Argentina farmers could plant about 16.8 million hectares of soybeans in the 2023/24 season, up 3% from 2022/23 MY. This forecast was released by Safras&Mercado. They also expect to increase oilseed production in the country in the new agricultural year by 130% to 48.5 million tons.
According to experts, Buenos Aires, Cordoba, Santa Fe, Santiago del Estero and Entre Rios will harvest the most soybeans.
“After one of the worst campaigns for Argentina soybean, a significant recovery in yields and production is expected,” Safras&Mercado explained.
The regions most affected by the drought in MY 2022/23 will be able to return to their previous performance in the coming months, analysts are confident. These include Buenos Aires, Cordoba, Santa Fe, Entre Rios and La Pampa.
“On the other hand, in the northern regions of the country, there may be a decrease in planted areas, which will lead to a decrease in the productivity of production,” summarized the experts.