Argentina Reduced Production of Soybean Oil and Meal in January

In January, oil extraction plants in Argentina reduced the volume of soybean processing. According to experts of the Agriculture Secretariat, last month the figures fell by almost 30% to 1.9 million tons, which is lower than the level of December 2022 by 0.7 million tons.

According to experts, the production of soybean oil and meal at the beginning of the year also decreased – to 367.3 thousand tons and 1.3 million tons, respectively.

In 2022, the volume of soybean processing in Argentina amounted to 38.4 million tons against 42.4 million tons in 2021.

Now there are no prospects for a significant increase in the production of finished products in Argentina. The weather situation in the country remains extremely unfavorable, and bean crops may be seriously affected by the worst drought in the last 60 years.

Recall that Argentina is the world’s largest exporter of soybean oil and meal, as well as one of the key suppliers of soybeans to foreign markets.

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