Soybeans Price in Ecuador Increases by 6,3%

Soybean

This week the price of the soybean bag increased by 6,3% in the international market. According to the National Stock Exchange of Agricultural Products, the price increased from $29,43 to $31,24.

The drought that is striking the United States, the main provider, is one of the causes of the variation of the prices that have increased little by little in the last week. This affects directly the imports of oil and soybean meal.

Wilman Garcia, president of the National Corporation of Soy Farmers in Ecuador, said the internal production is not enough to supply the demand in the country. Garcia affirmed that the situation has caused that different companies increase the prices for the public or assume the costs to avoid affecting their clients. AV