Due to drought, economic losses rise to about 6,000 million dollars

According to the Bolsa de Cereales of Buenos Aires, the economic losses caused by the drought will reach $ 5,895 million between the fall of the value added the exports and the collection of the taxes of the chains of soybeans and corn in 2018.
The entity issued a document on March 22, which provided 32 million tonnes of corn and 39.5 million tonnes of soybeans . But these figures were updated on the basis of new conditions of international production and prices.

It happens that in the last three months the drought was accentuated and was followed by excess of water which altered the health of the batches and delayed the harvest . In contrast, prices have not increased to the level required to offset losses.

"The Gross Product of Agricultural Chains will present a drop of $ 5,895 million value-added this season (0.86% of Argentine GDP) In terms of exports net, the losses would reach 5.374 million dollars said the grain exchange of Buenos Aires, according to Clarin.
For its part, the Agricultural Weekly Outlook (PAS) prepared by the entity predicts that corn production for the 2017/18 season remains at 32 million tonnes , while that of soybeans fell to 36 million tons.
This means losses of 22% and 33 %, respectively, compared to estimates before the start of the campaign. "In total, lost 27 million tonnes of coarse grains," the report says.
In addition, the entity concluded that Argentina will reduce its growth 0.9% because of the drought which also translates into a low of the collection of $ 1,735 million compared to the expectations of the campaign for export cuts.