Soya Bean Market Overview in Argentina
In value terms, soya bean production skyrocketed to $ in 2019 estimated in export prices. Overall, the total production indicated temperate growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, production hit record highs at $ in 2014; however, from 2015 to 2019, production stood at a somewhat lower figure.
In 2019, the average soya bean yield in Argentina skyrocketed to tonnes per ha, with an increase of % compared with 2018 figures. Overall, the yield saw a slight increase. The most prominent rate of growth was recorded in 2010 with an increase of % year-to-year. Over the period under review, the average soya bean yield reached the peak level in 2019 and is likely to see gradual growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2019, the soya bean harvested area in Argentina reached ha, picking up by % compared with the previous year. Over the period under review, the harvested area recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the harvested area increased by % year-to-year. The soya bean harvested area peaked at ha in 2016; however, from 2017 to 2019, the harvested area stood at a somewhat lower figure.
The revenue of the soya bean market in Argentina soared to $ in 2019, jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a tangible expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Soya bean consumption peaked at $ in 2014; however, from 2015 to 2019, consumption remained at a lower figure.