Argentine drought increases soybean meal exports from Paranaguá

Soybean meal shipments through the port of Paranaguá increased in September due to strong global demand and the drought in South America, which interrupted a route to transport the product via Argentina.

In a statement sent to Reuters on August 8, the port authority of Paranaguá said that exporters shipped 419,314 tons of soybean meal last month, an increase of 35% compared to August and almost 33% compared to the same month last year.

International prices and demand favored an increase in soybean meal exports from Brazil, according to ATEXP (the Paranaguá export corridor terminals association), cited in the statement.

In addition, the shipment of soybean meal in Brazil from Paraguay has been a factor.

“The neighboring country, which used to transport soybean meal by barge to Argentine ports… had to look for alternatives,” said the statement from the port authority of the port of Paranaguá. Due to the water crisis and the low water level in the Rio da Prata basin, these barges cannot navigate, so the product is being shipped by road and then shipped from Brazil, the statement added.

The forecast is that 150,000 tons of soybean meal will arrive from Paraguay to be exported from Paranaguá by the end of this year, informed the authority.

Source: Money Times

To read the full original article, visit the link: https://www.moneytimes.com.br/exportacao-de-farelo-dispara-com-seca-dificultando-saida-pela-argentina/

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