(Photo: Idigoras -first from left to right- expects that soybean meal exports start during the second half of the year)

Buenos Aires, 3rd. According to the grain broker Kimei, oilseed crushing industry has bought 13.85 MMT of soybean from the 2018/19 harvest, versus 11.77 MMT to the same date last year. Meanwhile, exporters have bought 3.03 MMT versus 4.81 MMT, i.e. 37% less.

As soybean production recovery this season to 55.9 MMT (37 MMT 2017/18) it is expected a larger crushing activity and a drop in the imports, that reached the record volume of 7MMT. Due to the lack of raw material, in the commercial season 2018/19 (April to March), the oilseed industry crushed 30.94 MMT of soybean versus 41.03 MMT in the 2017/18 season.

To May 2nd, the industry has solicitude to export 6.50 MMT of soybean meal and 1.54 MMT of soybean oil for the present season (April 2019 to March 2020), surpassing the volumes of the previous year.

Now, the industry is waiting for China’s decision to import soybean meal from the country. Chairman of the Oilseed Crushing Industry Chamber (CIARA), Gustavo Idígoras, took part in the mission that last week AgroIndustry secretary Miguel Etchevehere headed to the Asian country. After the talks, it is expected that a Chinese mission comes to Argentina during May or June to inspect the crushing plants. If everything goes well, first soybean meal exports could materialize in the second half of the year.

It is considered probable that Argentina is able to export 5 MMT of soybean meal per year to China, for US$1,200 million worth. Idigoras met representatives of forty poultry farms in China, the major users of the soybean meal, each one of them produces the Argentina total poultry production.