December 20, 2004

 

 

Argentina's October Soyoil Exports Down 10% Vs Year Ago

 

Argentina's year-on-year soybean oil exports fell again in October, the latest Agriculture Secretariat data show.

 

Argentina exported 417,452 metric tons of soyoil in October, or 10% less than the 464,599 exported during the same month in 2003.

 

Exports fell even as top clients bought more in October. A higher number of less influential destinies, such as South Africa, bought less that month.

 

India was the top buyer in October, importing 92,100 tons compared with 31,039 tons a year earlier.

 

China came in second with 89,050 tons against 27,555 the previous year.

 

Bangladesh ranked third, buying 48,488 tons, compared with 15,200 a year earlier.

 

SOYMEAL, PELLETS

 

Argentina exported 1,464,410 tons of soymeal and pellets in October, down 23.9% from 1,925,015 tons shipped during the same month last year.

 

The Secretariat does not distinguish between meal and pellets in its

monthly report.

 

Spain was the top destination for soymeal and pellets in October, buying 248,911 tons compared with 283,124 tons the previous year.

 

The Netherlands came in second, accounting for 228,517 tons, up from 226,376 tons a year earlier.

 

Italy came in third with 153,801 tons, up from 143,142 tons a year ago.

 

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