Argentina again the main supplier of soybean meal and oil worldwide
Argentina was once again the main supplier of soybean meal and oil globally in 2021, exporting 26.6 and 5.4 million tons, respectively.
According to data released by the US Department of Agriculture (USDA) and the Rosario Stock Exchange (BCR), Argentina ranks first in 2020/21 exports of soybean oil and soybean meal. While in soybeans, our country would reach third place, the BCR highlighted the relevance of the weight “acquired by the Argentine soybean complex in world trade” being among the main suppliers of goods derived from soybeans.
Argentina production contributed 40% of the soybean meal sold globally, being the main world exporter for this product, shipping abroad 26,577,000 tons. In the ranking, Argentina is followed by the Federative Republic of Brazil with 16.8 million, the United States with 12.9 million and Paraguay with 2.4 million.
Thus, together with the rest of the exporting countries, the world trade of soybean meal reached 66.4 million tons throughout 2021
With respect to soybean oil, about 20% of global production is sold on the world market by Argentina, dispatching 5.4 million tons abroad, followed by Brazil with 1.1 million, the United States with 1.2 million. and the European Union with 800,000 tons. In this case, globally, soybean oil trade reached 11.7 million total tons in 2021.
“In this framework, the new 2022 campaign expects a growth in global oil consumption that projects China, Brazil and India leading world demand, which also adjusts world production slightly upwards.”
In Argentine foreign trade, at the level of products shipped abroad, “Flour and pellets from soybean oil extraction” stand out as the main product exported from Argentina, accounting for US$ 7,805 million in 2021.
Then, in third place is “Raw soybean oil, even degummed” with US$ 3,774 million and in fourth position for “Soybeans excluded for sowing” reaching US$ 2,328 million. In this way, “these three products of the soybean complex represented a quarter of Argentina’s total exports of goods in the last year.”
Argentine products that occupy the first places in the world export ranking
World Export Podium
Millions in Exports
of Argentine exports
Argentine Trade Exchange
Estimated figures for April and the first quarter of 2022
Exports, imports and trade balance, in millions of dollars. January 2012 - April 2022
Exports by large items and imports by economic uses. In millions of dollars, participation and percentage variation
↑ ↓= Percentage change compared to the same period of the previous year.
(1) Includes goods dispatched through postal services (courier).
M: millions of dollars.