Argentina’s soybean exports once again played a leading role in international agricultural trade. According to a report by the Rosario Stock Exchange (BCR), as of November 11, soybean shipments totaled 11.25 million tons. Highest record in the past 10 years, second highest record in this century. Only the 2014/15 campaign managed to exceed this extraordinary amount.
The scale of November’s performance is also remarkable. Based on preliminary data from maritime agency NABSA, BCR estimates that shipments for the month will exceed 2 million tonnes, reaching a historic record for the period. figure 5 times the average of the past 10 yearsreflecting a dynamism rarely seen at this point in the calendar. In this scenario, China establishes itself as a dominant destination: China absorbs 94% of shipmentsreaffirmed the centrality of oilseeds in global demand.
Two important factors explain the significant acceleration in exports. Since the offer, Temporary reduction and temporary elimination of export duties (DEX) in September These served as a direct stimulus for producers to accelerate soybean sales and for companies to declare more DJVE. This situation provided the export complex with extraordinary physical availability and exploited a window of competitiveness.
but According to the BCR report, the decisive impulse came from outside.. In a change to its supply strategy, China has redirected some of its purchases from the United States to Argentina and Brazil, allowing it to test volumes available in the region. This change further increased the need for immediate shipments from Asian giants and became a decisive factor in maintaining Argentina’s export rate and raising it to levels not observed for a decade.
With these results, soybeans will once again become a major driver of foreign exchange earnings, a sign of relief for foreign trade. The November results anticipate a year-end marked by strong exports of the oilseed complex.
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