Because of forecasted dry weather the Rosario Grains Exchange anticipates a lesser wheat crop in Argentina for the 2022/23 season. The Exchange projects Argentine wheat production to decline to 19 million tons, down from a record the 22.1 million tons in 2021-22, as a La Niña weather pattern is expected to reduce rainfall in the coming months.
Brazil had anticipated a bumper corn crop this year after drought ravaged the country’s soybeans just months ago and its corn a year ago, but dry weather again threatens to curb the potential of its second crop.
World food commodity prices decreased in April after a large jump the previous month, led by modest declines in the prices of vegetable oils and cereals, the Food and Agriculture Organization of the United Nations (FAO) reported.
Soybeans, corn, sugar, coffee, beef, pork, and chicken are the main goods in Brazil’s export portfolio, and should benefit from the current 'food inflation' in world markets until probably 2023, says analyst Elizabeth Johnson from the TS Lombardy consultancy.
Argentina's opposition leaders of the Juntos por el Cambio (JxC - Together for Change) took center stage during Saturday's tractorazo (tractor caravan) towards Buenos Aires' Plaza de Mayo with which rural producers protested against several measures from the administration of President Alberto Fernàndez which were detrimental to them.
Argentine rural producers are planning to stage a tractor convoy parade Saturday onto Buenos Aires' Plaza de Mayo in front of Casa Rosada to protest against several measures by the administration of President Alberto Fernández which have seriously affected them.
Some 600,000 tons of fertilizer, 50% of which potash and of Russian origin were on their way to Brazil during the first week of April. Despite almost two months of war, the flow of Russian fertilizer to Brazil continues, according to consultancy StoneX.
President Jair Bolsonaro Monday acknowledged Brazil's role amid increasing global food insecurity as he met with the World Trade Organization (WTO) Director-General of Ngozi Okonjo-Iweala of Nigeria in Brasilia.
Brazil during March exported 203,490 tons of beef, up 28% year on year, and the UN Department of Agriculture anticipated that the country is projected to become once again the largest beef exporter in 2022., with shipments 12,1% higher than in 2021.
The heads of the World Bank, the International Monetary Fund (IMF), the United Nations World Food Program (WFP) and WTO issued a joint statement on 13 April urging coordinated action to help vulnerable countries address growing threats to food security. The proposed actions include providing emergency food supplies and deploying financial support to households and countries, facilitating unhindered trade, and investing in sustainable food production and nutrition security.