bring more transparency to the soy supply chain. Between 2015 and 2019, Argentina exported over 200 million tonnes (Mtonnes) of soy, 67% of which was soy cake.
Which country has overtaken Argentina for soymeal exports?
Neighbor Brazil, which had a bumper season, has overtaken Argentina for soymeal exports. The drought, which dragged Argentina’s 2022/23 soy harvest down to around 20 million tons, has forced the country to import a record number of soybeans from regional neighbors Paraguay, Bolivia and Brazil to keep its crushing factories open.