Industry

Argentina’s soyoil prices tumble on logistics woes, subdued demand

Soyoil prices in the world’s largest exporter have fallen 30% since the start of the year to $557.25/FOB Up River as edible oil and biodiesel demand plunged due to the Covid-19 pandemic. On top of that, Argentina has been plagued by low water levels on the Parana River, which connects the Rosario export complex to global markets. The hub handled 93% of all Argentina’s vegoil exports in 2019, further damaging the limited demand that there was.

Source: Agricensus

Categories: Industry