Argentina's shipment for soy almost nil in December; focus on soymeal

Argentine soy exports dwindled to a drop in December as old crop inventories dwindled and almost all available supplies were processed into meal and oil.

 

Drought battered the 2008-09 crop, cutting production by about a third from the crop's potential. According to the Buenos Aires Cereals Exchange, soy output from the 2008-09 season plunged to 32 million tonnes from 46 million tonnes a year earlier.

 

Argentina's December soy exports totalled just 898 tonnes, compared to the 341,794 tonnes shipped a year earlier, according to the latest data from the agricultural health and sanitation service, Senasa.

 

Soy exports during 2009 totalled 4,400,200 tonnes, compared with 12,011,792 tonnes a year earlier. Soy exports in 2009 were valued at US$1.67 billion, compared with US$4.5 billion a year earlier. China is the main market for Argentine soy exports, buying 3.2 million tonnes last year.

 

Soymeal exports in December totalled 1,018,154 tonnes, up from 955,295 tonnes a year earlier. December soymeal exports were valued at $394 million, up from $281 million a year earlier.

 

Soymeal exports during 2009 totalled 12,974,141 tonnes, up from 12,774,336 tonnes a year earlier.

 

The Netherlands was the top destination for Argentine soymeal last year followed by Indonesia, Italy and Vietnam. 

 

December soy pellet and cake exports totalled 157,917 tonnes, compared with 147,399 tonnes a year earlier.

 

Soy pellet and cake exports 2009 totalled 1,977,119 tonnes, down from 2,955,148 tonnes a year earlier.

 

Iran was the top destination for Argentine soy pellet and cake exports, followed by Malaysia and Ecuador.