Argentina's Agriculture exports are expected to drop by US$ 14,000 million due to the recent drought, according to projections from the Buenos Aires Grain Exchange released this week in Buenos Aires. The new figures might have an impact on the country's Gross Domestic Product (GDP) of between 1.1% and 1.8%.
The American Farm Bureau Federation (AFBF) and John Deere & Co. signed a memorandum of understanding (MOU) on Sunday, putting an end to a long litigation. The tractor factory has agreed to give its US customers the right to fix their own equipment. Previously, farmers were only allowed to use authorized parts and service facilities rather than cheaper independent repair options.
The Brazilian food processing corporation Marfrig announced that it started to process organic meat at its unit located in Hulha Negra, in Rio Grande do Sul, (Southern Brazil) with raw material coming from the company’s plant in Uruguay.
Brazil provides 20% of the world’s cotton supply, making it the second largest cotton exporter in the world. Cotton represents Brazil’s seventh-largest export product in terms of value: in the market year 2021/2022 alone, 1.68 thousand tons were exported, generating more than USD 3.2 billion in cash. The stats were supplied by the industry association Abrapa.
Chinese authorities authorized 27 Uruguayan companies to export frozen bone meat cuts in what Montevideo dubbed an achievement that strengthens the relationship between the two countries.
Bad and good news from Argentina. Wheat exports are expected to hit their lowest point in eight years because of climate effects, especially La Niña ravaging the country’s crops for the third consecutive reason, points out the Rosario Grains Exchange (BCR)
Paraguayan pork exports are looking at a brighter future for 2023, according to various positive developments on various fronts over the past few months, it was reported in Asunción.
United States beef exports to East Asia in 2022 broke the record reached last year, both in volume and value, according to a report by the US’s Department of Agriculture (USDA).
The Argentine wheat crop, 2022/23 is again suffering the consequences of a prolonged drought and lack of sufficient rain, which means that the overall estimate volume has again been reduced by 300,000 tons to a total of 11,5 million tons, according to the Rosario Grains Exchange.
Brazilian agribusiness exports should reach a record US$ 160 billion this year, which represents an increase of 32% compared to 2021, and a number that also was surprisingly high last year. But on the other hand input imports have never been so costly because of the international prices with inputs reaching almost US$ 50 billion, up 51% year to year.