The international of soybeans and its derivates in Argentina have dropped 32 percent in April considering the annual comparison, according to official data. The reason of this fall was the slow harvest of the oilseed, resulting from the floods in several producing regions of the country. Even through there was a reduction of soybean sales (which account for 20 percent of total exports in Argentina) in the period, the trade balance registered a surplus of US$ 332 million – 32 percent more than last year.
The government of the new Brazilian president Michel Temer seeks to approve a bill that flexibilizes the rules regarding the purchase of land by foreign citizens. Since 2010, foreign citizens just can purchase law with a limit of 12,300 acres. The new government considers the flexibilization of the law a key change for the country’s economic recovery and development.
Argentina’s beef exports in April have reached a value of US$ 90.9 million, which is a jump of over 25 percent comparing to April of 2015. The numbers were released by the Institute of Beef Promotion in the country. The average price of the export are 0.7 percent higher than the previous year. The major purchasers in the period in terms of volume were China, Israel and Chile, but considering the value the largest importers were Germany, China and Israel.
The harvest of the second corn crop in the Brazilian state of Mato Grosso started this week, which is earlier than expected. According to the Mato Grosso Institute of Agricultural Economics (Imea), the harvest already reached 0.37 percent of the planted in the state. Last year, the harvest had just started two weeks later.
Though a minimum volume, it is the first time in history that Argentina will import wheat. Uruguayan company Granosur announced yesterday that will export to Argentina 300 tons of wheat from Paysandu. This export happens because of a lack of quality of the Argentine production this season. Some experts say that these imports are a “test” that could happen in increased volumes from Uruguay.
A new estimate released by consultancy Globaltecnos says that Argentina’s soybean exports will fall by 25 percent and that would mean that the total exports of soy in grains would reach 8.5 million metric tons. This is a result of the losses generated in the province of Santa Fe by the floods. Considering just the raw beans, it would be a 23 percent fall. The same forecast for grains has Gustavo López, director of consultancy Agritrend. But he thinks that there would be just a small drop of processed soybeans exports.
A new estimate says that Argentina’s wheat production could reach 16 million metric tons in this season through a surface increase of nearly 30 percent. The forecast is authored by the wheat growers union Argentrigo. “The exports after the harvest could reach from nine to 10 million metric tons,” said David Hughes, president of Argentrigo, in an interview to Reuters. The USDA forecasts a harvest in Argentina of nearly 14.5 million metric tons and 8.5 million metric tons of exports. A new survey of CREA which interviewed 1,500 farmers says that the surface could jump even more – 35 percent.
According to numbers released today by Céleres consultancy, the 2016/2017 soybean crop of Brazil is about 16 percent sold. At this period of the year, the average sales for the following crop at the previous fiver years was five percent of the total output. The major reason for the sales, evaluates the consultancy, were the barter contracts with the value of the Real kept weak.
According to numbers raised by Scot Consultoria, the corn bag of 60 kilograms costs R$ 49.50 in the location of Campinas, state of São Paulo. Comparing to a month ago, the price has jumped by one percent. But comparing to last year, the increase was 90.4 percent. These higher values are sustained because of dry areas of the second corn crop with a forecast of lower output.
By Luís Vieira
Brazil president Dilma Rousseff was suspended by the Brazilian Senate by 55 votes to 22, condemning her on charges of fiscal mismanagement this Thursday morning after several hours of session. The impeachment was long expected by significant parts of society after over a year of public demonstrations asking for her resignation amid political instability, social unrest, corruption scandals, police operations, and, therefore, institutional uncertainty. Michel Temer, the vice president of the coalition that elected Rousseff, will assume office with the challenge of boosting the Brazilian economy, reducing unemployment, and moderating social anger.
The impeachment will be better for Brazilian agriculture, according to some experts. Most banks and analysts foresee a stronger real in a Temer presidency, but interest rates would be lower and more domestic demand would be seen with the necessary measures for the economic recovery. After having its GDP falling by four percentage points, the gross product of Brazil may fall by over 3% again in 2016.