SAGyP lowered its estimate of sunseed production in Argentina
Lemongrass
Argentina
Market & Price Trends
Published Mar 26, 2024
Tridge summary
In February, Argentina experienced a significant increase in soybean processing, with volumes reaching 2.35 million tons, marking a 10.5% rise from the previous month's 2.13 million tons, as per the Secretariat of Agriculture, Livestock and Fisheries (SAGyP). Despite this positive trend in soybean processing, the country faces a downward revision in its sunseed production forecast for the marketing year (MY) 2023-2024, now expected to be 4.4 million tons, a 2.2% decrease from the earlier forecast of 4.5 million tons. Furthermore, BASE has also reduced its seed crop forecast to 3.6 million tons, which is not only 200,000 tons less than its previous estimate but also 1 million tons below the 2022/23 crop, indicating a potential challenge in the agricultural sector.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Argentina processed 2.35 million tons of soybeans in February, up 10.5% from 2.13 million tons in the previous month, according to data released by the country’s Secretariat of Agriculture, Livestock and Fisheries, SAGyP. SAGyP also lowered its estimate for the country’s sunseed production to 4.4 million tons in MY 2023-2024, down 2.2% from its February forecast of 4.5 million tons. At the same time, BASE expects a lower seed crop. Experts updated the production ...
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