September 8, 2008

 

Argentina July corn, soy exports up; wheat sharply down

   

 

Argentina exported 3,434,045 tonnes of corn in July, up 126 percent from 1,519,891 tonnes shipped in July 2007, according to the latest data from the animal and food-inspection agency, Senasa.

 

In July, exporters scrambled to make up for stalled exports due to a series of farm strikes from May through June.

 

Corn exports during the first seven months of the year reached 11,326,230 tonnes, down from 9,601,987 during the same period a year ago.

 

New corn export sales are virtually shut down, as exporters have already reached the government's quota for shipments from the 2007-08 crop.

 

Last week, the government warned the amount of corn available for export is running out.

 

The agricultural trade office, or ONCCA, authorized the export of 331,173 tonnes more corn from the 2007-08 crop, the surplus remaining minus the domestic need calculated by the government.

 

However, further exports may be allowed if confirmed stocks increase due to additional declarations made by those holding corn, ONCCA said.

 

The government has already approved the export of 13.7 million tonnes of corn this year.

 

Argentina exported 84,814 tonnes of wheat in July, down sharply from the 555,049 tonnes shipped during July 2007, according to Senasa.

 

Wheat shipments during the first seven months of the year totalled 5,760,480 tonnes, down from 7,070,536 tonnes a year earlier.

 

Last month, the government approved an additional 1.4 million tonnes of wheat for export. The amount likely represents the last wheat to be cleared for export from the 2007-08 crop.

 

So far this year, the national trade office, or ONCCA, has authorized 9.5 million tonnes of wheat and wheat flour exports.

 

Argentina's soy shipments in July totalled 2.4 million tonnes, up 152 percent from 952,836 tonnes during the same month a year earlier.

 

June soy exports were valued at US$884 million.

 

Soy shipments during the first seven months of the year totalled 7.1 million tonnes, up from 5.3 million tonnes during the same period a year ago. The value of exports during the period reached US$2.5 billion.

 

China was, by far, the largest destination for soy exports, buying 5.4 million tonnes from January through July.

 

Soymeal exports in July totalled 1.2 million tonnes, down from 1.3 million tonnes a year earlier.

 

Soymeal exports during the first seven months of the year reached 6.8 million tonnes, down from 7.5 million a year earlier. Shipments during the period were valued at US$2 billion.

 

Spain was the leading destination for Argentine soymeal during the first seven months of the year, followed by the Philippines, the Netherlands, Italy, South Africa and Indonesia.

 

July soy pellet and cake exports totalled 180,458 tonnes, compared with 227,188 tonnes in July 2007. Soy pellet and cake exports during the first seven months of the year totalled 1.4 million tonnes, down from 1.5 million tonnes a year ago.

 

Soyoil exports in July totalled 239,884 tonnes, down from 396,357 tonnes a year earlier.

 

Soyoil exports during the first seven months of the year reached 1.7 million tonnes, down from 1.8 million a year earlier, according to Senasa. Soyoil shipments during the period were valued at US$1.9 billion.

 

China was the main market for Argentine soyoil this year, followed by Egypt.

 

Argentina is the world's No. 3 soy producer and exporter behind the US and Brazil and is the leading exporter of soyoil and meal.

 

Argentina also shipped 83,129 tonnes of sunseed oil in July, up from 24,721 tonnes shipped in July 2007.

 

Sunseed oil shipments during the first seven months of the year reached 483,584 tonnes, up from 237,721 tonnes a year earlier. Shipments during the period were valued at US$656 million.