Argentina achieves a record exporter of soybeans and derivatives in the first quarter of 2022
Argentina, one of the main world producers and exporters of grains, achieved exports of soybeans and derivatives for a record 5,025 million dollars in the first quarter of this year, according to a report released this Friday by the Rosario Stock Exchange.
Despite the record reached in terms of value, this has not been the first quarter with the highest tonnage exported in the history of Argentina.
According to the report, between January and March shipments of soybeans and derivatives reached 9.06 million tons, below the historical mark of 9.44 million tons in the first quarter of 2016.
The record of exports in value is explained by the significant rise in prices of oilseed and its derivatives in international markets.
To this is added the realization in the first quarter of the year of many shipments that could not be made last December due to union conflicts in the export ports of Argentina.
The value of exports of soybean meal and pellets “virtually doubled” compared to the same period last year, while that of oil grew 134% year-on-year, according to the report.
In addition, external shipments of biodiesel increased in value by 57%.
In contrast, soybean exports fell by 24% year-on-year, although these shipments have less relative weight in the total exports of the soybean complex.
CORN AND WHEAT EXPORTS
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“The report also shows that in the first quarter Argentine exports of corn and derivatives reached a value of 1,184 million dollars, a figure only surpassed in historical terms by sales of 1,208 million registered in the same period of 2020.”
“Similarly to what was analyzed for the exports of the soybean complex, the high income in dollars from the shipments of the corn complex is eminently attributed to the good international prices,” commented the Rosario Stock Exchange.
In this first quarter of 2021, Argentina exported 5.73 million tons of corn and derivatives
Meanwhile, wheat exports totaled 1,023 million dollars in the first quarter, with a year-on-year drop of 28%.
“The drop is mainly explained by the drop in the quantities exported by Argentina: while in 2020 the wheat complex exported more than 7.3 million tons, this year shipments totaled about 4.7 million tons in the first quarter, exhibiting a year-on-year drop of 36%”, specified the Rosario Stock Exchange.
The report notes that “the considerable drop in tonnage is partially offset by improvements in international prices.”
