Overview by AgriBrasilis (02/17/24 - 02/23/24)

Agricultural emergency was declared in the province of Misiones, Argentina

Government announced an increase in minimum salary to approximately US$ 215 in February, valid for the next two months. The measure was taken through a presidential decree after employers and workers were unable to reach an agreement, according to Argentina’s official gazette. Monthly inflation reached 20.6% in January. Argentine Social Debt Observatory revealed that poverty increased to affect 57.4% of the population in January, the highest level in 20 years. (Government of Argentina; UCA)

Rains forecast for the next few days in the Pampas region should boost the 2023/24 soybean and corn crops, according to a report from the Buenos Aires Grain Exchange dated February 21st. Heavy rains in early February helped reduce crop damage after a period of dry, hot weather in January. 2023/24 season is expected to reach 52.5 million tonnes of soybeans and 56.5 million tonnes of corn, with the harvest expected to begin in April. (Buenos Aires Cereal Exchange)

Agricultural emergency was declared in the province of Misiones, due to hail storms, strong winds and rainfall. 14 departments were affected: Guaraní, San Pedro, 25 de Mayo, Oberá, San Javier, Cainguás, San Ignacio, Leandro Nicéforo Alem, Libertador General San Martín, Montecarlo, El Dorado, Iguazú, General Manuel Belgrano. (Ministry of Economy)

Agribusiness exports of the State of Rio Grande do Sul reached US$ 16.2 billion in 2023, driven by sales of soybean and tobacco. This is the highest nominal value in the historical series, and for the third year in a row. There was an important recovery in annual soybean sales (US$ 6.3 billion; an increase of 13.8%), after the severe drought recorded in 2022. (Secretariat of Planning, Governance and Management of the State of Rio Grande do Sul)

Association of Soybean Farmers from Brazil and from the State of Paraná are requesting measures from the Ministry of Agriculture to help farmers affected by the losses of the 2023/2024 season. They are asking for an extension, for at least six months, of agricultural financing installments that are about to expire, in order to allow farmers to finance their next crop. According to the Association of Soybean Producers from the State of Paraná, there are companies in the soybean market that insist on overestimating the 2023/2024 harvest, ignoring losses, which affects grain market prices and harms farmers. (Aprosoja Brasil; Aprosoja – PR)

2024/25 coffee harvest, to begin in the coming months, was estimated at 67 million 60 kg bags, an increase of 4.2% when compared to the previous season. Despite the increase in production, the harvest will be below potential due to the influence of the El Niño, according to a report by analysts Fernando Maximiliano and Glenio Caetano. (StoneX Consulting)

Brazilian economy grew 3% in 2023, driven by the strong performance of the agricultural sector. Highlight to soybean, with a 25.3% increase in production. (IBRE/FGV)

Technology startup Bem Agro raised US$ 2.06 million in an investment round led by CNH Industrial. The companies Rural Ventures, MMAgro and Agroven also participated. (Bem Agro)

Cargill should invest US$ 48.50 million in its biodiesel plant in Três Lagoas, State of Mato Grosso do Sul, to expand the factory’s crushing capacity by approximately 50% and install a glycerin refining unit. (Cargill)

Study performed by Embrapa concluded there are approximately 28 million hectares of pastures with levels of degradation between intermediate and severe in Brazil, and that there is potential for the implementation of crops in that land. Considering only grain farming, this area would represent an increase of approximately 35% of the total planted area compared to the 2022/23 season. (Embrapa)

Agricultural Price Index of the Colombian Mercantile Exchange recorded a drop of 2.92% when compared to the same week in 2023. Cattle and bananas were the products that most contributed to the drop. The index showed an increase of 1.99% in the monthly variation, with the products that most contributed to the growth being tomatoes and potatoes. (IPAP)

Colombian American Chamber of Commerce announced the objective of increasing exports to the USA by 250% by 2027, reaching US$ 1.4 billion. According to María Lacouture, president of the Chamber, it is necessary to take advantage of the opportunities offered by the US agro-industrial sector. Since the signing of the Free Trade Agreement between Colombia and the US in 2012, “non-traditional” agricultural exports [products such as palm, avocado, and sugar, for example] to the US have increased by 364%. (AmCham Colombia)

According to the National Water Commission, 76% of the water used in the country is destined for agriculture and livestock. Lack of technology in the farms and failures in the infrastructure of irrigation systems mean that approximately 60% of the water that goes to irrigate crops ends up being wasted. (Conagua)

Governments of Mexico and Canada extended until 2027 a trade agreement for the recognition of equivalence of organic products, signed in 2023. Measure allows for the reduction of costs for farmers, processors, importers and exporters by not requiring the organic origin certification procedure to be done in both countries, which means that the certification in the country of origin is already sufficient. (Ministry of Agriculture)

National Federation of Small Farmers has organized protests in several cities, alleging abandonment by the Government. Hundreds of farmers are asking for technical assistance, help from the Ministry of Agriculture, and cheap access to credit. Protests took place in front of the HQ of the Ministry of Agriculture and in front of the Directorate of Agrarian Extension, among other places. Minister of Agriculture, Carlos Giménez, said that he is willing to hear the farmers’ demands. (FNC; Ministry of Agriculture)

There was an outbreak of bird flu on a laying hen farm in the department of La Libertad. Virus killed 4,000 animals and the rest of the flock of 27,000 birds was slaughtered. (WOAH)

Vice-president of the National Institute for Agricultural Research, Walter Baethgen, said that livestock farming is not a villain in terms of carbon emissions, and that 75% of greenhouse gases come from the energy sector and the burning of fossil fuels. (INIA)


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