Cattle Prices Have Increased More Than 100% Since 2019 in Colombia
Government has announced credit for sheep farming. This is a package with 19% interest rate, a grace period of 1 year and a credit term of 6 years, intended for investment in fencing, water troughs, feeders, machinery, etc. (Government of Argentina)
2024/25 soybean harvest to reach 52 million tonnes, corn 47 million tonnes and wheat 18.6 million tonnes. (Buenos Aires Cereal Exchange)
Corn cost production in Argentina was estimated at US$ 576 per hectare, for the 2024/25 season. This cost is lower than the one calculated for Brazil (US$ 597) and much lower than the cost in the USA (US$ 1,174). Historically, Brazil has the lowest operating costs, but it should surpass Argentina’s costs for the next season. (Itaú BBA; IMEA)
Foreign currency deposits have increased by approximately US$ 8 billion since the start of the new Government in December of 2023. Latest data from the Central Bank shows that total foreign currency deposits now exceed US$ 24 billion. (Central Bank of Argentina)
Corn harvest in the State of Mato Grosso do Sul had the 3rd worst productivity of the past 10 years. Average yield was 67.05 bags per hectare after the record around 95 to 122 days without significant rainfall throughout the second harvest of 2023/24. (Aprosoja-MS)
Eduardo Bastos is the new director of the Institute for the Study of Agribusiness, created by the Brazilian Agribusiness Association. (ABAG)
Total oilseed processing capacity in 2024 reached 72.3 million tonnes, a volume 4.5% higher than in 2023 (69.2 million tonnes). The number of processing companies also increased from 63 to 67 (+6.3%). In addition, investments in the vegetable oil industry for the next 12 months could reach US$ 1.05 billion, with five new crushers and five expansion units planned. (Abiove)
At the end of the 2023/24 season, Brazilian orange juice stocks in the world increased 37.7% when compared to the previous cycle, despite a drop in production, which reached 898.6 thousand tonnes (-5%). The 2024/25 season is estimated to reach 215.78 million boxes of 40.8 kg, a drop of 29.8% when compared to the previous season. (CitrusBR)
The Ministry of Agriculture will provide US$ 549.94 million to purchase tanker trucks to combat fires in agricultural areas. “These trucks have 10,000 L and 20,000 L of water capacity and are equipped with high-performance pumps”, said Carlos Fávaro, Minister of Agriculture. In addition, the minister said there will be the structuring of a new credit line, with “negative interest rates”. (MAPA)
On September 20th, the rule establishing penalties for infractions involving forest fires was reviewed. The start of fires in forests or other native vegetation will be subject to a penalty of US$ 1.821.26 per ha; in cultivated forests, the fine will reach US$ 910.63. (Federal Government of Brazil)
The National Forestry Corporation of Arica and Parinacota reinforces prevention of forest fires and indiscriminate burning of agricultural residues before the spring and the consequent rise in temperatures. “Statistically, one of the months with the highest occurrence of forest fires is December; however, this could change with the arrival of spring if adequate measures are not taken to prevent uncontrolled burning”, said Lino Antezana Navarro, regional director of Conaf. They also pointed out that “unauthorized burning is subject to fines for violating Law 20,283”. (Conaf)
Coffee production is expected to reach 13 million 60 kg bags, an increase of 15% when compared to the previous season. (FNC)
Cattle prices have increased more than 100% since 2019. According to Bbva Research, one factor slowing down the sector has been the strong increase in the relative price of beef in relation to other substitute products, also above the general price basket and people’s income. The Colombian cattle herd is close to 30 million heads, making it the 12th largest in the world, with a significant increase since 2017. (Bbva Research)
At the end of August of 2024, goods exports reached US$ 24.25 million, an increase of 7% compared to the same period of the previous year. The agricultural sector, second in importance for exports and with a share of 19%, grew by 7% (US$ 310.2 thousand), driven by products such as pineapple, banana and watermelon. The food industry (13% share) registered an increase of 5% (US$ 148.5 thousand). (Procomer)
According to a report from the National Water Commission, dams in the country show significant variations in storage levels, amid climate conditions and water management in the main agricultural regions. Colima, Guerrero and Guanajuato have reported levels above 90%. While other regions such as Chihuahua, Sonora and Coahuila have reported concerning levels below 20%. (Conagua)
In 2025, beef exports are expected to decrease 4% when compared to 2024, reaching 450,000 tonnes. The decrease should happen due to lower beef supply, followed by high slaughter in 2024. Exports to the newly opened markets of the US and Canada may increase, and there is a possibility of exports to Mexico in 2025. Production is expected to fall to 560,000 tonnes. (USDA)
Paraguay stood out as the main exporter of soybeans to Brazil in 2024. From January to August, oilseed exports to the Brazilian market reached 781 thousand tonnes, compared to 88 thousand in the same period of 2023. Of this volume, 92% went to industries in the State of Paraná. (Consultoria DasAgro)
READ MORE: