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By Maximilian Heath
BUENOS AIRES, April 29 (Reuters) – Argentine farmers’ soybean sales hit the slowest sales pace in 11 years despite the easing of exchange controls that President Javier Milei hoped would speed soy sales up, data from the Agriculture Ministry showed on Tuesday.
The oilseed sales reached 24% of the 49 million metric tons estimated for the 2024/25 harvest in Argentina, the world’s largest exporter of soybean oil and soybean meal.
The ministry data was collected up to April 23 and showed that during the seven days prior farmers sold 713,800 metric tons of soybeans from the 2024/25 harvest.
Uncertainty regarding the exchange rate and a slow start to soybean harvest due to heavy rains have impacted the soybean sales pace.
Until last week, the oilseed was at its slowest sales pace in the last ten years.
(Reporting by Maximilian Heath; Editing by Brendan O’Boyle and Sarah Morland)
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