So far, everything suggests that the Buenos Aires entity will execute a cut to 36/38 million tons in the medium term, thus approaching the projections currently established by the Rosario Stock Exchange.
On the other hand, the rains of the last few days put a brake on the deterioration of second-rate soybean fields in the center of the agricultural area. To date, 56.1% of the second-rate soybean area reports a poor/regular crop condition and the central-eastern area of Entre Ríos is the most affected region.
“New rainfall will be necessary to avoid additional losses to those already expected, while large sectors will begin their critical period in the coming weeks,” they detail from the entity. The truth is that so far, according to the forecasts, a new round of rainfall is expected this weekend, of moderate intensity, which could also add a little more relief to crops, especially in the core region.
As for corn, after a week-on-week advance of 2.5 points, sowing reaches 96.5% of the area. In this case, as a result of the drought, the new production projection for the 2022/23 campaign stands at 44.5 million tons, according to the Grain Exchange. This volume represents in absolute numbers 7.5 million tons less than those collected the previous season, which reached 52 million tons). Much of this decrease is located in the provinces of Santa Fe, Entre Ríos and Buenos Aires.
relief for growers
In this context, the Board of Directors of the Central Bank implemented measures to favor the financing of the productive sector affected by the drought, which include more flexible terms for the determination of default and the possibility of accessing subsidized credit lines, measures that They were announced by the Minister of Economy last Tuesday and they began to take effect this Thursday.
Specifically, from now on and seeking to provide relief to the sector, agricultural producers affected by the Agricultural Emergency Law will have more flexible deadlines until December 31 of this year in counting the arrears to consider their credit situation, according to what is established in the regulation on Classification of Debtors.
The new norm adds 45 days to the first three categories of debtors to relieve agricultural producers. The treatment provided within the framework of this provision may not imply an improvement in the classification assigned to the client based on their individual situation, prior to the declaration of emergency, nor may its application extend beyond the validity period established for it. In addition, producers declared in emergency who have sold their soybean holdings will be able to access all credit lines offered in the financial system.
Source: Ambito
