Argentina: They reduce the projection of agricultural exports by 18%

Published 2024년 4월 22일

Tridge summary

Argentina's agricultural sector is experiencing a downturn, with export projections for its five main crops - soybean, corn, wheat, barley, and sunflower - falling by 18% to US$29.3 billion due to lower international prices and a pest outbreak affecting corn yields. The total grain production for the 2023/24 cycle is now estimated at 131.1 million tonnes, a decrease from the initial forecast of 137.6 million tons. This decline, as reported by the Rosario Stock Exchange, is set against a backdrop of falling global market prices and presents a significant challenge for the country's agricultural export value in a difficult global economic environment.

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Original content

The grain harvest in Argentina faces a complex panorama, with export projections that decreased significantly due to a combination of adverse factors. The drop in international prices and the negative effects of the “leafhopper” on corn crops impacted the country's ability to generate foreign currency income. With an export projection of US$29.3 billion for the five main crops, which represents a decrease of 18% compared to December estimates. Despite initial forecasts of a record harvest, revised figures show a reduction in the total volume of grain production, now estimated at 131.1 million tonnes. This figure contrasts with the previous projection of 137.6 million tons, which placed the cycle as the second highest production campaign. This downward adjustment mainly affects soybean, corn, wheat, barley and sunflower crops, which are the pillars of the Argentine agricultural sector, they noted in the Rosario Stock Exchange (BCR) report. The April monthly report, by Tomas ...

Source: Portaldelcampo