November 5, 2007

Argentina Jan-Aug soy exports rise 8.6 percent on year

Soy exports from Argentina has increased 8.6 percent during the first eight months of the year from the same period in 2006, along with sales of soyoil and soymeal, the Agriculture Secretariat said in a monthly report.

The world's leading soyoil and soymeal exporter and the third biggest exporter of soy has shipped 7.07 million tonnes of the oilseed from January to August, up from 6.51 million tonnes a year earlier.

The main buyer of uncrushed Argentine soy in the first eight months of the year was China, which purchased 5.01 million tonnes.

Exports of soyoil rose slightly to 4.18 million tonnes between January and August, from 4.04 million tonnes a year ago.

The top importer of Argentine soyoil was also China, which bought 1.31 million tonnes.

Meanwhile, sales of soymeal pellets rose to 17.44 million tonnes from 17.12 million tonnes in the first eight months of 2006.

The largest buyer of soymeal was Spain, which imported 2.70 million tonnes.

Argentina's 2006/07 soy crop was a record 47.6 million tonnes, according to government estimates.