August 31, 2006

 

Argentina's soy exports down 28 percent on-year in June

 

 

Argentina's year-on-year soybean exports fell 27.8 percent in June as China bought less Argentine soy, the latest Agriculture Secretariat data show.

 

Argentina exported 879,429 tonnes of soybeans in June, down from 1,218,259 tonnes a year ago.

 

China accounted for 80 percent of Argentina's soybean exports in June.

 

The Asian nation imported 700,607 tonnes that month, 21 percent less than the 886,485 tonnes it bought a year ago.

 

Egypt ranked second, importing 63,359 tonnes compared with 75,657 a year ago.

 

The United Arab Emirates came in third with 45,118 tonnes against 50,002 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 a year earlier.

 

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