Brazilian farmers will likely plant at least 26.2 million hectares with soybeans in the next crop, up 1.1 million hectares from the current 2011-12 crop, forecaster Agroconsult said Tuesday.
In the last two years inflation in Latin America has stabilized varying between 6% and 7%, according to the latest monthly report from the FAO (Food and Agriculture Organization) regional office.
Uruguay will consult with Iran the possibility of exporting rice in exchange for oil, the government of President Jose Mujica said on Friday.
Food and Agriculture Organization, FAO, opened Monday its Latin America and Caribbean Regional Conference in Buenos Aires which will extend until next Friday when it will announce the issues that will guide FAO actions worldwide.
Chinese State of Administration of Grains revealed that the world's top buyer of soybeans is on course to import 25% more in the first half of this year than the first six months of 2011, which will benefit major producers Argentina, Brazil and US.
Drought over Brazil's southern soy growing states prompted analysts Agroconsult to strike 2.8 million tons from its forecast of the 2011/12 crop to 67.1 million tons from 69.9 million previously.
Argentina’s truckers called Monday an indefinite strike to demand higher pay rates, parking their rigs in protest just as exporters were counting on them to haul freshly harvested soybeans to port.
The FAO Food Price Index rose 1% or 2.4 points from January to February. The Index climbed nearly 2% in January – its first increase in six months. The February increase was mostly driven by higher prices of sugar, oils and cereals while dairy prices fell slightly after a marked rise in January.
FAO forecasts that 2012 world wheat production will be the second highest on record at 690 million tonnes. According to FAO quarterly Crop prospects and food situation report forecast a 2012 wheat crop 10 million tons or 1.4% down from the record 2011 harvest but still well above the average of the past five years.
EU trade ministers agreed on Friday to approve a free trade pact with Colombia and Peru that could boost European car and chemical exports and lift food and mineral exports from the South American countries.