June 1, 2012

Argentina sells majority of soymeal to Europe

Out of Argentina 28 million tonnes of soymeal exports, almost 40% is shipped to the European Union.

Argentina's shipments of soymeal to Europe reached 10.5 million tonnes, almost 40% of total exports of the product reaching 28 million tonnes.

Out of the total exports to Europe, the Netherlands, Italy and Spain import a total of 7.3 tonnes, 70% of soymeal exports to the EU.

The Netherlands is the largest importer with a volume of 3.3 tonnes, followed by Italy with 2.3 tonnes and Spain with 1.8 tonnes.

Since 1996 the world demand for soymeal via trade grew 26.7 tonnes, of which Argentina has increased its exports by 21.6 million, meaning that the country has captured 81% of global demand growth.

This is because the oil industry in Argentina is the most competitive in soybean processing and subsequent export of soymeal and oil.