Argentine farmers sold 25.1mi tons of 2020/21 soybeans

Jul, 21, 2021 Posted by Ruth Hollard

Week 202129

On July 20, the Ministry of Agriculture reported that after last week’s 660,400 tons of handling, Argentine producers sold a total of 25.1 million tons of soy from the 2020/21 season. Data were from a report updated July 14.

The pace of sales of one of the main crops in Argentina is behind the previous season, when sales of 27.2 million tons of the oilseed were registered on the same date, according to official information.

Argentina’s 2020/21 soybean crop ended last month, with a total output of 43.5 million tons, according to the Buenos Aires Cereals Exchange (BdeC). The 2019/20 season harvest yielded 49 million tons.

The exchange rate for agricultural exports is important for the balanced economy of Argentina, which has been in a state of stagflation for two years, a situation that was aggravated by the effects of the Covid-19 pandemic.

Regarding the 2021/22 soybeans, for which planting in Argentina begins in October, 1.2 million tons have already been sold, below the 1.3 million tons recorded on the same date of the cycle that has just ended, according to official data.


Source: Money Times

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