February 8, 2012

Paraguay's soy production likely to drop 47%

           
                                                  
Paraguay exporters say that soy production is likely to fall 47 % in the current harvest.

The nation's chamber of cereal exporters says the 2011-2012 harvest is likely to be roughly half of the 8.3 million tonnes produced in the previous season.

Technical adviser luis Cubilla says that means a loss of US$1.5 billion.

Cubilla says dought has cut production per acre (hectare) to a little more than half the normal and some soy farmers of Brazilian descent have been unable to plant due to clashes with landless workers.

Paraguay is the third-largest soy producer in South America, behind only Brazil and Argentina.