Argentina sold almost 80 percent of the 2021/22 soybean crop

Argentine farmers already have 78,9% of the Soybeans (over 34,7 million tons) of the 2021/22 season harvest increased in price. This is reported by the Reuters news agency, citing information from government officials in the country.

From December 15 to December 21 this year, farmers sold 730.000 tons of oil, which is one of the highest weekly figures in recent months. The overall conversion volume is still worse than in the previous year (80%).

Last month, soybean sales surged after the authorities resumed the preferential exchange rate mechanism ("soy-dollar") in the domestic market.

Recall that two months ago Argentine farmers could export a ton of soybean at a preferential rate of 200 pesos for $1, although the official rate at that time was around 139 pesos for $1. Then this measure brought the country an additional about 8 billion dollars.

From November 28 to the end of this year, traders can sell oilseeds abroad at the exchange rate of 230 pesos for $1, although the real rate has fluctuated around 176 pesos for $1 (data 29.12.2022/XNUMX/XNUMX).

Argentina is the world's largest exporter of soybean oil and meal, and one of the main suppliers of soybeans to foreign markets.

Source: oleoscope (Russian)

Back to the news