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The projection for 2024 fell below US$30 billion

The projection for 2024 fell below US$30 billion

Added to this panorama of lower production – according to the report – is the drop in international prices of the main Argentine agricultural export products, which have been on a downward path since the beginning of this year.

The volume of agricultural production registers an increase of 60% year-on-year after the historic drought, but the value of the eExports from the sector rise by just 23%, as estimated by the Rosario Stock Exchange.

In fact, considering the five main agricultural complexes (soybeans, corn, wheat, sunflower and barley), the export projection for 2024 It stands at US$29.3 billion.

If exports are taken by commercial campaign and other agricultural products (such as grains and derivatives) are added, the estimate for the 2023/24 campaign reaches US$30.7 billion, an amount that implies a drop of US$800 million compared to the previous estimate.

Fall in export projections: the sector’s explanation

The entity pointed out that although this figure would mean a recovery of US$5.7 billion between campaigns, would also remain below the values ​​obtained in the previous 2020/21 and 2021/22 cycles, as a result of the collapse of international prices.

In addition, he evaluated that after the historic drought suffered during the previous campaign, the return of rains towards the end of last year predicted a strong recovery in grain production for the 2023/24 cycle.

But he warned that the impact of the “leafhopper”” on corn, particularly late corn, cut the production estimate by 50.5 million tons, 11% less than estimated a month ago.

“Although a month ago it was expected that total grain production would reach 137.6 million tons for the new cycle and become the campaign with the second highest production, with this cut in the corn estimate the total volume falls to 131, 1 million, thus remaining below other previous volumes,” indicated the Rosario Stock Exchange.

Corn plantation.jpeg

The impact of the leafhopper on corn, particularly late corn, cut production.

The impact of the leafhopper on corn, particularly late corn, cut production.

To this panorama of lower production -according to the report- is added the drop in international prices of the main Argentine agricultural export productswhich have been on a downward path since the beginning of this year.

Source: Ambito

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