Paraguay’s soybean exports in 2021 will be 6.33 million tons, a year-on-year decrease of 4.4%
Foreign media, January 20: According to data released by the Central Bank of Paraguay, Paraguay’s soybean exports in 2021 will be 6.33 million tons, a decrease of 4.4% from 6.62 million tons in 2020.
Argentina is the top importer of Paraguay soybeans, with imports reaching 4.58 million tons, 8.9% less than in 2020, accounting for 72.4% of Paraguay’s total soybean exports.
In 2021, Paraguay’s soybean exports to Brazil will be 759,600 tons, a year-on-year decrease of 1.1%, which accounts for 12% of Paraguay’s total soybean exports.
Paraguay’s soybean exports in 2021 are valued at US$2.97 billion, up 38.6% year-on-year, due to higher international prices.
In 2021, Paraguay’s soybean oil exports will be 561,800 tons, a year-on-year decrease of 11%; soybean meal exports will be 1.88 million tons, a year-on-year decrease of 9.5%.
The U.S. Department of Agriculture expects Paraguay to produce 8.5 million tons of soybeans in 2021/22 and export 5.25 million tons; soybean meal exports will reach 1.85 million tons and soybean oil exports will reach 535,000 tons.
The domestic soybean crush in Paraguay may reach 3.1 million tons.
Lack of rain affects much of Paraguay and could lead to reduced soybean production in Paraguay. Some analysts expect soybean production to fall from 10 million tonnes to around 7 million tonnes.
Paraguay’s Agriculture Minister Moises Bertoni also said soybean production could fall to 6 million tonnes, well below the 10 million initially expected.
Central bank data also showed that Paraguay’s corn exports in 2021 will be 1.9 million tons, down 9.7% from 2.1 million tons in 2020. Wheat exports were 337,500 tons, up 19.3% from 282,900 tons in 2020.