Argentine market accounted for 76% of Paraguayan soybean exports

A total of 76% of soybean exports registered during the first quarter of this year were sent to Argentina, which has become the main market for Paraguay’s production, according to the Foreign Trade Report of the Central Bank of Paraguay (BCP).

The report also highlighted the fact that during the first three months of this year, the volume of exported oilseed totaled 1,487.7 tons, of which the majority, 1,136.6 tons, went to the Argentine market.

The document noted that exports to the neighboring country were worth US$473.3 million, an increase of 0.3% over the same period last year.

Brazil is the second leading country in terms of export volume, totaling 153.3 tons, an increase in shipping of 37.1%. The foreign exchange generated from this market totaled US$53.7 million.

General exports

Total exports in March this year reached a value of US$3,098.5 million, a rise of 3.4% compared to the US$2,995.7 million recorded during the same period last year.

Registered exports represented 74.1% of total, reaching US$2,295.2 million, 19% higher than the accumulated value in March of the previous year. Re-exports, on the other hand, accounted for 9.4% of total, with a value of US$602.6 million in March 2021, a 22.3% decrease. The remaining 6.5% corresponded to other exports, which reached a value of US$200.8 million, 31.1% lower than the accumulated value in March of the previous year.