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Corn and wheat are Argentina's most important crops in terms of volume, with a combined production of 1,946 million tons in the 2022/23 season, an increase of 65% over the last two decades. Soybean and soy by-product production are increasingly more important internationally and over the last twenty years, annual soybean production volume has more than doubled.
Argentina is the leading exporter of soybean oil and soybean meal. It holds an average of 40% of the world market in both, and it has more than doubled. In the last trading year 2022/23, which coincided with Argentina's historical drought, the country managed to secure first place in terms of export volume in soybean by-products. Soybean oil exports average 5.2 Mt per year. Argentina is by far the world's largest supplier, having triple the volume exported by the second largest, Brazil.
Argentina ranks second among the world's main corn exporters, averaging an annual export volume of 31 Mt between the 2017/18 and 2021/22 seasons. However, this situation could change as Brazil is consolidating its position in the export market and changing the ranking of the main countries.
January 5, 2024/ Rosario Stock Exchange/ Argentina.
www.bcr.com.ar
