Argentina suspends soy oil and meal exports

By Trend

The Argentine government suspended exports of soy oil and meal "until further notice," the Ministry of Agriculture, Livestock and Fisheries said, Trend reports citing Xinhua.

The ministry's Undersecretariat of Agricultural Markets said in a statement that as of Sunday and until further notice, registration of export sales of soy oil and meal will be suspended for all purposes.

According to the statement, this includes foreign sales of soy oil, meal and pellets, as well as other products derived from the oilseed, including "solid residues from the extraction of soy oil, ground soy or soy pellets."

Argentina ranks among the world's leading exporters of soy oil and meal, shipping 5.5 million tons of oil last year, with a market share of nearly 50 percent, according to data from the Rosario Stock Exchange.