July 26, 2006

 

Argentina's May soy exports down 39 percent on-year

 

 

Argentina's year-on-year soybean exports fell 39 percent in May as China bought less Argentine soy, the latest Agriculture Secretariat data show.

 

Argentina exported 1,396,893 tonnes of May soybeans, down from 2,287,354 tonnes a year ago.

 

China accounted for 67 percent of Argentina's soybean exports in May.

 

The Asian nation imported 963,074 tonnes that month, less than half the 1,926,299 tonnes it bought a year ago.

 

Thailand ranked second, importing 70,431 tonnes compared with 101,648 a year ago.

 

The United Arab Emirates came in third with 67,525 tonnes against 110,430 the previous year.

 

Argentina is the world's third largest soybean producer and exporter behind the US and Brazil.

 

The US Department of Agriculture has forecast Argentina's 2005/06 soybean production at a record 41.3 million tonnes, up from 39 million tonnes a year earlier.

 

The USDA sees 2005/06 soybean exports totalling 10.45 million tonnes.