Uruguay's soy beans coming crop will have increased 100.000 hectares, reaching between 1.3 and 1.35 million hectares, a new record according to the latest report from the National Seeds Institute, Inase. This compares with the 1.2 to 1.25 million hectares of the last crop.
We are confident that based on the availability of seeds, the area to be planted with soybeans should reach 1.3 to 135 million hectares, and a new record said Nicolas Abreu, head of Inase's stats office.
Soy is taking root as the most profitable crop, despite the fact that international prices compared to last year, have been falling because of a greater world production according to Miguel Carbajal, member of the Direct sowing association. We estimate another 100.000 hectares for this crop.
The fact that the profit margin of soybeans have been increasing compared to other summer crops such as corn or sorghum makes farmers chose the oilseed, added Carbajal.
Another factor to take into account is that the rice area is turning to soybeans for rotation purposes and costs, which had been climbing particularly fertilizers are more stable. Nevertheless Uruguayan farmers complain that fuel remains the main challenge.
Fuel in Uruguay is anywhere from 50% to double in neighboring countries, but soy profitability remains strong.
Until last Friday when there still was a week to go, the summer crops sowing plans which, must be registered at the Agriculture Ministry Responsible Soil Management, Office reached 1.338.995 hectares. According to Agriculture officials summer crops should total 1,5 million hectares of which 85% to 90% soybeans.
Uruguay Agriculture Statistics, Diea, indicate that in the last crop, 1.049.700 hectares were planted with soybeans. However private estimates based on the sale of seeds, among other factors, indicate that a more accurate figure is in the range of 1.2 million hectares.