BUENOS AIRES: Argentine soy crushing activity rose 11 percent in February from the same month last year to 2.3 million tonnes, the Agriculture Ministry said in its latest crushing report.
Argentina is the world's top supplier of soyoil and soymeal and crushing activity has increased in recent years due to investment in plants, most of them near the port city of Rosario.
Crushers produced 435,824 tonnes of soyoil in the second month of the year, an 11 percent increase year-on-year, the report said. Soymeal output also rose 11 percent in February from a year earlier to 1.7 million tonnes.
In the first two months of 2012, Argentine processing plants crushed 4.8 million tonnes of soybeans.
Growers are currently harvesting 2011/12 soybeans and drought damage is lowering expectations for production.
Argentina's biggest grains exchange slashed its forecast for 2011/12 soy production on Tuesday to 43.1 million tonnes from 44.5 million tonnes previously.
The harvest totaled 48.9 million tonnes in the previous crop year, according to government data.
Comments
Comments are closed for this article.