La Niña threatens this year's soybean crop in Paraguay

Published Nov 18, 2024

Tridge summary

Paraguayan soybean producers are cautious about the potential impact of La Niña on the upcoming crop, despite expectations for a record harvest and exports in the 2023/24 season. The country has seen a significant increase in soybean exports, reaching 7.7 million tons until last month, and projections for the 2023/24 campaign exceed 10.7 million tons. However, the 2024/25 agricultural cycle could be affected by rainfall deficits due to La Niña. The Meteorology and Hydrology Directorate predicts that La Niña could extend until the first five months of 2025, potentially prolonging the Paraguay River crisis and causing logistics and foreign trade losses.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Paraguayan soybean producers warned this weekend that the La Niña weather phenomenon may affect this year's crop while the 2023/24 harvest is expected to reach a record in tons produced and exported, it was reported in Asunción. The 2024/25 agricultural cycle could be affected by La Niña with rainfall deficits before the end of the year. According to the Paraguayan Chamber of Exporters and Marketers of Cereals and Oilseeds (Cámara Paraguaya de Exportadores y Comercializadores de Cereales y Oleaginosas - Capeco) 7.7 million tons of soybeans were exported until last month, an all-time high in terms of volumes shipped, with results even surpassing the previous record of 6.5 million tons during the 2019/20 campaign. According to Capeco's Foreign Trade Advisor Sonia Tomassone current projections for the 2023/24 campaign exceed 10.7 million tons, although the exact figures are not to be announced until next month. Tomassone pointed out that, despite a decrease in international prices of ...

Source: MercoPress