Sunday, October 9, 2011

Gov’t confident ‘soybean price will bounce back’

Agriculture Undersecretary Oscar Solís assured that “soybean price will bounce back” since the market “is sending good signals to the agricultural sector.” 

His statements come after a dramatic drop in soybean value, which went from US$532.43 a ton in August to US$425.59 last Friday.

“All indicators show that prices will progressively bounce back to the values we had,” he explained, adding that “significant progress has been made in the soybean industrialization process through corporations and soybean oil cooperatives.” 

“Just like Agriculture Minister Julián Domínguez confirmed a few days ago, an 80 percent of the soybean production has already been sold and producers will wait for prices to rise again in order to sell the rest,” he stated.

Solís made these statements at the opening ceremony of the 34th. Soybean National Festival, in the town of Arequito, in the Santa Fe province.