October 16, 2023

Brazil to lead over Argentina as top global soybean meal exporter

Argentina will lose its place as the world's leading exporter of soybean meal and will be overtaken by Brazil for the first time since 1997/98, according to the Rosario Stock Exchange.

Argentina stands out as the world's fourth largest producer of soybean meal, behind China, the United States and Brazil while the European Union ranks fifth.

An analysis of Argentina's share in global production shows that while Argentina was responsible for 17% of production in the 2010/11 season, this percentage decreased to 13% for the 2020/21 season and to 10% for the current season. While this shows that global production has grown at a faster pace than Argentina's, it is also worth noting the sharp reduction in the country's production for the current season as a result of the drought.

While production in Argentina totaled 30.3 million tonnes in the 2021/22 season, this volume decreased by 22% to just 23.6 million tonnes during the current season, the lowest volume produced since 2004/05.

With respect to exports, despite ranking fourth in global soybean meal production, Argentina has been the leading global exporter of this by-product since the 1990s.

However, the impact of the aforementioned drought led to a drop in Argentina's soybean meal production for the current season, while Brazil recorded a record soybean crop volume and, subsequently, a record soybean meal harvest.

- Rosario Stock Exchange (Argentina)