April 24, 2007

 

Argentina's February-1 soy industry stocks up 56 percent on-year

 

 

Argentina's oilseed industry held soybean stocks totalling 1,252,286 tonnes as of Feb 1, according to the Agriculture Secretariat's latest data.

 

That puts stocks up 56 percent from the same month in 2006, when they totalled 803,544 tonnes.

 

Soyoil stocks totalled 346,045 tonnes as of Feb 1, up 39 percent from the 249,368 tonnes in stock the previous year.

 

Stocks of soy pellets amounted to 506,705 tonnes, down 26 percent from 686,509 tonnes a year ago.

 

Argentina produced a record 41.3 million tonnes of soy in 2005/06, compared with 39 million tonnes a year earlier, according to the US Department of Agriculture. The country is expected to produce 45.5 million tonnes of soybeans from the 2006/07 crop, according to the Agriculture Secretariat.

 

Argentina is the world's leading soyoil and soymeal exporter.

 

 

Sunseed stocks

 

 

Meanwhile, oilseed crushers held 375,807 tonnes of sunseed stocks as of Feb 1, down 26 percent from the 510,577 tonnes held a year earlier.

 

Sunoil stocks totalled 79,566 tonnes, down 5 percent from 84,131 tonnes a year earlier.

 

Sunseed pellet stocks were 42,187 tonnes, down 25 percent from the previous year, when stocks totalled 56,537 tonnes.