Bolivian Soybean and Derivatives Export Hit Record High
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Between January and October of last year, the value of exports of Soybeans and their derivatives increased by 74.2% in Bolivia. By the tenth month of 2022, the sale reached $2,017 million; in 2021, it reached $1,158 million. The sales reached up to October of this year are the highest in the last ten years, exceeding the exports registered in 2013 when they reached $1,211 million. According to data from the National Institute of Statistics (INE) of Bolivia, the volume of exports of Soybeans and their derivatives reached 3.2 million tons between January and October last year.
The main markets for Soybeans and their derivatives are Colombia, which represents $849 million, 42% of the total marketed. Then Peru follows with $505 million, 25% of the commercialization of Soybeans. Ecuador is the third primary market, with $257 million (12.7%), and the fourth country that demands Bolivian Soybeans is Argentina, with $247 million, representing 12.2%. The four leading countries concentrate more than 92% of national Soybean sales. The rest of the nation’s demand is nearly 8% of that product.
According to the Bolivian Institute of Foreign Trade (IBCE), the evolution of exports of Soybeans and their derivatives showed a drop in 2017 with a total export of $US 699 million; however, as of October, a record was achieved after ten years, exceeding 3 million tons and a value of over $US 2,000 million. As per the AgFlow data, Chile led its export market of Soybeans with 0.2 million tons in 2022, followed by Turkey (25,000 tons), Peru (17,788 tons), the UAE (15,500 tons), and Ecuador (12,500 tons). Total exports reached 19,668 tons in January, having shipments to Ecuador and Peru.
In 2020, Bolivia exported Soybean Meal worth $503 million, making it the 8th largest exporter of Soybean Meal in the world. In the same year, Soybean Meal was Bolivia’s 5th most exported product. The main destination of Soybean Meal exports from Bolivia is Peru ($272 million), Colombia ($144 million), Chile ($33 million), Ecuador ($28.9 million), and Turkey ($11.4 million). In 2020, Bolivia imported Soybean Meal worth $25.3k, becoming the 163rd largest importer of Soybean Meal in the world. Bolivia imports Soybean Meal primarily from: Brazil ($13k) and the United States ($12.2k).
A New Soybean By-Product Plant in Bolivia
In late 2022, Bolivia began constructing a Soybean by-product transformation plant in Santa Cruz. “From today, San Julián enters the era of industrialization. Today we are laying the cornerstone for constructing the Soybean Transformation Plant. We are going to produce Soybean oil, crude oil, Soybean husks, Soybean Meal, all the derivatives of Soybean production that you used to sell the raw material to,” highlighted Bolivian President Luis Arce.
The new Soybean processing plant will cover an area of 55,000 square meters and process 327,000 tons of grain per year, generating more than 239,000 tons of solvent Meal and 12,115 tons of husk, 22,955 tons of crude oil, and 34,432 tons of refined oil.
During his speech, the President explained that he would have a processing capacity of one thousand tons of Soybeans per day, for which he called on national producers to increase the planting and harvesting of this grain. “We will continue to carry out works, we will continue to industrialize our country, we will continue to obtain the best economic indicators that are the envy of many,” he added. The Government plans to start other constructions of this type throughout the country to benefit the Bolivian people.
Other sources: NUTRI NEWS
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