While Argentina week by week cuts the harvest estimates, which is among the worst in 15 years, Brazil maintains the forecasts of what will be a record campaign with a strong impact on prices.
Adverse weather conditions hit the main producers in the region in different ways. Together, between Brazil, Argentina and Paraguay, a soybean production of 197.4 million tons is estimated, the highest in history according to private calculations.
Of that total, without discounting the effect of the high temperatures of the last few days, Argentina will only produce 33 million tons, about 20 million less than what the first estimates predicted (55 million tons). In foreign currency income, the fall in productivity represents between 13 and 15 billion dollars less for the Central Bank, through the agro-export complex and a strong blow to the collection of the AFIP from Export Duties.
While the Economy debates what will be the opportune moment to launch a new soybean dollar, according to specialists and producers in the agro-export sector, this year Argentina will not be “saved” by the “price effect” that helped achieve a record foreign exchange income in 2022 The great safra that is taking place in Brazil not only absorbs the loss of the local harvest, it exceeds it.
