October 20, 2004

 

 

Argentina's Agriculture Soy Crush Down 5.2% From Year Ago

 

Argentina's soybean crush totaled 2.134 million metric tons in August, the latest Agriculture Secretariat data show.

 

This puts the August crush down 5.2% from the same month a year earlier, when it totaled 2.251 million tons.

 

The crush is down largely because an extended drought reduced the 2003-04 soybean harvest to 32 million tons, leaving the industry with fewer beans to process. In 2002-03 Argentina produced 35 million tons of soy.

 

Analysts expect the crush to rise next year as 2004-05 production expands, perhaps to as much as 39 million tons, according to the US Department of Agriculture.

 

Moreover, with new investments in crush capacity, the oilseed industry is expected to boost its daily output to around 160,000 tons by 2007. Daily capacity currently stands at roughly 100,000 tons, according to the Rosario Cereals Exchange.

 

By the end of 2006, Argentina could be crushing more than 40 million tons of oilseed annually, according to recent estimates from the exchange's department of economic studies.

 

Argentina produced 401,339 tons of soyoil in August, down 4.8% from the 421,752 tons crushed a year ago.

 

Soy pellet output totaled 1,665,769 tons, or 6.4% less than the 1,780,495 tons mashed a year earlier.

 

SUNSEED CRUSH

 

Meanwhile, Argentina crushed 242,626 tons of sunseed in August, up 9.2% from 222,147 tons the previous year.

 

Sunoil production totaled 103,021 tons in August, up 8.4% from 95,060 tons during the same period a year ago.

 

Finally, sunseed pellet output in August was 107,222 tons, or 17.5% more than the 91,217 tons produced a year earlier.

 

The following tables show Argentina's main oilseed crush data as measured in metric tons:

Product        2004         2003
 
Soybeans
July         2,256,232   2,405,385
August      2,134,746   2,251,363
 
Soyoil
July         421,123     449,069
August      401,339     421,752
 
Soy Pellets
July        1,763,030   1,899,230
August     1,665,769   1,780,495
 
Sunseed
July         248,730     236,055
August      242,626     222,147
 
Sunoil
July         103,942     100,864
August      103,021      95,060
 
Sunseed Pellets
July         105,707      100,773
August      107,222       91,217