The industrialization of soybeans fell by 12% in 2018, but that of corn was record – 11/02/2019

The petroleum industry closed the year 2018 with a Cumulative crushing of 36.7 million tonnes of soybeans, a 12% less than in 2017 and 8% below the industry average over the last five years. The data comes from the last weekly report of the Rosario Stock Exchange.

The entity states that the decline occurred especially from the month of April, with the entry into the plants of the new crop, and listed three main causes of this fall of the l & # 39; 39; industrialization. "First and foremost, a climatic phenomenon: the severe drought that has significantly reduced the 2017/18 soybean crop reduces, therefore, soybeans available on the local market. The weakest commodity stocks began to be felt in the industry from April, when they began to arrive at the terminals with the first lots of oilseeds, "explains the Rosario bag.

Secondly, he mentions a change in the international scenario: the Tariff dispute opened in June between China (the largest world importer of soybeans) and the United States. (the world's largest oilseed producer) has forced the Asian giant to source in alternative markets, boosting the export of Argentine soybeans to China.

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Third, a modification of the internal rules of the game: "In August, the reduction of export duties on the planned soy complex until the end of 2019 had been disabled, although the gap between the aliquots products have been maintained, and already September the the modification of the export duties and refunds implies a regime in which the said differences disappear and discourages the export of industrialized products soya, such as oil and flour, compared to the foreign sale of unprocessed port, "she observes, while claiming that despite the annual decline in milling, soybean meal exports have not lost its relative importance in the Argentine trade balance. "In 2018, flour has become again the star product of export in our country, reaching a 15% stake in the total value of exports. "According to the badysis of the Stock Exchange, although exported goods fell by 14% over the previous year, their value has increased slightly by one year on the year. Another $ 117 million (1%).

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The corn mill, on the other hand, continued to grow and reached a record of 6.14 million tonnes in 2018 according to data from the secretary of agribusiness. "If you also take into account what has been transformed by the ethanol industry, this year's corn mills exceed 7.6 million tonnes, reflecting an interannual increase of 10%, "says the report of the Rosario Stock Exchange, as well as details. The best performance results from a 12% increase in the balancing sector, which, although not the highest percentage, brings the maximum increase in volume (near 427,000 additional tons). "The ethanol industry, second in terms of tonnage of grain absorbed, increased by 14% adding more than 190,000 tonnes to maize consumption. "