Buenos Aires, April 4th. Since 2014 Aceitera General Deheza (AGD) and Vicentin, two families-owned and operated companies, lead the soybean meal exports from Argentina. Both companies’ share oscillated between 29 to 30%, surpassing global companies like Cargill, LDC Commodities, Bunge or Cofco, the most active in the soybean crushing business.
Prior to that year, AGD led the exports, but Vicentin held only 8% of the business, behind Cargill, Molinos Rio de la Plata, Bunge, and Dreyfus.
But last year, over a total of 24.71 million metric tons exported, AGD and Vicentin increased its share to 36% or 8.84 MMT, with AGD climbing to 19% of share and Vicentin to 17 percent.
In fact, last year was a bad one because of the severe drought that affected soybean production that cut the raw material supplying to the crushing industry. Between 2015 and 2017 soybean meal exports rounded 30 MMT and both companies held 30% of share. In 2013, with 24 MMT exports, AGD and Vicentin retained 24% of share.
Last week, Vicentin announced the successful debt emission of 50 million dollars that permitted the company to roll its passives. Sources told to www.eFarmNewsAr.com that in an uncertainty context, with interest rates in local currency above 60%, to roll the debt is a logical decision to endure the economic scenario, but they also said that the answer of the market to the debt emission resulted in a strong back to the company and its management.