The contribution to the economy of the 2022/23 wheat campaign that has just concluded will fall 36% compared to last year and will reach US$ 3.7 billion as a result of the high impact of the drought during the productive cycle, estimated this Tuesday the Grain Exchange of Buenos Aires (BCBA).
The decline in the so-called Gross Agricultural Product (PBA) occurs as a consequence of a 44.6% drop in production compared to the previous season, equivalent to 10 million tons less.
Before this panorama, and with only 5.9 million tons of wheat to ship compared to 15.34 million last yearThey wait income from exports 55% lower than last season, for US$ 2,300 million, while tax collection via export duties would fall US$500 million, to US$1,000 million.
?National production stands at 12.4 MTn, the lowest since the 2015/16 campaign (2015/16 campaign production: 11.6 MTn), being 10 MTn below the previous production cycle. More info in 2022/23???https://t.co/ZhXIJws1CJ#WheatCampaignClosing pic.twitter.com/uz6TfrM7Qc
— ETyM Cereal Stock Exchange (@BolsadeC_ETyM) January 17, 2023
The main drop in the contribution of the wheat chain to the Argentine economy was due to “the absence of rainfall over a large part of the agricultural area, which conditioned the growth and establishment of the yield components, and the losses generated by repeated frosts in critical stages”, explained the stock exchange.
The national average yield was 22.8 quintals per hectare (qq/ha), a year-on-year drop of 34.5% and 26.6% compared to the average performance of the last 5 campaigns.
Likewise, 6.1 million hectares were planted this campaign, the lowest area since the 2017/18 campaign.
?New document?”Impact of the #drought about the 2022/2023 Campaign”
?️ @BolsadeC_ETyM @INAI_FoundationDownload the full report “Impact of the #drought about the 2022/2023 Campaign”
?https://t.co/PQPgsfvzEdRead it on the Blog #SowingIdeas
??https://t.co/FSE9MJqsCQ— ETyM Cereal Stock Exchange (@BolsadeC_ETyM) January 11, 2023
“In regional terms, the largest interannual falls in the area were reported over the NOA, north-central Córdoba and Santa Fe and south of Córdoba where the lack of surface moisture during the sowing window made it difficult for the seeders to advance, leaving some 600,000 hectares out of the 2022/23 campaign”, explained the entity.
