Argentine 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 had accumulated 11.25 million tons, The highest record in the last ten years and the second highest record so far this century. Only the 2014/2015 season managed to exceed these exceptional volumes.
November’s performance also stands out because of its size. With preliminary data from the maritime agency NABSA, BCR estimates that shipments for this month will exceed 2 million tons, a historic record for this period. This number Five times the average of the past ten yearsreflecting a dynamism rarely seen at this point in the calendar. In this scenario, China is strengthening its position as an exclusive destination: it accommodates 94% of shipmentswhich reaffirms its centrality in the global demand for oilseeds.
The strong acceleration in exports is explained by two main factors. Since the show, Temporary reductions in export duties (DEX) and their temporary cancellation in September It served as a direct incentive to accelerate the sale of soybeans by producers and for companies to announce higher volume of DJVE. This situation provided extraordinary material availability for export complexes that benefited from the window of competitiveness.
but The decisive motive, according to the BCR report, came from the external front. Amid changes in its supply strategies, China redirected part of its purchases from the United States to Argentina and Brazil, allowing validation of the quantities available in the region. This shift, combined with the immediate need for shipments from the Asian giant, has been crucial in maintaining the rate of Argentine exports and taking it to levels not seen in a decade.
With these results, soybeans have once again become a major driver of foreign exchange earnings and a sign of relief in foreign trade. November’s performance also anticipates an end to the year characterized by stable exports of the oilseed complex.
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