Argentina expects oilseed processing to decline

In Argentina at the sites of local oil-extraction enterprises at the end of last year may be processed about 30.5 million tons of oilseeds – it is 27% below the level of 2022. This is reported by Reuters with reference to the monitoring data of the Grain Exchange Rosario.

Traditionally, according to experts, the lion’s share of processing will fall on soybeans – 27.1 million tons (-24% to 2022). At the same time, the volume of sunseed processing in Argentina is expected to grow in annual terms – by 3% to 3.4 million tons.

In addition, the Exchange estimates that the number of oil refiners in the country will increase this year due to a poor harvest and will be idled amid a shortage of raw materials.

“The idle oilseed processing capacity will reach 54% compared to 38% last year, which will be the lowest level in the last 19 years,” Rosario noted.

Tags: sunseed, Argentina, soybean