July 11, 2008

   

Argentina's soy and soyoil shipments up, soymeal shipments down

Argentina's soy shipments in May totaled 1.68 million tonnes, up 26.7 percent from a year earlier, according to the animal and food-inspection agency, Senasa.

 

Soy shipments during the first five months of the year were up 18.5 percent totaling 3.59 million tonnes, up from 3.03 million tonnes during the same period a year ago.

 

The figures show a significant gain but are not as high as those in a report issued by the government last month used in negotiations with farmers.

 

The figures were cited by government officials to back up claims that striking farmers were targeting domestic supplies, not exports, with their blockades.

 

Soymeal exports in May totaled 1.28 million tonnes, a 14-percent drop from 1.49 million tonnes a year earlier.

 

Soymeal exports during the first five months of the year dropped 5.2 percent to reach 4.74 million tonnes, down from 5.00 million tonnes a year earlier.

 

May soy pellet and cake exports was down 1.5 percent to total 259,801 tonnes, compared with 255,856 tonnes in May 2007.

 

Soy pellet and cake exports during the first five months of the year dropped 2.5 percent to 995,752 tonnes.

 

Soyoil exports however, saw a 25-percent increase in May to total 307,033 tonnes, up from 245,037 tonnes a year earlier.

 

Soyoil exports during the first five months of the year was up 13.2 percent, reaching 1.23 million tonnes.

 

Argentina is the world's No. 3 soy producer and exporter behind the US and Brazil and is the leading exporter of soyoil and meal.