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18 DICEMBRE 2018

17:01 - Argentina

ARGENTINA WILL BE THE 3RD EXPORTER AND THE 7TH OIL PRODUCER IN THE WORLD

(ICE) - ROMA, 18 DIC -

The relevance of the oils and fats industry for Argentina is indisputable. It is expected that after the worst drought of the last 50 years, Argentina will occupy seventh place as producer and third, as world exporter of oils and fats. According to a report by the Rosario Stock Exchange (BCR), the country is expected to remain the international leader in exports of soybean oil and peanut, third in the ranking of exporters of sunflower oil and fourth in the ranking of olive oil, in a campaign strongly conditioned by commercial and political tensions between China and the United States.

Based on the analysis, in the 2017/18 campaign Argentina ranked eighth in the ranking of countries producing oils and fats, and would improve its position in the next campaign. According to Oil World, in the previous cycle the Argentine production of oils and fats fell for the first time in 5 campaigns and was below the Brazilian production. This is explained, to a large extent, by the decrease in soybean crushing that had not occurred since the 2012/13 season, as a consequence of the low volume harvested after adverse weather conditions affected soya and corn crops.

As a rematch, the consultant Oil World estimates a national production higher than 10 mill / ton for the 2018/19 cycle (October to September), which would exceed the production of India. Faced with this scenario, Argentina's competitive position in the world market for oils and fats is largely due to the development and capacity of the country's oilseed crushing industry, especially soybeans that allow it to obtain oil soy. In the table of positions of large exporters, Argentina would be placed behind Indonesia and Malaysia which are the largest exporters of the oil most consumed worldwide: palm oil.

Based on what was projected by Oil World for the 2018/19 campaign, consumption will increase in a greater proportion to the growth of production in the next campaign. Consequently, it is expected that the strengthening of global demand for vegetable oils supported by continued growth in the main consuming regions and the sustained demand of the biodiesel sector will sustain prices in international markets.

(ICE BUENOS AIRES)