June 6, 2006
Argentina's April soy exports up 12 percent on-year
Argentina's year-on-year soybean exports rose 12 percent in April as the South American nation continued to export more of its 2005/06 soybean crop, the Agriculture Secretariat reported late Friday (Jun 2).
Argentina exported 1,974,666 tonnes of April soybeans, up from 1,756,563 tonnes a year ago.
China accounted for 75 percent of Argentina's soybean exports in April. The fast-growing Asian nation imported 1,479,229 tonnes, compared with 1,359,435 tonnes during the same month a year ago.
Thailand ranked second, importing 158,298 tonnes compared with 113,235 tonnes a year ago.
Malaysia came in third with 129,800 tonnes against 65,954 tonnes the previous year.
Argentina is the world's no. 3 soybean producer and exporter behind the US and Brazil.
The US Department of Agriculture has forecast Argentina's 2005/06 soybean production at a record 40.5 million tonnes, up from 39 million tonnes a year earlier.
The USDA sees 2005-06 soybean exports totalling 10.45 million tonnes.
Corn
Corn exports also fell in April.
Argentina exported 976,613 tonnes of corn in April, down 43 percent from 1,708,937 tonnes during the same period a year earlier.
Exports dropped in part because production declined to 14 million tonnes from 19.5 million tonnes the previous season, according to the USDA.
Some 41 countries imported Argentine corn in April, down from 44 in the same month in 2005.
Malaysia was the leading importer in April, buying 174,668 tonnes, up from 72,704 tonnes a year earlier.
South Africa ranked second, importing 107,972 tonnes, compared with no imports a year ago.
Chile was third as it imported 107,131 tonnes, up from just 87,443 tonnes in April 2004.
Indonesia came in a close fourth with 107,614 tonnes against 4,175 tonnes a year ago.
High production costs and bad weather led farmers to plant less corn in 2005/6.
Because of this--and solid domestic demand for corn--2005/06 exports fell to 10 million tonnes, according to analysts.
