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Argentina, one of the world's largest grain producers and exporters, lost $ 5.895 million in soybean and corn exports last year because Severe drought in its agricultural areas, according to a report released Thursday. by the Bolsa de Cereals of Buenos Aires
"This 2017/18 campaign, the raw product of the soya and corn chains will be 23 percent below the level that could have been reached without the bad weather" announced the entity.
According to the report "Campaign 2017/18: Update of the economic impact of drought", prepared by the Economic Research Department of the Grain Exchange and made public Thursday "doubled in relation to the Previous badysis ", which was carried out in March
" This is not only explained by the decrease in the estimate of soybean production and its impact on milling, but also by The drop This is due to international prices since the publication of the previous calculation, which reduced the compensation by the prices, "says the document.
The most affected sector is primary production, which represents losses of $ 2,331 million. 19659003] The corn harvest will suffer, as a result of the fall in production, an adjustment of grain exports, which would reach 21 million tons, 25% less than forecast in the 2017 campaign / 2018.
"Due to Argentina's strong participation in international markets, given the decline in production, the market reacted with significant increases for oilseed complex and corn products" .
For soybean, which remains the main crop in the south of the country, it would reach 34.3 million tonnes, which means it would be 8.7 million tonnes.
The paper denounces that the periodicity and magnitude of the unfavorable climatic impact in a sector as important as this for the country's economy, "show the need to conceive and implement a comprehensive strategy for agricultural risk management. "
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