COFCO closed a soybean and sunflower oil refining plant in Buenos Aires, citing weak local demand, unfavorable market conditions and idle capacity. Argentina is in recession, and its currency has lost half its value over the past year.
COFCO will focus on sourcing and crushing oilseeds for export.
Closing a refinery removes domestic refined oil demand in Argentina, which may leave more crude oil available for export. This could add pressure on soybean oil prices while crushing export volumes are unaffected.
Tras 152 eventos bajista de comercio pasados, Aceite de soja se movió una mediana de -0,2 % en 5 sesiones (47% al alza; mitad central entre -2,1 % y +2,1 %), y -0,1 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.