The oilseed industry chamber of commerce (CIARA), an Argentine crushing lobby group, says soyabeans could be squeezed 33m tonnes this year, down from 45m tonnes last year. Soybean exports could hit a record high.
CIARA said the decline in soybean crushing was due to increased soybean exports. Argentine soyabean exports could reach 16m tonnes this year, 98 per cent of which will be shipped to China. The decline in crushing is also partly due to the government eliminating the tax gap between soybean exports and those of manufactured products (meal and oil).
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