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Soybean crush in industrial plants and extruders reached an all-time record in December, with 3.65 million tons (Mt), consolidating a trend of high yields throughout the season. From April through December 2024, the volume of soybeans processed reached 34.75 Mt, equaling the record reached in the 2014/15 season, the highest level of processing recorded at this stage of the year.
One of the key factors that sustained this growth was the increase in soybean imports. During this period, Argentina imported 5.75 Mt, representing 17% of the total processed. This level of imports made the current season the third-highest share of foreign soybeans in crushing and the second-highest volume of historical imports.
The processing boom is not a coincidence but a direct response to the robust growth in soybean derivative exports, fueled by strong foreign demand. Historically, only during the 2006/07 season were more tons of soybean oil shipped than in the current season, and only in two other seasons were more tons of soybean meal exported.
The prominence of derivatives in soybean complex shipments is notable. In fact, this is the second campaign with the lowest proportion of unprocessed soybean exports, which explains the record processing levels.
Far from slowing down, the start of 2025 maintained the same intensity in a global context of high demand for oils. According to preliminary data from the shipping agency NABSA, 360,000 tons of soybean oil and 1.83 Mt of soybean meal were shipped in January, reaching four-year highs for this seasonal period.
February 7, 2025/ Rosario Stock Exchange/ Argentina.
www.bcr.com.ar
