October 21, 2004

 

Argentina's August Soyoil Exports Up 59% Vs Year Ago

 

Argentina's soybean-product exports continued to rise in August, led higher by a huge increase in sales to China, the latest Agriculture Secretariat data show.

 

Argentina exported 403,710 metric tons of soyoil in August, or about 59% more than the 253,476 exported during the same month in 2003.

 

Exports rose as sales to China and India rocketed higher. China imported 111,218 tons in August, up almost 454% from 20,082 tons a year earlier.

 

India ranked second in August, buying 114,000 tons compared with just 49,506 tons a year earlier.

 

Morocco was third with 24,700 tons against 15,700 the previous year.

 

SOYMEAL, PELLETS

 

Meanwhile, Argentina exported 1,795,874 tons of soymeal and pellets in August. This is 5.4% less than the 1,898,727 tons shipped during the same month in 2003.

 

The Secretariat does not distinguish between meal and pellets in its monthly report on exports.

 

Italy was the top destination for soymeal and pellets in August, buying 319,219 tons compared with 250,273 tons the previous year.

 

The Netherlands came in second, accounting for 255,672 tons, compared with 201,229 tons a year earlier.

 

Spain came in third with 250,620 tons against 319,394 tons.

 

Argentina is the world's No. 1 soyoil and soymeal exporter.