Argentina soy crushing down over 20% in August vs year earlier
22.09.2020 (www.agriculture.com/markets) - BUENOS AIRES, Sept 22 (Reuters) - Argentina, the world's top exporter of processed soy, saw crushing volumes of the grain fall a sharp 20.6% year-on-year in August to 3.3 million tons, according to data from the South American country's agriculture ministry.
In the first eight months of the year, the country's crushing plants processed a total of 25.9 million tons, 9% below the same period last year, according to the monthly government report released late on Monday.
The August milling yielded 2.5 million tons of soybean meal and 657,229 tons of soy oil. The processed soy supplies global buyers in Europe and Southeast Asia.
Argentina harvested 49 million tons of soybeans in the 2019/20 campaign, which ended in July, down from 55.3 million collected in the previous season, official data show. Sowing of the new 2020/21 season will begin in October. (Reporting by Marina Lammertyn and Maximilian Heath; Editing by Adam Jourdan and Jonathan Oatis)
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