More than 86 percent of soybean crop harvesting completed in Argentina

07-Jun-2024 12:40 PM

Buenos Aires. In Argentina, the world's third largest producer and exporter after the US and Brazil, soybean harvesting has been completed in more than 86 percent of the area. Now only about 25 percent of the crop in its northern part and about 30 percent in the southern region is yet to be harvested. Due to favorable weather conditions, farmers are not facing any special difficulty in harvesting the crop.

At the national level, this time the average yield rate of soybean was recorded at 3080 kg per hectare (45.8 bushels per acre).

The average yield rate in northern Argentina was the lowest at 1770 kg per hectare while the highest was 3860 kg per hectare in the northern core region.

The Buenos Aires Grain Exchange has estimated the production of 505 lakh tonnes of soybean in Argentina during the 2023-24 season.

Due to improvement in domestic market prices, producers showed good interest in selling soybean in Argentina during the month of May, but still this sale was the slowest in the month of May in the last decade.

Till May 22 this year, 36.7 percent of the total estimated production of soybean for the 2023-24 season was sold in Argentina. Usually there is a huge inflow of soybean there during April-May.

Now, of the crop left for harvesting, 30 percent has been rated as weak or very bad, 48 percent as normal and 22 percent as encouraging.

It is worth noting that Argentina is the largest exporter of soybean oil and soymeal in the world. Most of the soybean oil in India is imported from Argentina.