RIO DE JANEIRO, BRAZIL – Soybean crushing in Argentina hit a 6-year high in April, when processing reached 4.2 million tons, due to strong sales by producers amid high prices, said the CIARA-CEC chamber of processors in a report released on Tuesday.
Argentina is the largest global exporter of soybean meal, a product used as feed for pigs and poultry.
Soybean crushing in April was the second highest in history for a single month, according to CIARA-CEC.
In the first quarter, Argentina processed 13.7 million tons of the commodity into soybean meal or oil, according to the organization.
“The factor that motivated producers to sell more soybeans was the improvement in price,” the chamber said.
The oilseed has been trading on the Rosario grain exchange at around 31,700 pesos (US$330) per ton.