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Paraguay is now the worlds third largest exporter of soybeans

Gateway to South America on 08/05/2018 - 13:29 in All categories of countries are, Farms in Paraguay, Paraguay

Paraguay ranks as the third largest exporter of soybeans this season, with an export volume of 5.8 million tons, according to the latest supply and demand of the United States Department of Agriculture (USDA), productivasa.com.py as replicated by the local Paraguay website.

Paraguay country moves to the third position overtaking Argentina, which this year faced a historically severe drought, which has caused more than 15 million tonnes of soya losses.

Production checks in the productive regions of Argentina, by the American institution, estimated that country’s exports would only be 4.2 million tons due to the severity of the drought.

However, the international body projected the final harvest of Paraguay to be at least 9.2 million tons. The largest exporters are led by Brazil, followed by the United States, Paraguay then Argentina.The export volume of 500,000 tons Paraguay was reduced relative to the final projections of the previous season, in which 6.3 million tonnes were exported, according to statistics from the Paraguayan Chamber of Exporters and Traders Cereal and Oilseed ( Capeco).Argentina normally provides of export 8.5 million tons of soybeans, but this season will suffer a 50% drop.

Upon completion crops, n Argentina, Brazil, Uruguay, Bolivia and Paraguay, the Southern Cone of America will produce a total of 168 million tonnes, almost 30 million tonnes less than the production ceiling reached in this region in the 2016/2017 campaign.

Globally, the USDA projected soybean production at 334.81 million tonnes, below the 340.86 million expected in March of this year.

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