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Soybean Planting's Fast Growth in Uruguay

Soybean Planting's Fast Growth in Uruguay

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Published by CCM Intelligence
Soybean planting sees fast growth in Uruguay in these years, according to CCM International’s June issue of South America Crop Protection Monthly Report.
Soybean planting sees fast growth in Uruguay in these years, according to CCM International’s June issue of South America Crop Protection Monthly Report.

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Published by: CCM Intelligence on Jul 05, 2012
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Soybean Planting's Fast Growth in UruguaySummary: Soybean planting sees fast growth in Uruguay in these years, according to CCMInternational’s June issue of South America Crop Protection Monthly Report.Tags:
crop protection, South America, soybean, planting, soybean planting, Uruguayan, priceThe historically high prices moved actively into Uruguayan soybean market again, and this situationattracted the farmers in Uruguay to participate in the soybean planting. In May 2012, in NuevaPalmira, a main grain port in the country, the purchasing price of soybean was as high asUSD540/t. The strong price of soybean in Uruguay happened once in 2008, which was aboutUSD614/t, according to CCM International’s June issue of  
.Recently, in Uruguay, 30% of the soybean has been harvested with a yield higher than expected(above 1.78 tonnes per ha.). This good result is mainly contributed by the effects of late rains inMay 2012. Compared with the situation of Uruguay, 80% of soybean has been harvested in Brazilwith a yield of 2.60 tonnes per ha., but in Argentina, because of the heavy rain hindering theharvesting process during Q2 2012, only 50% has been harvested with a yield below expectation,which is estimated at about 2.39 tonnes per ha."For soybean farmers, it is an excellent opportunity to capitalize and prepare for the next planting in2012/13," said Gonzalo Gutierrez, head of the Agro-business Department from the AgricultureSchool in Uruguay. The strong price of soybean in Uruguay and the promising harvesting result willpromote more Uruguayan farmers to involve in soybean planting. According to a new estimation released by USDA in May 2012, the planting area of soybean inUruguay during 2012/13 will be at the peak of 950,000 ha., 50,000 ha. higher than that in 2011/12.Soybeans are set to establish several records in Uruguay in 2012: it is estimated that Uruguay'sexport value of soybean will be above USD1 billion; meanwhile, it is the first time that soybean willovertake beef as the leading export item in Uruguay in 2012. It is forecasted that soybean's plantingarea will be over one million ha. in 2013/14.In fact, farmers in Uruguay are more and more energetic to plant soybean instead of other crops.On one hand, for the international market, the increasing soybean demand from China boosts theexport volume of soybean in South America, which is one of the main planting areas of soybean inthe world, especially in 2012; Uruguay is expected to export more soybeans to China to meet thesoybean demand because of the decreasing production in Argentina. On the other hand, somedomestic factors drive Uruguayan farmers to be involved in soybean planting.
 
 Firstly, increasing construction of new soybean squeezing facilities and biodiesel plants results inthe increasing soybean demand in the domestic market. In 2007, National Administration of Fuels, Alcohol and Cement (ANCAP) of Uruguay published a law that mandated diesel shall be mixed with5% biodiesel beginning from 2012. Furthermore, the gasoline shall be mixed with 5% bioethanol in2015. Recently, biodiesel is mainly produced from soybean in Uruguay, which means that thedomestic consumption of soybean will be largely increased by the policy enforcement.Secondly, wheat or corn farmers in Uruguay are pessimistic about their profit margin of their produces, because the prices of wheat and corn are not as attractive as that of soybean and themarket outlook is not so promising. "Much wheat remains unsold and market price prospects arenot encouraging as a year ago, when prices were significantly higher," said Gutierrez. In fact, dueto the high storage and the increasing production of wheat, the wheat price becomes unattractivecompared with soybean whose price is at a high level recently. Those wheat or corn farmers prefer to rent land for the soybean production, and even rent land to Argentine for soybean planting.
Source: South America Crop Protection Monthly Report 1206 http://www.cnchemicals.com/Newsletter/NewsletterDetail_256.html 
Content of South America Crop Protection Monthly Report 1206:
 Argentine sunflower to play increasingly important role in global marketSoybean planting's fast growth in UruguayCNA officials visit Chinese ports and hope to improve Brazil portsBrazilian farmers win lawsuit against Monsanto to return royalties paid ANVISA refutes complaint on slow process of agricultural chemicals registrationFederal judge in Brazil maintaining use of MSMAMonsanto shows new technology in Agrobrasilia 2012Dow AgroSciences to launch first five-gene trait stack technologySyngenta and Buck Semillas sign cooperation agreement in ArgentinaUSDA publishes new estimation of soybean and corn production in Brazil and Argentina
South America Crop Protection Monthly Report,
a monthly publication issued by CCMInternational on 30th(31st) of every month, brings you the latest information on new companydynamics, new policies, new market trends, new technology, International trade in the South America crop protection market.

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