Investment of US$ 7.582 billion to promote the sustainable production of traditional crops in Chile
José Martins, president of the Buenos Aires Grain Exchange, said that by the end of Javier Milei’s term, agricultural production could rise from 136.4 million tonnes in the 2023/24 cycle to 167 million tonnes in the 2027/28 campaign. Foreign exchange revenue from major complexes would jump from a projected US$ 31 billion to US$ 38 billion in 2027/28. This scenario would generate 187,000 new jobs. (Buenos Aires Grain Exchange)
Company of Argentina will invest in the construction of a new agro-industrial port in Timbúes, on the Paraná River, which will cost about US$ 550 million and employ about 2,600 Argentines. The domestic private equity investment will be provided by Terminales y Servicios S.A. (Terminales y Servicios S.A)
Brazilian beef exports registered a 52% increase in volume in February, reaching 231,163 tonnes and total revenue of US$ 924.7 million, an increase of 33% compared to the same period in 2023. However, the average price per ton fell from US$ 4,564 to US$ 4,000, a reduction of 12.35%. (Abrafrigo)
Adriano Becker is the new Precision Technology Product Marketing & Portfolio Manager at CNH Industrial. (CNH Industrial)
BNDES intends to provide US$ 400.9 million to assist rural farmers who had problems with crop failure and drop in soybean and corn prices. The credit line will have interest rates between 8% and 8.2% per year, aimed at working capital. (BNDES)
According to data from the Ministry of Development, Industry, Commerce and Services, State of Paraná’s exports totaled US$ 3.4 billion in the first two months of this year, 13.6% higher than in the same period in 2023, with US$ 3.02 billion. Of this volume, soybeans correspond to US$ 867.9 million, 24.8% of the total exported, followed by fresh chicken meat, with US$ 525.2 million (15%); soybean meal, with US$ 318.7 million (9.1%); and cereals, with US$ 144.9 million (4.1%). (MDIC; Ipardes)
In a technical report, the National Center for Monitoring and Warning of Natural Disasters highlights the high probability of the development of the La Niña phenomenon in the second half of 2024, after a scenario marked by El Niño, with variations in precipitation and air temperature being able to influence agricultural activities. In report, it is emphasized that “La Niña can modulate regional weather patterns in Brazil, increasing the chances of above-average rainfall in the Northeast and North regions of Brazil and providing scarce rainfall in the South Region”. (Cemaden)
BNDES approved the project of the new Fundo Clima, with US$ 2.08 billion to combat climate change. Financing rates range from 1% per year for initiatives aimed at native forests and water resources to 8% per year when they involve solar and wind power generation. “The new Fundo Clima is an example of the confluence of the government’s three major initiatives. It has urban mobility, which is in the Novo PAC (public investment program in infrastructure, health, education and security works); there is the greener industry, which is in the New Industry Brazil; and there is the recovery of forests and investment in renewable energy, which are in the Ecological Transition Plan,” said Nelson Barbosa, director of Planning and Structuring of Projects at BNDES. (BNDES)
Data from the Systematic Survey of Agricultural Production indicate that Brazil is expected to harvest more rice, beans, cotton and wheat in 2024, but less soybeans, corn and sorghum. The production of cereals, legumes, and oilseeds is expected to be 300.7 million tonnes, a 4.7% decrease compared to 2023, representing 14.7 million tonnes less. Soybean production is expected to decline by 1.8%, followed by corn (-10.8%) and sorghum (-14%). On the other hand, increases are expected in the production of herbaceous cotton (+5.6%), rice (+1.3%), beans (+8.1%), and wheat (+24.2%). (IBGE)
Lavoro, a distributor of agricultural inputs, had a 95% drop in its net profit, amounting to US$ 1.9 million in the second fiscal quarter of 2024, compared to US$ 35.3 million a year earlier. The drop was the result of a combination of declining agricultural input prices, increased general and administrative expenses, and interest expenses. (Lavoro)
Agribusiness exports had a record in February, reaching US$ 11.63 billion, 19.7% higher than February of 2023, with US$ 9.71 billion exported, an increase of US$ 1.91 billion. (SCRI/Mapa)
Iván Correa assumed the position of General Director of Chilenut, the Association of Chilean Walnut Producers and Exporters. (Chilenut)
Ministry of Agriculture and the National Irrigation Commission delivered 29 bonuses worth US$ 591 million to female farmers as part of a CNR contest for Women Farmers in La Araucanía, Chile. “We achieved the main focus, which is to provide irrigation to those with less access, as in the new irrigation law, from 400 UA (Units of Account) it goes up to 1000 UA as the maximum for projects for small farmers and five can be associated, and we want to see a boom in mini-dams along the entire coast and in the driest areas”, said the Minister of Agriculture, Esteban Valenzuela. (Ministry of Agriculture; CNR)
Ministry of Agriculture and the Institute for Agricultural Development announced an investment of US$ 7.582 billion to promote the sustainable production of traditional crops, such as cereals, legumes and potatoes. The initiative will benefit 1,605 farmers in the regions of Valparaíso and La Araucanía and aims to promote food sovereignty in the country. (Ministry of Agriculture; INDAP)
In January 2024, exports of Hass avocados grew by 53%, being 13,983 tonnes compared to the same month in 2023, with 9,162 tonnes. (Corpohass)
Association of Agro-Industrialists of Sugar and Derivatives of Peru pointed out that the country currently produces 12 million tonnes of sugarcane per year, with La Libertad being the main producing region, with 52% of the total, followed by Lambayeque (15%) and the Provinces of Lima (between 12% and 14%). Sugar production reaches between 1 million and 1.2 million tonnes per year. (Perucaña)
Agricultural exports in January this year totaled USD 1,096 million, a growth of 24.5% compared to 2023. This increase was mainly due to coffee exports, which correspond to 89% of traditional exports. For non-traditional exports, fruits and vegetables stand out, totaling US$ 734 million in January 2024, an increase of 27%. (Midagri)
Irrigation megaproject, Chavimochic III incorporates 60,000 new ha and improves the water supply, recovering another 40,000 ha, to meet the irrigation water demand of 144,385 hectares in the Chao, Virú, Moche and Chicama valleys. Gabriel Amaro, president of the Association of Agricultural Producers of Peru emphasized “the project will transform La Libertad into the first agro-export region in the country, and when the project is completed, La Libertad will grow at least four times more in agro-exports”. (AGAP)
INIA and forestry company LUMIN signed an agreement to promote research on eucalyptus and pine in the department of Tacuarembó. INIA aim to formulate and carry out research projects in agrometeorology, hydrology and soil science in the Eucalyptus Basin and the Pinus Basin. (INIA)
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