South American soybeans area and production to hit record, says consulting firm

The first survey conducted by Datagro consultancy for the 2022/23 soybean harvest in South America estimates production of 219.34 million tons (t).

If confirmed, it would mean a 21% increase over the 181.95 million tons of the frustrated 2021/22 season.

For the area, 66.09 million hectares (ha) are forecast, a 3% increase over the 63.87 million ha of the revised 2021/22 harvest. It would set a new historical record and the sixth consecutive increase if confirmed.

“For average yields, the initial projection considers relative normality in the weather, but again with heavy uncertainties due to the probable consolidation of the La Niña phenomenon,” says economist and research leader at the company, Flávio Roberto de França Junior.

According to him, although a new substantial increase in production costs is expected, there are positive signs of maintenance of the use of inputs in the assembly of the new season.

The initial production potential in Brazil, the largest global producer of oilseeds, is 151.83 million tons, a 9% increase over the record 138.82 million tons recorded in the 2020/21 harvest.

It is projected to be the 16th consecutive year of increase in soybean area, from 41.80 million hectares to 43.03 million hectares.

Preliminary figures for Argentina indicate a recovery in the planted area after two consecutive years of decline, from 16.20 million ha to 17 million ha.

If the weather is favorable, the harvested area could be 16.55 million ha, compared to 15.70 million ha in the 2021/22 season.

The production potential is 49.65 million tons, representing an increase of 14% over the current crop.

OTHER COUNTRIES WITH LESS SOYBEAN PRODUCTION

Regarding Paraguay’s area, Datagro estimates 3.80 million hectares against 3.76 million hectares in 2021/22; the production, considering the regular weather, should be 10.92 million tons in the sum of the summer and winter crops against 4.95 million tons in 2021/22.

The survey indicates that the area may reach a new record for Bolivia, increasing from 1.45 million ha to 1.49 million ha; production is estimated at 3.50 million t, 3% above the current crop.

For Uruguay, an area of 1.22 million hectares is projected, an increase of 5% compared to 2021/22. The production potential is forecast at 3.43 million tons, 4% higher than the current year, which would also be a new historical record.

With information from Canal Rural

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error