Huge increase expected in soybean sowing area in Argentina

06-Sep-2024 12:07 PM

Buenos Aires. There is a possibility of a huge increase in soybean sowing area in the Latin American country Argentina during the current year as there are signs of a significant decrease in the enthusiasm and attraction of farmers towards maize cultivation. In Argentina, maize sowing starts in September and soybean sowing starts in October.

During the 2023-24 season in Argentina, the maize crop suffered heavy losses due to the severe outbreak of insects and diseases and the producers had to suffer financial losses.

This time too the crop may be affected by this, so the farmers are apprehensive. In view of this, analysts have estimated a decrease in maize production area by about 49 lakh acres in the 2024-25 season and have expressed the possibility of soybean cultivation in this remaining area.

According to the Rosario Grains Exchange, last year the total soybean production area in Argentina was 415 lakh acres, while in the current year it can jump to above 460 lakh acres, which will be the largest area in the last decade.

If the total area of ​​soybean increases by 49 lakh acres, then it will be the highest level of any one season. Earlier, there was a huge increase in the soybean production area of ​​30 lakh acres in the year 2012, 35 lakh acres in 2008 and 47 lakh acres in 2003.

Argentina is the third largest producer and exporter of soybean in the world, while it ranks first in the export of soybean oil and soymeal.

Most of the soybean oil imported in India is from Argentina. During the 2022-23 season, there was a tremendous decline in soybean production there, but in the 2023-24 season, production increased and came back to normal levels. Production is expected to increase further in the 2024–25 season.