Last year’s crush volume was just 27 million tonnes, down from 38 million in 2022, according to the board’s estimates. To make up for the paltry volumes coming in from Argentina’s parched fields, far more soybeans were imported: 10.4 million tonnes, the highest on record, compared with 3.3 million tonnes in 2022. Just over half of 2023’s bean imports (5.8 million tonnes) came from Paraguay. However, Brazil, which is not usually a major supplier, shipped 4.1 million tonnes to Argentina after a plentiful harvest. Soy export dutiesMeanwhile, analysts warn that the proposed increase in export duties on soy meal and oil discourages processing and could have knock-on effects for growers.

Source: Bueno Aires Herald January 23, 2024 22:44 UTC