Bioceres is betting on the strong expansion of agribusiness during the government of Javier Milei
Rosário Stock Exchange reduced soybean harvest estimates due to hot and dry weather from the middle of January to early February. There should be a drop of 2.8 million tonnes of soybean production compared to an estimate made in January, when a harvest of 20.2 million tonnes was projected. Thus, the soybean harvest is estimated at 17.4 million tonnes. (Rosário Stock Exchange)
Bioceres is betting on the strong expansion of agribusiness during the government of Javier Milei. “There is a direct increase in farmers’ purchasing power,” said the company’s CEO, Federico Trucco. “When farmers move from a defensive mindset to one where they seek to maximize production, they invest in more technology, and in more precise technology, like ours. We can see this partially reflected in our earnings”. (Bioceres)
Department of Agriculture has authorized field tests of a genetically modified sugarcane variety, developed by researchers from the Obispo Colombres Agroindustrial Experimental Station, in the province of Tucumán. The GMO variety should have greater tolerance against periods of water deficit. (EEAOC)
State of Mato Grosso had a record cattle slaughter in January, reaching approximately 615 thousand heads. Highlight to the slaughter of 308 thousand females, or 50.15% of the total. January is a period of increase in cattle slaughter due to the off-season and the need for resources on the part of livestock farmers. Also, there was an increase in demand for beef, in addition to excessive degradation of pastures in the State of Mato Grosso, caused by drought, which made farmers anticipate the slaughter. (Indea)
President of the Parliamentary Front for Agriculture, congressman Pedro Lupion, said that the government needs to admit there is an ongoing crisis in agriculture. “I have been discussing this with the Ministry of Agriculture. The first step is the government to admit and indicate we are in a crisis and we will need a reasonable and important amount of resources to compensate for this, whether with the Harvest Plan [Brazilian Government’s agricultural financing program] or with agricultural insurance”, according to Lupion. “Farmers planted soybeans at US$ 28.18/bag and are now selling them at US$ 18.11/bag. There will be a reduction of 20 million tonnes… We need to have a clearer analysis of this harvest, as some states have a high yield rate and others are showing a decline.” (FPA)
Frimesa, an agro-industrial cooperative with HQ in Medianeira, State of Paraná, recorded 11% growth in revenue in 2023, reaching US$ 1.23 billion. Surplus paid to cooperative members totaled US$ 7.33 million, 18% lower compared to 2022. Frimesa’s executive president, Elias José Zydek, states that, even below expectations, the year’s balance was positive. (Frimesa)
Food processor BRF recorded net profit of US$ 165.68 million in the 4Q of 2023, the first after seven consecutive quarters of losses. Sharp drop in corn prices was one of the main factors behind the improved performance. (BRF)
Sugar producer Tereos plans to significantly increase the production of the commodity in Brazil in 2024/25, said the group’s CEO in the country, Pierre Santoul. The company is investing to increase the share of sugarcane destined for sugar production to 70%, an increase of 3% compared to the previous cycle, reaching 2 million tonnes. According to Santoul, Brazilian sugarcane crushing should remain stable in 2024/25, even in the face of a crop failure of approximately 10%, which was estimated for the Center-South region. (Tereos)
According to a report from the World Economic Forum, a “new model of economic growth” in the Cerrado biome could generate US$ 72 billion per year for the Brazilian economy. Document proposes several solutions, including sustainable production methods, such as agroforestry and regenerative agriculture, which aim for more sustainable conditions for increasing food production, increasing yields and resulting in greater profits and more jobs. (World Economic Forum)
Transition from El Niño to La Niña should cause a lack of rain in some regions of Chile, such as in the Maule region, which should see a drop from 700 mm of rain during the winter to 250 or 300 mm. “In addition, the phenomenon brings low temperatures during the winter, because of polar air masses, which can cause frosts of 2 or 3 degrees below 0”, said Patricio Colville, researcher at the University of Talca. “La Niña could last up to 3 years”, he said. (University of Talca)
Colombian Agricultural Institute has updated sanitary requirements for the import of day-old chicks, fertile eggs, fresh or frozen poultry meat, and processed poultry meat products from the US. The objective is to guarantee the entry of products that do not harm Colombia’s status as a self-declared country free from highly pathogenic avian influenza. (ICA)
Trade agreement negotiations between Mercosur and the EU are suspended until European parliamentary elections in June are concluded, according to the Paraguayan Ministry of Foreign Affairs. “Josep Borrel [EU’s representative for foreign affairs and security policies] expressed to me the impossibility of the EU reaching an agreement, at least until the end of parliamentary elections, which will take place next June. Therefore, it is an agreement that remains pending…”, according to the Minister of Foreign Affairs, Rubén Lezcano. (MRE)
Brazilian agricultural inspectors’ strike, which began in January, is creating a long queue of trucks on the border of Brazil and Paraguay. According to Celso Callegario, vice-president of the Brazilian Association of Logistics, Transport and Cargo, the strike could cause diplomatic problems between the countries. “Paraguay needs to sell its commodity production to Brazil. It does not have access to the sea, so this is causing a lot of discomfort, as well as huge losses, compromising the quality of products that remain inside trucks for several days”, said Callegario. In Foz do Iguaçu, State of Paraná, almost 2 thousand trucks wait in line to be allowed to enter or leave the countries, at outposts on the Brazilian and Paraguayan sides. (ABTC)
Purchase of high-quality sugarcane seeds from Mexico should benefit more than 10 thousand farmers. The objective is to use genetic material to develop a breeding program in the country. “The development of a new sugarcane variety with high stem biomass productivity and juice quality aims to increase yields of more than 160 thousand hectares of crops in the regions of Piura, Lambayeque, La Libertad, Ancash, Lima and Arequipa”. (Ministry of Agriculture)
According to the Minister of Agriculture, Jennifer Contreras, interest rates for farmers who receive resources from the Financial Inclusion Fund for Small Farmers will be up to 5%. “We met with the directors of Associatividad and Agrobanco so that resources allocated to the fund will allow us to lower interest rates to 5% in favor of small farmers. Therefore, we are working to benefit our farmers”, said the minister. (Ministry of Agriculture)
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