Argentine producers sell 20 million tons of soy in 2020/21 season

RIO DE JANEIRO, BRAZIL – Argentina’s producers have sold 20 million tons of soybeans in the 2020/21 season, the Agriculture Ministry said in a report Tuesday, including data updated through May 26.

With farmers wrapping up their harvests for this crop, the pace of soy sales in Argentina lags behind last season, when sales of 23.8 million tons were posted through this date, according to official data.

The soy crop totals 43.5 million tons, according to the Buenos Aires Grain Exchange, down from 49 million tons estimated by the exchange during the 2019/20 season.

Soy sales for 2021/22 stand at 616,100 tons, almost double the volume recorded on the same date last year, the Ministry said.

Argentina needs export dollars to boost its economy impacted by recession and inflation with the country experiencing its second wave of coronavirus infections.

Regarding 2020/21 corn, which is also being harvested, the government said sales totaled 28.6 million tons, 3.2 million tons more than the same time last year.