Note No. 1: shipments of oleaginous by-products from Argentine ports remained at 32.7 MT in 2017. They slightly fell by 1.7% in 2017 compared to the previous year. They went from 33.3 Mt in 2016 to 32.7 MT in 2017.

In 2017, by-products shipments abroad, from all Argentine port terminals, totaled 32.7 million tons (Mt), decreasing by 550 thousand tons the volume registered in 2016 but exceeding by 4.3 Mt the record of the year 2015.

The most important falls occurred in the "Northern Zone of the Gran Rosario", punctually in the towns of San Lorenzo and Puerto General San Martin, on whose ports the shipments decreased 1 MT, falling 4% year-on-year.

However, these reductions were partially offset by increases in the "Southern Zone of the Gran Rosario" (Rosario, General Lagos, Punta Alvear and Villa Gobernador Gálvez), whose shipments increased by 450 thousand tons, achieving a growth of 10% year-on-year. Note No. 2: Shipments of sunflower pellets have doubled in the last two years.

In 2017 there were shipments of sunflower pellets abroad by 578 thousand tons, almost twice than the 292 thousand tons in 2015. With respect to 2016, the year-on-year growth in 2017 was 12% and, in tons, more of 60,000.

Note No. 3: By-products' shipments from Argentine origin fell 1.6% from 2016 to 2017, while those of Bolivia and/or Paraguay decreased by 3%.

In 2017, 31 million tons of by-products from Argentine origin were shipped, almost 500 thousand less than the previous year. 97% of these shipments were soy pellets, while the rest was distributed among malt and sunflower pellets.

Regarding neighboring countries, the case of Bolivia whose shipments increased 96% in two years, and between 2016 and 2017 by 18% to 510 thousand tons is noteworthy. On the other hand, the merchandise shipped from Paraguayan origin fell 9% in the last year, with 120 thousand tons less than the previous year. To sum up, the percentage share of both countries with respect to the general total (which also includes Argentina) decreased by 3% compared to 2016.

Note No. 4: Terminal VI and Renova were the Argentine ports that shipped most by-products last year.

In table N°3 by-products' shipments per terminal can be analyzed in the year 2017. It can be inferred that Terminal VI of San Martín, which belongs to Bunge and AGD ("Aceitere General Deheza"), occupied the first place in the ranking with 7.3 Mt shipped. The second place belongs to the Renova, also in Puerto General San Martín, with 4.8 Mt dispatched .

Note N° 5: What was the participation of the "Gran Rosario" Ports in 2017? What grains and volumes were shipped from their different port terminals?

This question can be answered by looking at table N° 3. From the port terminals of the "Gran Rosario", 96% of the national total of protein meals was shipped in 2017. Approximately 31.5 Mt. This relative participation of 96% is maintained at a similar level to that evidenced in 2015 and 2016.

At the individual level of each by-product, the participation of the ports and factories of the "Gran Rosario" (GR) was as follows:

• The GR shipped 97% of the shipments of soy pellets, for a total of 29.1 million tons.

• The GR remitted 88% of the national shipments of sunflower pellets, totaling 507 thousand tons.

• It sent abroad 36% of the national shipments of malt, for a total volume of 160 thousand tons.

•100% of the soy pellets that arrived from Paraguay/Bolivia in barge trains along the Paraná River.