March 31, 2004

Argentina's January Soybean Exports Up 111%
 
Argentina exported 65,780 metric tons of soybeans in January, or 110.5% more than the 31,243 tons exported during the same month a year ago, the latest Agriculture Secretariat data show.
 
Exports rose mainly because China, which accounted for most of January's exports, had not yet begun to buy Argentine soybeans by this time last year.
 
China was the No. 1 importer of soybeans in January, accounting for 41,400 tons compared with none the previous year.
 
Egypt was the second biggest buyer of soybeans in January, accounting for 24,200 tons, compared with none during the same month a year ago.
 
The U.K. ranked third with 180 tons against 68 tons a year earlier.
 
Secretariat officials estimate Argentina will produce 34.7 million tons of soybeans during the 2003-04 campaign, compared with 34.8 million in 2002- 03. The U.S. Department of Agriculture has put 2003-04 output at 36.5 million tons against 35.5 million the previous year.
 
Argentina is the world's No. 3 soybean producer and exporter behind Brazil and the United States.