Argentina’s Agriculture and Livestock minister Julian Domínguez and representatives from the cereals and oilseed markets coincided that Argentina will have a record crop this 2010/11 season and considerable export surplus of wheat and corn: 5.5 million and 18.5 million tons respectively.
The area sown with sunflower in Argentina is forecasted to increase 24% this coming 2010/11 season reaching 1.62 million hectares according to Argentina’s Sunflower Association (Asagir) and based on data from the Buenos Aires Cereals market.
Interest in fixed assets, strong commodities’ prices and growing prospects that global demand for food producing land will continue have generated a new rush of foreign investors to buy land in Uruguay.
Land purchases by foreign investors in poor countries and the growing use of bio-fuels are boosting pressures on agricultural farmland and helping make 500 million small farmers hungry, a U.N. envoy said this week.
Argentina and Brazil are negotiating an alliance with other South American producers of grains and oilseeds to deal jointly with buyers in Asia and elsewhere, according to Brazilian Agriculture Minister Wagner Rossi.
China has bought at least 70,000 tons of Argentine soybean oil after Beijing decided to unlock the imports ban that had resulted in a mounting-tension conflict. The move came after China agreed to allow all products coming from Argentina to enter its ports and was reported by Oil World magazine.
United States farm exports may surpass a 2008 record of 115.3 billion US dollars on surging corn, soybean and wheat prices, according to Joe Glauber, the US Department of Agriculture’s chief economist.
The combination of policies from the Argentine presidential Kirchner couple and scarce rainfall have had devastating consequences for agriculture and livestock breeding, claimed Hugo Luis Biolcati president of the Argentine Rural Society, SRA, the country’s strongest farmers’ lobby.
The countries of Central and Eastern Europe and Central Asia have vast untapped agricultural resources and can play a vital role in improving world food security, the FAO and EBRD (European Bank for Reconstruction and Development) said at the opening of a two-day meeting in Istanbul this week.
China’s two largest state-owned grains and oilseeds trading companies to import soybean oil from Argentina, easing restrictions imposed in April. Beijing-based Cofco Ltd., China’s biggest grain trader, and China Grain Reserves Corp. have been cleared by the commerce ministry to import soybean oil from Argentina.