Soybean meal and oil exports reopen

Once confirmed the increase from 31% to 33% of the withholdings of flour and soybean oil and the creation of the Wheat Stabilization Fund, the Ministry of Agriculture rehabilitated on Monday the possibility of scoring exports of soybean meal and oil. The Register of Exports of Sales abroad (DJVE) in both areas had been closed last Sunday. The measure went into effect at 00hs today. In this context, the Undersecretariat of Agricultural Markets led by Javier Preciado Patiño officially announced the reopening of exports of the aforementioned by-products. “Having received the corresponding instructions from the Minister of Agriculture, Livestock and Fisheries; this Undersecretariat of Agricultural Markets informs the Export Sector that from 00:00 hs. on March 21, 2022, the registration of the Affidavits of Sale Abroad, corresponding to soybean meal and oil, is opened,” says the statement published on the institutional website of the portfolio led by Julián Domínguez.

Argentina is the world’s leading exporter of soybean oil and meal. 30 percent of this year’s exports correspond to the soybean complex, which in 2021 had contributed 9,000 million dollars to the treasury. On Saturday, Julián Domínguez also confirmed that in order to “capture the international prices of this historical conjuncture”, it was decided “to open the export records of the 22-23 harvest for a total of 8 million tons of wheat, which are added to the 2 million tons already authorized”. “With this decision we intend to achieve the objective of giving predictability to producers for the next wheat planting and achieve a new production record,” said the head of the agricultural portfolio.
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Original source in Spanish