Argentine farmers close deals for 31 mln tonnes of 2020/21 soy
Farmers in Argentina have sold 31 million tonnes of soybeans from the 2020/21 season after transactions for 464,200 tonnes were recorded over the last week, the Agriculture Ministry said on Tuesday in a report with data updated through Sept. 29.
The pace of sales was slower than that of last year, when by the same date sales of 32.7 million tonnes of the oilseed had been registered, according to official information.
Argentina’s 2020/21 soy harvest ended in June at 43.1 million tonnes, according to the Buenos Aires Grains Exchange, which estimated the 2019/20 harvest at 49 million tonnes.
Foreign exchange from agricultural exports is essential for the recuperation of Argentina’s battered economy.
Sowing of Argentina’s 2021/22 soybeans starts this month. The Exchange expects a 2021/22 harvest of 44 million tonnes.
Source: Reuters (Reporting by Agustin Geist; Writing by Hugh Bronstein; Editing by Jan Harvey)