Argentina’s soybean production in MY 2023/24 will be 49.6 million tons – forecast
Soybean planted area for the 2023/24 season in Argentina totaled 17.2 million hectares, up from the 16.8 million hectares that Safras & Mercado indicated in its first estimate in August 2023.
Analysts forecast national production at 49.6 million tons, higher than the 48.50 million tons projected in August 2023.
Safras & Mercado analyst Bruno Todone explained that the adjustment in occurred thanks to a very good start to the campaign, which encouraged producers to move forward with a larger area than originally estimated.
Thus, about 400 thousand hectares of planted area have been added, which in percentage terms shows an increase of about 3% compared to the previous estimate.
Read also
India approves record government procurement of pulses and oilseeds
MARS forecasts EU main crop yields below last year’s level
Climate change increases soybean production but worsens its quality
Barley prices in Ukraine are under pressure from increasing supply of the new crop
China’s vegetable oil market expands on record palm oil imports
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon