In 2023, Pork Exports Fell 460% in Peru
In recent years, there was a significant growth in the adoption of agricultural technologies, with emphasis on the “technification of machines, automation, robotics and artificial intelligence”, according to Fernando Scaramuzza, researcher at the National Institute of Agricultural Technology. As a result, “the adoption of precision technologies in Argentine agriculture is significantly transforming the sector, improving the efficiency, yields and sustainability of agricultural production”. (INTA)
President Javier Milei announced a reduction in the import tariff (PAIS, or Tax for an Inclusive and Solidary Argentina) to reduce inflation. The tax was reduced from 17.5% to 7.5% with the aim of controlling rising prices and fulfilling campaign promises. PAIS represents approximately 6% of the country’s total tax revenue. (Government of Argentina)
Frete.com, reported a 13.7% growth in agribusiness freight in the 1H 2024. This is mainly due to soybean, which had a 52,9% increase compared to the 1H 2023. “Despite the serious climate problems that affected production in the South of the country, Brazil’s soybean exports recorded a 2.23% increase in the 1H 2024, reaching 64.15 million tonnes…”. (Frete.com)
With low water levels, cargo transport navigation on the Paraguay River was interrupted in the State of Mato Grosso do Sul. The Agency for the Sustainable Development of Waterways and Export Corridors had warned in July about the possibility of interruptions and called for dredging to be carried out with “maximum urgency”. (Adecon)
Ministry of Agriculture opened up 100 agribusiness markets in 8 months. Since the beginning of 2023, there have been 178 market openings for 58 countries. “Each achievement reaffirms our commitment to sustainable growth and competitiveness in the sector, always seeking to open doors for our farmers”, said Roberto Perosa, Secretary of Commerce and International Relations. (MAPA)
Coamo opened up a feed factory and is investing US$ 310 million to produce ethanol. “We are inaugurating the feed factory and starting the ethanol factory, as part of our planning to industrialize corn, which was the last product of our cooperative members that wasn’t being processed”, according to the president of the Board of Directors of Coamo and Credicoamo, Aroldo Gallassini. (Coamo)
Approximately 20,000 ha of sugarcane from São Martinho mill were affected by fire in the State of São Paulo, and a loss of 110,000 tonnes of sugar was estimated. Raízen also reported losses, estimated at 1.8 million tonnes of sugarcane, which is “2% of the total forecast for the 2024/25 season, based on the total crushing estimate”, said the company. In total, losses from fires in the state are expected to reach US$ 63.2 million, affecting more than 1% of the farms. Around 2,100 fire spots were identified in sugarcane farms, having affected approximately 59,000 ha of sugarcane. (São Martinho; Raízen; Orplana)
The government is opening a US$ 358.28 million credit line to cover discounts granted on credit operations for farmers who were harmed by the floods in the State of Rio Grande do Sul. The funds will “benefit the settlement and renegotiation of financing, investment or industrialization operations contracted by farmers in the State of Rio Grande do Sul who suffered material losses due to the heavy rains… in addition to extending loan installments”. (Government of Rio Grande do Sul)
The fires in the State of Amazon and Pantanal resulted in losses of US$ 4.12 million, with US$ 2.46 million in the agricultural sector and US$ 1.66 million in livestock. From an environmental point of view, the National Confederation of Municipalities points out that losses to the country’s biodiversity are incalculable”. (CNM)
Petrobras and JBS are the Brazilian companies with the highest revenue during the 2Q 2024, with respective revenues of US$ 22.05 billion and US$ 18.15 billion. This is the highest quarterly revenue for JBS, with an increase of 9.1% when compared to the same period in 2023. (Elos Ayta; JBS)
Coffee prices have reached US$ 503.48 per 125 kg, the highest value since April of 2023. On the New York Stock Exchange, coffee trading reached US$ 2.55/pound, highlighting the stability of the international market. The scenario is also due to the weather, which is expected to be “hot and dry for much of the next 4 weeks” and “unfavorable for coffee crops throughout the country”, said LSEG. (FNC; LSEG)
Agricultural sector GDP grew by 10.2% in the 2Q 2024, compared to 5.8% of the 1Q. According to a report by Bancolombia, corn, rice, sugarcane and other crops were the drivers of the positive performance, with growth exceeding the coffee sector. The result is considered unexpected by the Bank. (Bancolombia)
Eatable Adventures, a technological innovation accelerator company, announced a project with an investment fund of more than US$33 million in Colombia, with the aim of “transforming the country’s agricultural sector“. According to the company, “Colombian startups will have the opportunity to participate in incubation, acceleration and training programs.” (Eatable Adventures)
Pork exports fell 460% in 2023, due to non-tariff barriers and high production costs. (CNP; Caporc)
Lack of rain has caused losses in rain-fed crops for forage production in the State of Sinaloa. The main crop affected is forage sorghum, but the losses for this crop have not yet been estimated. In the state, approximately 200,000 ha of rain-fed forage are cultivated, 50,000 of which are sown using seed donations by the government. (CNC; SAYG)
Recovering after going through a severe period of drought, Panama Canal expects a record revenue of US$ 5.6 billion in the 2025 FY, according to the budget approved on August 27th by the country’s Congress. It is estimated to contribute US$ 2.8 billion to the country’s Treasury, a record amount. (Autoridad del Canal de Panamá)
Rainfall for September should be lower than expected, however, favorable precipitation for planting should happen at the end of the month, between September 21st and 30th. The estimate reinforces the need to be aware of the rainfall regime before and during sowing, to avoid damages to production. (Inbio)
Agricultural exports are expected to exceed US$ 11.5 billion by the end of 2024. These figures are driven by the wide variety of exported products, such as grapes, blueberries and avocados. In 2023, the country had a record US$ 10.54 billion, an increase of 2.9% when compared to 2022. (Midagri)
In 2024, Peruvian coffee exports reached 52 countries, with exports of 101,898 tonnes. In 2023, around 155 thousand tonnes were exported, to the USA, Germany, Belgium and Colombia. (Senasa)
In 2023, 2.114 million L of milk were sent to the industry, according to a report from the Agrarian Statistics Office of the Ministry of Livestock, Agriculture and Fisheries. Of the total, 94% of the milk was industrialized. Powdered milk is the most important product in the chain, with a total production of 179 thousand tonnes. (MGAP)
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