Argentina’s year-on-year soybean oil exports rose in November, the latest Agriculture Secretariat data show.

Argentina exported 516,106 metric tons of soyoil in November, or 5.5% more than the 489,248 exported during the same month in 2003.

Exports rose even as the top buyer of local soyoil, China, bought less than a year ago. China bought 177,170 tons of soyoil in November, compared with 252,302 tons a year earlier.

However, sales to India - the No. 2 buyer - were up in November as that country bought 93,910 tons compared with only 33,100 a year ago.

Pakistan ranked third, buying 30,500 tons compared with 19,000 tons the previous year.

Soymeal, pellets

Meanwhile, Argentina exported 1,423,808 tons of soymeal and pellets in November, down 6.5% from the 1,523,147 tons shipped during the same month last year.

The Secretariat does not distinguish between meal and pellets in its monthly report.

The Netherlands was the top destination for soymeal and pellets in November, buying 197,977 tons compared with 217,091 tons the previous year.

Spain came in second, accounting for 180,612 tons, down from 248,368 tons a year earlier.

Italy came in third with 149,852 tons, up from 95,677 tons a year ago.

Argentina is the world’s No. 1 soyoil and soymeal exporter. (Dow Jones)