Author: News Room

In a hyperinflationary economy, Adecoagro showed its third quarter results

(Photo: Adecoagro leadership in the inauguration of its biogas facility in Santa Fe province) Buenos Aires, November 20th. Last Friday 16th, Adecoagro (“AGRO” ticket in the NYSE) exhibited its III Quarter financial results, closed at September 30th. Total sales accumulated in the first nine months reached US$550 million, versus 658 millions in 2017. But operational profit before financing and taxation jumped from US$81 million to 163 million this year. Based in Brazil, the “Sugar, Ethanol and Energy” is the largest business segment for the company, accounting 65% of the total sales or US$356 millions. The sales of ethanol reached...

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HarvXtra alfalfa will commercialize next autumn in Argentina

(Photo: Angel Pacheco, chairman of Agvance, local dealer of WL Alfalfa brand) Buenos Aires, November 14th. The low lignin content alfalfa will be release for Argentine famers early next year, the Agvance general manager Angel Pacheco told to the media this week. “We saw a great enthusiasm for the HarvXtra technology, in our meetings with the farmers. We are very proud to collaborate with Forage Genetic and Bioceres, who worked in the desregulatory process and who will assure that farmers use this technology in a responsible way”, Mr. Pacheco affirmed. “HarvXtra alfalfa also contents the Roundup Ready trait that...

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Adecoagro expects to grow in the dairy business

(Photo: the Adecoagro’s free-stall dairy farm in Santa Fe province) Buenos Aires, November 12th. While its ticket (AGRO) is plunging in the NYSE and shareholders and investors are expecting the results of the 3rd Quarter next November 16th, CEO of Adecoagro Mariano Bosch is saying that the company hopes to grow in its dairy farming operation. Adecoagro is one of the largest farming companies in Argentina and the Mercosur (adding Brazil and Uruguay operation) that had net sales for US$933 million in 2017, a US$125 million operating profit and US$12 million profit after financing and taxation, according with its...

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The IMF standby to Argentina means a big support to President Macri´s Administration

The IMF press office reported that the so-called “board” gave its approval to the “strengthened economic plan” promoted by the Government of Mauricio Macri, for which it resolved to expand from the original US$ 50,000 million to US$ 56,300 million the loan. He also informed that 5,700 million dollars will be available “immediately” for the country, which increases the total disbursements from June to US $ 20.400 million. The agency concluded the first review of Argentina’s economic performance under the 36-month credit agreement approved on June 20, 2018 and extended as of early September. “The authorities have requested to...

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A non-minor question: how much corn is consumed in Argentina?

Buenos Aires, November 06th. Last week a meeting between Agricultural deputy secretariat officers and representatives from local Grain Exchanges took place, to discuss the statistics around the corn production and consumption. Private analysts think that Government officials overestimate both the corn acreage, as the production and domestic consumption. For example, for the Agricultural deputy secretariat, in the 2017/18 season, Argentina planted 9.1 million hectares, produced 43.3 million metric tons, exported 23 MMT (March ’18 to February ’19) and consumed internally 16.6 million metric tons. But for the Buenos Aires Grain Exchange, the country planted 5.1 million hectares and produced...

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Profertil to use renewable energy to produce urea

(Photo: Chairman of YPF, Miguel Gutierrez (left) and general manager of Profertil, Daniel Pettarin, after the firm the agreement) Buenos Aires, November 1st. The local urea producer Profertil agreed with YPF Luz a purchasing contract for the supply electric power from renewable sources. According to the press release, the contract has a 21 years duration and initially, 12% of the urea production will make from this non-contaminant source, to reach 60% of the total production in 2020. “Today, the local legislation forces to use 8% of energy consumption from renewable sources and we start surpasses this mandatory floor”, Profertil...

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Urea imports yet reach record volume

Buenos Aires, October 31st. As we said in our latest post, massive urea imports continued during September. A total of 125,045 tons arrived at Argentine ports, mainly from Egypt and the United Arab Emirates. http://efarmnewsar.com/2018-10-16/massive-imports-of-urea-this-year-including-from-bolivia.html The total imports from January reach 518,639 tons and mark a new record in the history of fertilizers consumption in the country. This volume is well above to the 177,918 tons in 2017 and to the 288,590 tons in 2016. Also, during September, local companies imported 104,747 tons of UAN, the largest volume since October 2016. The largest corn and wheat areas were the drivers...

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Gustavo Grobocopatel, also known as "Argentinean King of the Soybean" conceded an interview to Farm News Argentine. Competitiviness, investments, agriculture in rented lands, were some of the topics addresed. Coming soon...

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