SunSirs: Argentina's Corn Production is Expected to Decrease by 3.5 Million Tons in 2022/23
February 28 2023 10:27:34
BAGE said that as of the week of February 22, Argentina's corn harvest work was concentrated in Santa Fe and Entrelios provinces, and the unit yield of early-sown corn was still lower than originally expected. Therefore, this week, Argentina's corn production forecast for 2022/23 was lowered to 41 million tons, 3.5 million tons lower than the 44.5 million tons expected earlier. Although the yield was reduced, the impact of the frost in February on the yield potential of late-sowing corn remained to be evaluated.
If the new forecast comes true, it will be 11 million tons or 21.2% lower than the 52 million tons in 2021/22.
BAGE estimates that Argentina's corn planting area will be 7.1 million hectares in 2022/2023, a decrease of 0.6 million hectares or 7.8% from 7.7 million hectares in the previous year, because the weather and drought will affect the planting.
In its supply and demand report on February 8, the US Department of Agriculture lowered the forecast value of Argentine corn in 2022/23 by 5 million tons, from 52 million tons previously expected to 47 million tons, lower than the previous year's output of 51.5 million tons.
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