Argentine producers have sold 31.5m tons of soybeans from 2020/21 harvest

Argentine producers sold 31.5 million tonnes of soy from the 2020/21 crop, according to a government report dated October 13th using updated data until 6 October.

The pace of sales fell short compared to the previous season. By the same date last year, producers had sold 33.2 million tons of the oilseed, according to official data.

The 2020/21 soy harvest in Argentina ended June at 43.1 million tons, according to the Buenos Aires Grain Exchange, which estimated the previous 2019/20 harvest at 49 million tons

Importance to the Argentine economy

Foreign exchange from agricultural exports is essential for Argentina’s economy, which is coming out of a long recession that was exacerbated last year by the Covid-19 pandemic.

The stock exchange forecasts the next harvest in 2021/22 to reach 44 million tons.

Source: Money Times

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