Beef and Lamb Export Markets Were Reopened Between Uruguay and Malaysia
Banco de la Nación Argentina launched a credit line for the purchase of local agricultural machinery with rates ranging from 17% to 22%, to assist farmers and contractors during the Agroactiva event. (BNA)
Adverse weather conditions, frost, lack of rain and leafhopper attacks are harming crop yields. Corn harvest is below average, with only 42% of the areas completed, while soybean, despite being at 87%, is also below the average of the last five years. (INTA)
It is estimated that 2.71 million tonnes of soybean will be lost in the State of Rio Grande do Sul due to the floods. More than 206 thousand properties were affected, with impacts on grain production, livestock, horticulture and fruit growing. (Emater)
The 2024/25 coffee harvest was estimated at 69.9 million 60 kg bags, an increase of 5.4% when compared to the previous season, due to favorable weather conditions. Arabica coffee production should reach 48.2 million bags (+7.3%). Robusta and Conilon should reach 21.7 million bags (+1.4%). (USDA)
Brazilian Confederation of Agriculture and Livestock filed a lawsuit with the Supreme Federal Court against the decision by President Lula’s government to allow the import of subsidized rice. They stated that there is no risk of rice shortages because of the floods in the State of Rio Grande do Sul, since 85% of the rice crop planted there had already been harvested before the rains and that farmers in the region were never consulted in the process of formulating this policy. (CNA)
The Federal Government has closed an agreement to promote Brazilian coffee and create an innovation hub in Shanghai, with Luckin Coffee, the largest coffee shop chain in China and the main importer of Brazilian coffee. The company will purchase approximately 120,000 tonnes of Brazilian coffee, worth around US$ 500 million. “In 2022, Brazil exported US$ 80 million in coffee, and last year it was US$ 280 million, practically four times more than the previous year. Now, in this contract with Luckin Coffee alone, we are talking about half a million dollars”, said the Vice President of Brazil, Geraldo Alckmin. (MDIC)
Disbursement of rural credit from the 2023/24 Plano Safra [Brazilian Government’s Rural Credit Plan] reached US$ 71.22 billion from July/2023 to May/2024, an increase of 13% when compared to the same period of the previous season. The amount corresponds to 86% of what was planned for the current season for all farmers (small, medium and large), which is US$ 83.12 billion. (Ministry of Agriculture)
Copefrut, one of the world’s largest cherry exporters, has released its Sustainability Report regarding the 2022/2023 season. Around 71,000 tonnes of fruit were exported to more than 40 countries on five continents, with around five species exported. “We continue to maintain our competitiveness. This economic growth is essential to generate wealth and ensure our sustainability”, says Alba Llavona, the company’s Head of Sustainability. (Copefrut)
Colombia has granted a health authorization for the import of coconut seeds from Brazil. In 2023, the country imported more than US$ 1.37 billion in agricultural products from Brazil. (Ministry of Agriculture)
Corn production is expected to reach 3.93 million tonnes in the 2023/24 season, reaching an average of 5 tonnes per hectare. So far, 4% of the area has been harvested. (StoneX)
Peru exported US$ 147 million of agricultural products to Spain in the 1Q/2024, an increase of 26% when compared to the same period last year. Highlights included avocado (36%), mango (11%) and asparagus (9%). (Fresh Fruit)
Beef and lamb export markets were reopened between Uruguay and Malaysia. Through efforts by Uruguayan institutions, the country managed to be included after 15 years of absence. Malaysia is considered one of the most demanding halal markets in the world. (Ministry of Agriculture)
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