The water deficit had a significant impact on the harvested volume of the crop, which is expected to be 70% lower than last year.
The soybean exports would suffer a landslide of more than one 80% in 2023, according to different projections of the producers. The drought, by which the government repeatedly declared and extended the agricultural emergency, hit the harvested volume (so far) of the crop fiercely.
According to the most optimistic estimates, by the end of this harvest about 800 thousand tons are expected of the oilseed, a decrease of 1.9 million tons compared to the 2.7 million tons that totaled in 2022. That is, 70% less.
With a soybean price at just over $491 per ton, and expectations of a decline, the national agriculture would obtain little more than 392 million dollars for grain incomea figure much lower than the 2,170 million dollars (record) that the year 2022 produced.
Yesterday, the price of soybeans in the chicago market fell in line with the falls in corn and wheat, but also due to the few weekly sales reached by the oilseed since USA. The contract values maturing in July 2023 fell 1.8% or $9.92, and the ton quoted at 491.29 dollars.
Uruguay seeks to offset soybean losses with pulp
Faced with the difficulties currently presented by the soybean market, the country continues to bet on the pulp exportsnot only to offset the decline in soybeans, but also in the placement of beef, which, until last month, was the main Uruguayan export product.
In this sense, pulp exports continue to experience monthly increases and reached a total of 172 million dollarswhich represented a 26% increase in the year-on-year comparison. So this product represented 12% of the total exported in 2022.
In the export report of Uruguay XXI of the month of April did not go unnoticed the beginning of operations in the new UPM 2 plant. In this regard, he points out that, once the country’s three pulp mills are exporting, it is expected that this will be the Uruguay’s main export product.
In any case, due to the growth in pulp placements during April and the parallel decrease in bovine meat (they fell 46% month-on-month), the product from paper mills has already positioned itself as the main placement during the past month.
Source: Ambito
