Uruguayan exports soared 23.8% in value during 2010 compared to 2009 which represent a new record according to the country’s Union of Exporters. Sales totaled 6.76 billion US dollars while imports to the month of October (the latest Central Bank officially available data) reached 6.7 billion USD, which represent a 18.6% increase in the first ten months of last year.
Soybean growers in Brazil, the world’s largest producer after the U.S., may harvest more of the oilseeds next year than the government estimated earlier this month, Agriculture Minister Wagner Rossi said on Wednesday.
Oil World has for a second time in two weeks reduced Argentina soybean crop hopes warning that, thanks to dry weather, it could be on course for a fall of more than 20%.
Uruguay’s exports jumped 23.3% during the first eleven months of 2010, anticipating a new value record for the year. Exports totalled 6.1 billion US dollars between January-November compared to 4.95 billion in the same period a year earlier and are higher than the twelve month previous record of 6.1 billion in 2008, according to Uruguay’s Exporters’ Union.
Paraguay summer and winter crops in 2010 totalled 12.688.908 tons establishing a new record according to agronomist Luis Cubilla from the Agriculture Biotechnology Institute. The last best harvest was in 2008 with 10.5 million tons.
Soybeans futures settled at their highest in more than two years on Tuesday after the Agriculture Department, USDA, slashed its forecast for the United States soybean production to 3.375 billion bushels from 3.408 billion bushels the previous month.
Argentina’s Agriculture and Livestock minister Julian Domínguez and representatives from the cereals and oilseed markets coincided that Argentina will have a record crop this 2010/11 season and considerable export surplus of wheat and corn: 5.5 million and 18.5 million tons respectively.
China will open its market to Argentine beef consolidating the end of a conflict that started earlier this year when Beijing decided to suspend “on sanitary reasons” the import of soy-oil from Argentina, a ban that was only lifted last month.
China has bought at least 70,000 tons of Argentine soybean oil after Beijing decided to unlock the imports ban that had resulted in a mounting-tension conflict. The move came after China agreed to allow all products coming from Argentina to enter its ports and was reported by Oil World magazine.
China’s two largest state-owned grains and oilseeds trading companies to import soybean oil from Argentina, easing restrictions imposed in April. Beijing-based Cofco Ltd., China’s biggest grain trader, and China Grain Reserves Corp. have been cleared by the commerce ministry to import soybean oil from Argentina.