# COFCO shutters soybean oil refining plant in Argentina | 2019-01-09  | World Grain

> 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.

- Date: 2019-01-09 · published 2019-01-09T12:00:00.000Z
- Category: trade · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/61202-cofco-shutters-soybean-oil-refining-plant-in-argentina-2019-01-09-world-grain
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

- SBO: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2026-01-13 | [Argentina soybean exports forecast to rise \| World Grain](https://feedsoft.ai/events/13812-argentina-soybean-exports-forecast-to-rise-world-grain.md) | +2.9% | +8.9% |
| SBO | 2026-10-21 | [Argentina plans to increase soybean crush and exports in 2026/27](https://feedsoft.ai/events/13773-argentina-plans-to-increase-soybean-crush-and-exports-in-2026-27.md) | +0.5% | — |
| SBO | 2025-11-25 | [China exported a record amount of soybean oil in October](https://feedsoft.ai/events/22039-china-exported-a-record-amount-of-soybean-oil-in-october.md) | +4.6% | -2.1% |
| SBO | 2019-07-10 | [DOC lowers duties on Argentina biodiesel \| 2019-07-09 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/58195-doc-lowers-duties-on-argentina-biodiesel-2019-07-09-agri-pulse-agri-pulse.md) | +0.4% | -1.4% |
| SBO | 2026-03-01 | [India traders 'washout' soybean oil shipments to lock in price rally gains](https://feedsoft.ai/events/20703-india-traders-washout-soybean-oil-shipments-to-lock-in-price-rally-gains.md) | +4.6% | -1.4% |

## Sources

- world-grain.com: https://www.world-grain.com/articles/11466-cofco-shutters-soybean-oil-refining-plant-in-argentina

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.