Argentina’s soybean oil exports exceed last year’s figures

Argentine soybean oil exports in July reached their highest level in the last 8 months and amounted to 0.66 million tons, almost equal to the level in the same month last year (in June – 589 thousand tons). From the beginning of the year to July, the total volume of soybean oil exports from Argentina reached 4 million tons against 3.8 million tons in the same period of 2024, according to analysts from the Oil World portal (Germany).

The main buyers of Argentine products were India and Nepal, which imported a total of 2.1 million tons, or 52% of the total export figure (against 1.6 million tons and 43%, respectively, a year earlier). At the same time, the share of deliveries to China, according to analysts, has sharply decreased.

Analysts also draw attention to the return of the spread in relation to palm oil. Argentine soybean oil prices rose to their highest level since November 2024 in July, while palm olein prices have fallen 8% over the past four months, turning a $108 soybean oil discount in March into a $69 premium last month.

Earlier, it became known that Argentina permanently reduced export duties on soybeans, soy by-products, sunflower and other agricultural crops.

Tags: soybean oil, Argentina, export