Corn to surpass soybean production this year, says Argentina
For the first time in two decades, maize production in Argentina will surpass soybean production this year, the government has predicted.
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Analysts say corn production has picked up as its price per ton has risen. Last month, a ton of corn came brought in US$160, compared to an average of US$151 over the past five years.
Corn crops are subject to a levy of roughly 10 percent, introduced by the government in 2018 following the severe devaluation of the peso. Excluding supplies and costs, the gross margin for corn crops is around US$400 per hectare, Noticias Argentinas reported Friday. Prices vary according to which region of the country.
SOY HARVEST DELIVERS RECORD YIELDS
After last year’s devastating drought, soybean yields in Argentina’s famous pampas agricultural belt registered an average of 3.36 metric tons per hectare this season, analysts from the Buenos Aires Grain Exchange led by Esteban Copati announced in their weekly report this week. That is a full six percent more than the previous maximum.
According to analysts, producers and plants benefitted from good levels of humidity during the season. Last year’s harvest delivered only 35.1 million tons, with around 55.6 million tonnes produced this year.
The sowing of wheat in damp fields was also delayed, though there was a good climate in July when the plants traditionally begin to grow, which would deliver a better crop than expected.
The stock market currently foresees a record of 20.6 million tons of wheat.
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