January 29, 2008

China helps double Argentinean soy exports for November 2007

Soy shipments from Argentina more than doubled in November 2007, with China accounting for 84 percent of volumes shipped during that month, according to data from the Agriculture Secretariat.

Argentina shipped 1.28 million tonnes of soy in November, up 182 percent from the 452,563 tonnes exported in November 2006.

China was the lead buyer, purchasing 1.08 million tonnes while Thailand followed with 72,961 tonnes. Thailand accounted for 5.7 percent of volumes shipped during that month.

Argentina also shipped 514,996 tonnes of soyoil in November, up from 449,617 tonnes shipped the same month a year earlier.

China was the also largest importer of Argentine soyoil in November, buying 106,451 tonnes. Iran followed with 60,508 tonnes.

Argentina exported 2.74 million tonnes of soymeal and pellets in November, up from 2.13 million  tonnes shipped during the same month a year earlier, with European countries the main buyers.

Argentina is the world's third largest soy producer and exporter, behind the U. and Brazil and is the leading exporter of soyoil and meal.