LatinNews Daily - 14 March 2022

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In brief: Argentina suspends soy oil and meal exports

*Argentina’s government led by President Alberto Fernández has announced the suspension of export registrations of soybean oil, soymeal and other related products, a move which comes ahead of the 2021/2022 harvest in the country which is the world’s top exporter of processed soy products. The announcement, which comes amid surging prices due to Russia’s invasion of Ukraine, has been condemned by Argentina’s oilseed industry lobby group, Cámara de la Industria Aceitera de la República Argentina (Ciara). In a tweet, Ciara said the move was “totally contrary to the export interest of Argentina”, adding that as well as “being illegal, it will affect the income of foreign currency and employment in the agro-industrial chain”. According to the government, exports of soy products, the country’s leading export sector, totalled US$23.8bn in 2021, representing 30.6% of Argentina’s exports.

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