Soybean harvest in Argentina will grow by 130% in 2023/24 MY – forecast

Argentine farmers can plant about 16.8 mln ha of soybeans in the season-2023/24, which is 3% higher than in 2022/23 MY. This forecast was made by the experts of Safras&Mercado. They also expect the increase of the oilseed production in the country in the new season by 130%, up to 48.5 mln tonnes.

According to experts, most of the beans will be harvested in Buenos Aires, Cordoba, Santa Fe, Santiago del Estero and Entre Rios.

“After one of the worst campaigns for Argentine oilseeds, a significant recovery in yields and production is expected,” Safras&Mercado explained.

The regions, which suffered the most from the drought in 2022/23 MY, will be able to return to the previous indicators in the coming months, analysts believe. In particular, these are Buenos Aires, Cordoba, Santa Fe, Entre Rios and La Pampa.

“On the other hand, in the northern regions of the country, there may be a decrease in acreage, which will lead to a decrease in production productivity,” the experts summarized.

Tags: soybean, Argentina, crop forecast