La Nación / Soybean exports down 50% in May

From the Paraguay Chamber of Cereals and Oilseed Exporters and Marketers (Capeco) Paraguay reports that due to the production lag registered in the 2021/2022 harvest, soybean seed exports decreased by 50.5% through May compared to last year. Extreme drought is the main cause of this decline in soybean production.

In this regard, Sonia Tomassone, Capeco Foreign Trade adviser, said that the total quantity exported through May represented half of what was shipped through the fifth month of 2021. Although there was little positive variation in pellet volumes. soybean exports, suggesting that the decline in shipments will increase month-on-month as a result of the decline in grain production.

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Soybean grain exports fell 50.5% through May compared to a year ago. Photo: File.

However, the unions pointed out that the international soy quote prices were increasing, but this could not be exploited due to low product availability and discounts made in the case of contract renegotiation. “However, rising international prices for oil and pellets have offset the decline in exports of these goods,” Tomassone said.

Due to low exports, foreign exchange earnings fell 37.6% compared to the same period last year with shipments of US$ 1,288,463,553. However, the amount as of May 2022 is US$803,184,870. Meanwhile, Paraguay exported 1,638,763 tons of oilseed in the fifth month of this year, while up to last December, 3,309,615 tons were marketed abroad. The main export destinations include Argentina with a 70% share, Brazil with 20% and shipments to Russia representing 9%.

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Roderick Gilbert

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