MercoPress. South Atlantic News Agency

Paraguay soybean production reaches 11 million tons in 2023/24

The total crop works out at an average yield of 3.000 kilos per hectare, according to the Paraguayan Chamber of Grain and Oilseed Exporters and Traders, Capeco.

The 3.65 million hectares of soybeans planted in Paraguay, produced 11 million tons of the oil bean during the 2023/24 harvest season generating some US$ 4 billion for the landlocked country economy, which is among the top producers and exporters in the world.

This works out at an average yield of 3.000 kilos per hectare, according to the Paraguayan Chamber of Grain and Oilseed Exporters and Traders, Capeco.

Between the main harvest and the second, smaller crop (zafriña), Paraguay produced 11 million tons during the 2023/2024 season, and by November had exported 7.8 million tons of soybeans, with Argentina, Brazil, and Russia being the primary destinations, as detailed by Sonia Tomassone, Capeco’s Foreign Trade Advisor.

Currently, Paraguayan soybeans have access to 56 markets. Capeco has been actively working to secure new markets amid potential challenges exporting to the European Union, stemming from the upcoming implementation of stricter regulations.

Tomassone noted that while Paraguay currently has limited direct soybean exports to the EU, it maintains an indirect presence, as Paraguayan soybeans are used in the soybean oil and meal exported from Argentina and its highly competitive bean crushing industry.

Meanwhile, maize was cultivated on 750,000 hectares, with an average yield of 4,450 kilograms per hectare, resulting in a total production of 3.185 million tons.

As for wheat, 370,000 hectares were sown, yielding an average of 2,880 kilograms per hectare and a total production of 1.1 million tons, mostly for domestic consumption.