Brazilian Beef and Chicken Meat Exports Reach Record High
President of Argentina, Javier Milei, said on February 10th the country is close to reaching a new agreement with the International Monetary Fund, to which it owes around US$ 40 billion. According to Milei, the program includes new loans, which will be used to pay off debts with the Central Bank. In his view, this will allow the Central Bank’s balance sheet to be strengthened without increasing the country’s total debt. (Government of Argentina)
In January, drought reduced harvest estimates, with a drop of 2 million tonnes for corn and 5 million for soybean. Soybean harvest was adjusted to 47.5 million tonnes, 2.5 million less than the previous year, and corn is expected to be 4% lower, at 46 million tonnes. (Rosario Grain Exchange)
In 2024, beef production fell by 5.4%, with the number of cattle slaughtered reaching 13.7 million head, down 9% on the previous year. Exports also fell by 5% to 1.47 million tonnes. (Argentine Meat Exporters Consortium)
Recent rains have eased the drought and benefited more than 60% of the soybean season. The share of the harvest in poor or regular conditions has been reduced from 50% to 30%. (Rosario Grain Exchange)
Federal Inspector Syndicate of Santos, State of São Paulo, has ordered a 15-day stoppage in customs clearance at the Federal customs units. (Sindifisco)
Pátria AgroNegócios, a consulting firm, reduced projections of soybean and corn harvests for 2024/25. Soybean harvest was estimated at 165.87 million tonnes, around 2 million tonnes below the January projection, amid drier conditions in the South last month. “There was a reduction in productivity in the States of Mato Grosso do Sul, Paraná, Rio Grande do Sul and Santa Catarina. The largest percentage reduction was in Rio Grande do Sul so far, as a result of the lack of rain”, said the director of Pátria, Matheus Pereira. (Pátria Agronegócios)
In 2024, Brazilian tobacco was exported to 113 countries, and 455 thousand tonnes generated US$ 2.977 billion. Brazil has maintained an annual shipment of 500 thousand tonnes and US$ 2 billion over the last 10 years. “Despite all the climate issues faced in the 2023/24 season, firstly drought and then flood that occurred in the State of Rio Grande do Sul, we achieved a very positive performance”, said Valmor Thesing, president of the Interstate Tobacco Industry Union. (MDIC; SindiTabaco)
AGCO Corporation announced expansion of operations in Jundiaí, in the State of São Paulo, with the opening of the “Transmissões Reman” Center of Excellence, a unit for repairing machine components, and the new HQ of the AGCO Academy. US$ 3.30 million were invested. (AGCO Corporation)
Sugar production in the Center-South was estimated at 43.3 million tonnes in 2025/26, an increase of 8.5% when compared to 2024/25. This is due to the increase in raw material availability and the higher percentage of sugarcane used for sugar production. (Hedgepoint Global Markets)
Bradesco acquired 50% of John Deere S.A. Bank, a division of John Deere Brasil, through Bradesco Holding de Investimentos. (John Deere; Bradesco)
Brazilian Association of Vegetable Oil Industries projects the 2025 soybean harvest at 171.7 million tonnes, up from 153.5 million in 2023, with crushing at 57.5 million, meal production at 44.1 million, and oil at 11.4 million. Exports are expected to reach 106.1 million tonnes of soybeans, 23.6 million of meal, and 1.1 million of oil, while imports should total 500,000 tonnes of soybeans and 200,000 of oil. (Abiove)
Cooperative Coamo Agroindustrial recorded a revenue of US$ 5.05 billion and a net surplus of US$ 356.14 million in 2024, with US$ 121.93 million distributed to over 32,000 cooperative members, in addition to other benefits totaling US$ 144.91 million. (Coamo)
In the State of Mato Grosso 28.6% of soybean have been harvested, below the average of the last five years (39.6%), and 23.5% of corn has been planted, also below the average (36.1%). The weather conditions should speed up harvesting and planting. Soybean sales are at 42%, compared to 55% last year. (Santander)
Beef and chicken meat exports hit records in January, with 209.1 thousand tonnes of beef and 443 thousand tonnes of chicken meat. Revenue totaled US$ 826.4 million, 20.9% up from the previous year. China imported 92.7 thousand tonnes of beef and 44.3 thousand tonnes of chicken meat. (Abiec/ABPA)
Brazil’s 2025/26 coffee harvest estimate fell to 64.1 million bags from the previous forecast of 65.2 million. Arabica production was revised to 41.1 million bags from 42.6 million, while canephora increased from 22.6 to 23 million. (Hedgepoint)
Intense heat in the State of Rio Grande do Sul reduced milk production: Alegrete (-40%), Santa Maria (-30%), and Santa Rosa (-5% to -10%). Caxias do Sul and Erechim maintained pastures but saw more mastitis cases. Porto Alegre remained stable with supplementation, while Pelotas faced power outages and high costs. (Emater/RS-Ascar)
Ethanol sales in the Center-South totaled 3.06 billion liters in January, up 2.07% compared to the previous year. Hydrated ethanol increased by 3.90%, with 1.83 billion liters sold, and anhydrous ethanol rose by 5.34%, with 1.09 billion liters. Since the beginning of the 2024/2025 harvest, ethanol sales have totaled 29.83 billion liters, a 10.73% increase. (Unica)
Cassava starch consumption and production increased by 17% and 12% in 2024, reaching 680,000 and 640,000 tonnes, respectively. (Cepea)
Conab signed an agreement with National Bank for Economic and Social Development and will sell nine properties for US$ 30.22 million to expand storage capacity from 900,000 to 1.2 million tonnes, modernizing warehouses and reducing costs. (Conab; BNDES)
Nevada Group, a soybean and bean producer, filed for bankruptcy protection (similar to USA Chapter 11) to renegotiate US$ 11.4 million in debts, with Sicoob and Banco do Brasil as its main creditors. (Quist Investiments; RM2F Lawyers)
Up to the second week of February, 78.2 thousand tonnes of nectarines have been exported, an increase of 35% compared to the previous harvest. The Far East received 54% of exports, and North America was the main importer (61%). (Decofrut)
Colombian Institute of Agriculture announced that the six outbreaks of bird flu in Remolino, in the department of Magdalena, have been eradicated. Thus, it was declarted the end of the quarantine due to the disease in the territory. There are currently no active outbreaks of bird flu in the country. (ICA)
The US’ White House Trade Representative praised the repeal of the Mexican law restricting imports of GMO corn. On Wednesday, the Mexican government published a decree that “renders ineffective” the ban on the import of genetically modified corn. (Government of Mexico; White House Trade Representative)
Financial Development Agency launched the “Agricultural Debt Restructuring” program to support sectors affected by drought, allowing the renewal, refinancing, or restructuring of loans, as well as payment term extensions. The initiative follows measures from the Paraguayan Central Bank, offering financing of up to US$ 500,000 per farmer, valid until July 31st, 2025. (AFD)
Taiwan became # 1 market for Paraguayan pork in 2023, accounting 87% of exports, totaling US$ 29 million, a 108% increase from 2023. In total, 9.12 million kg were exported, compared to 5.54 million in the previous year. In early 2025, Taiwan continued as the main destination, with 631.5 tonnes exported in January alone. (Senacsa; Paraguayan Meat Chamber)
Cocoa exports generated greater profits in 2024, surpassing shipments in 2023. Shipments totaled 156,560 tonnes for US$ 1.22 billion. Compared to 2023, this represented an increase of 53% in volume and 219% in value. The average price was US$ 7.84/kg, an increase of 108%. (Fresh Fruit)
Minerva Foods has made a new request to the Comisión de Promoción Y Defensa de la Competencia to acquire three Marfrig meatpacking plants, with the proposal to resell the Colonia plant to the Indian group Allana Group. The acquisition of the San José and Salto plants is conditioned to resell those plants. The original agreement between the companies involved the sale of 16 Marfrig plants in South America for US$ 1.3 billion, in which US$ 259 million is already paid, with the assets in the country valued at US$ 116 million. (Minerva Foods; Marfrig)
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