March 7, 2005

 

Argentina's soy stocks increase as its sunseed stocks go down

 

 

Argentina's oilseed industry held soybean stocks totalling 956,272 million metric tonnes in January. That puts stocks up about 56 per cent from the same month in 2004, when they totalled 611,269 tonnes.

 

It is unclear why stocks are up so much from a year earlier.

 

"I don't know of any clear reasons why they would be up by this amount," said Alberto Rodriguez, executive director of the Argentine Oilseed Industry Chamber. "It may be that farmers were simply in more of a hurry to sell their own stocks."

 

Soyoil stocks were 193,564 in January, down almost 40 per cent from 320,963 tonnes the previous year.

 

Stocks of soy pellets amounted to 357,084 tonnes, down 28 per cent from 498,174 tonnes in January 2004.

 

On the other hand, sunseed stocks fell 54 per cent, from 442, 297 tonnes in January last year, compared with 202, 336 tonnes in Jan. 2005

 

It is also unclear why sunseed stocks are down.

 

Sunoil stocks totalled 48,345 tonnes in January, down 56 per cent from 110,660 tonnes a year ago.

 

Finally, stocks of sunseed pellets in January were 33,573 tonnes, which is down 55 per cent from the previous year, when pellet stocks totalled 74,747 tonnes.

 

The following tables show Argentina's monthly oilseed stocks as measured in metric tonnes. The data refer to stocks held by the crushing industry and do not include unsold material held by farmers.

 

Oilseed Industry Stocks

 

   Product        2005         2004

 

 Soybeans

   January      956,272      611,269

 

   Soyoil

   January      193,564      320,963

 

   Soy Pellets

   January      357,084     498,174

 

   Sunseed

   January     202,336      442,297

 

   Sunoil 

   January      48,345      110,660

 

   Sunseed Pellets

   January       33,573       74,747