With the lowest wheat area in 111 years, Argentina expects a 2009/10 crop of 7.5 million tons, the worst in the last 32 seasons, which means exports, --and tax revenue--, will be ten times less than the 2007/08 crop according to the Argentine Rural Society Economics Department.
Argentina’s farmers will be investing 4.878 billion US dollars in the 2009/2010 crop season which represents a drop of 32.6% compared to the previous cycle according to different farmers organizations quoted this week in Buenos Aires media.
The United Nations Food and Agriculture Organization said on Thursday major investment needs to be made in developing world agriculture. The FAO says that with rapid population growth and changing diets, agricultural production will need to grow by 70% before 2050.
Rice stockpiles of the world’s five largest exporters are forecast to plunge by a third to the lowest level in five years, and below last year when prices surged to a record, according to Concepction Calpe, senior economist at the UN Food and Agriculture Organization.
Chilean dairy farmers on Wednesday expressed satisfaction with the government’s decision to impose safeguards on powder milk (whole and skinned) and Gouda cheese from Argentina and Uruguay.
Brazil expects the coming 2009/2010 grains crop to reach 141.1 million tons, which represents an increase in the range of 2.9% to 4.8% over the 2008/09 record harvest of 135.16 million tons, according to the country’s National Supply Corportion, Conab.
Uruguay’s farmland dedicated to soy beans could establish a new expansion record this coming summer: 700.000 hectares. This included the 540.000 currently with wheat and other winter crops.
Hundreds of farmers protested Monday in Brussels to put pressure on European Union (EU) agriculture ministers meeting to discuss low milk prices. The talks came after weeks of protests across Europe, with farmers dumping milk stocks and withholding supplies at what they see as uneconomic prices.
Argentine president Cristina Fernandez de Kirchner took the oath on Thursday to lawmaker Julian Dominguez at the helm of the newly created cabinet post of Minister of Agriculture, Fishing and Livestock, one of the more conflicting areas of her administration.
The United States Congress has agreed to provide 350 million US dollars to struggling dairy farmers following a compromise during negotiations on a 23.3 billion USD agriculture bill.