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During such a difficult year for the global economy, the positive performance of Paraguay's soybean exports has somewhat mitigated the negative impact of the new crown pneumonia outbreak.
Paraguay's soybean exports rose 23.5 per cent year-on-year between January and November 2020 and are expected to reach their highest level since 2016 by the end of the year, according to the latest foreign trade report from the Association of Food and Oilseed Exporters and Marketers of Paraguay.
Exports of soybeans from January to November 2020 were 6.29 million tons, up 23.5 percent from the same period last year (4.81 million tons), Capeco reported on December 14.
, Capeco's foreign trade adviser, said: "I don't know. Sonia Tomassone said soybean exports in the first 11 months of the year were up 1.48m tonnes from a year earlier, thanks mainly to an increase in soybean production in the 2019/2020 harvest season to more than 10m tonnes, and soybean exports were expected to be at their highest level since 2016 by the end of the year, while exports of soybean oil and other soybean derivatives rose significantly in the first 11 months of the year.
In terms of export destinations, Argentina remains Paraguay's top soybean export destination, accounting for 77 per cent of Paraguay's total soybean exports, followed by Brazil with 12 per cent, followed by Russia (9 per cent) and other destinations (2 per cent).
addition, Tommasone stressed that Brazil is in high demand for soybeans and expects to continue to expand paraguayan soybean imports during the next soybean harvest season.
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