The first ship loaded with soy from the United States arrives in Argentina after 20 years

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After 20 years, this Thursday will enter the port of Vicentín, province of Santa Fe, the first ship loaded with soybean produced in the United States.

This is a 29,310-ton cargo ship that left the Gulf of Mexico headed to this terminal located north of Rosario

In recent years, most of the imported soybeans came from Paraguay. We must go back to 1998 to find purchases in the United States. of this oilseed by large volumes.

It should be noted that Vicentin is the sixth largest Argentine exporter, with a 9% share of total activity. Last year, she shipped nearly 7 million tons of grain, flour and oil overseas.

However, the sharp decline in soybean production during the 2017/2018 season was due to adverse weather conditions. it lasted nearly 5 months and then, because of heavy rains, led to a very special situation: the industries that process the raw material to obtain oil and flour, were left without raw material .

last cycle, 17 million tons were lost. They have had to increase their oilseed imports because of the large unused capacity that exists in the industry, pending the start of the new season.

A few months ago, the United States Department of Agriculture (USDA) reported Argentina's purchase transactions for 490,000 tons, which will begin arriving this Thursday.

Sources in the area indicated that there were serious problems due to drought and, in this context, "it makes sense that the big grinding mills, which has to continue its continuous cycle, is taking precautions to maintain the flow of production throughout the year. "

The consultant Salvador Di Stéfano told iProfesional that the strong gap between local and foreign prices is what precisely makes it possible bring raw materials by boat from the North country to then re-export the processed products and that the company remains profitable.

Temporary Admission Plan
It should be noted that Argentina is the world's largest exporter of soy flour (a commodity that is used to feed animals and transform plant proteins into animals) and also oil.

Paraguay – common supplier of Argentina at the time scarcity – this year could not contribute more than 2 million tons in the rest of the year, a figure that would be far from offsetting losses of drought.

Therefore, faced with the need to have more beans, imports from the United States

This is possible because there is a diet called "temporary admission", which allows for Importing soybeans without paying duty, then re-exporting value-added goods.

The bets on the new campaign

The big traders expect to reduce their imports next year. It happens that the cycle that just started promises to be the record campaign, according to the pose of various entities.

To begin with, the purse of
Trade
of Rosario predicted that the total area planted in Argentina would reach a historical value of 37.2 million hectares, one million more than what could actually be achieved in the previous cycle.

In parallel, the study of Agritrend's board predicts a scenario with a record cereal production, of about 133.4 million tonnes

This would be the biggest brand of the History, which would surpbad the previous cycle by more than 34 million (35% increase). %), when the worst drought in 50 years was followed by a period of intense and widespread rains during the peak harvest season.

In addition, of this total, 54 million would correspond to soybeans, or about 19 million tons more. that the campaign which has just ended

Source: iProfesional.com