October 23, 2007

 

Argentina's August soy, corn exports post gains

 

 

Argentina shipped 1,477,044 tonnes of soy in August, up 153 percent from the 584,401 exported in August 2006, according to the latest Agriculture Secretariat data.

 

China was the leading buyer of Argentine soy in June, purchasing 925,408 tonnes.

 

Argentina also shipped 570,854 tonnes of soyoil in August, down 11 percent from the 644,795 tonnes shipped the same month a year earlier.

 

China was the largest importer of Argentine soyoil in July, buying 185,320 tonnes. India followed with 167,163 tonnes, while Malaysia bought 30,175 tonnes.

 

Argentina exported 2,275,581 tonnes of soymeal and pellets in August, down from 2,314,122 tonnes shipped during the same month a year earlier. European countries were the leading buyers of soymeal and pellets.

 

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.

 

On the other hand, the country's corn exports in August were also up 47 percent, shipping 1,669,874 tonnes of the grain from the 1,139,489 tonnes exported in the same month last year, the secretariat also said.

 

Chile and Malaysia were the leading buyers of Argentine corn in August, importing 202,703 and 195,015 tonnes, respectively.

 

Argentina's wheat exports were down 52 percent in August, shipping only 373,104 tonnes as against the 783,558 tonnes exported during the same month a year earlier.

 

Brazil was by far the leading importer of Argentine wheat in June, purchasing 368,177 tonnes.