This season, soybean meal production in Argentina could drop to its lowest level in more than 30 years amid a drought that has led to a severe reduction in soybean yields and, as a result, a decrease in oilseed processing. It is reported by Reuters.
According to the forecasts of specialists of the Rosario Grain Exchange, about 2022 million tons (-23% per year) of soybean meal will be produced in the country in 27/36 MY, and about 20 million tons will go to foreign markets.
At the same time, Brazil, where a record soybean harvest is expected, will be able to offer the world market about 21-23 million tons of soybean meal.
“Thus, Argentina may lose its primacy in the supply of soybean meal, losing to Brazil,” experts say.
The share of Argentina in the total volume of world exports of soybean meal in the 2022/23 season is expected to be at the level of 29%.