Analysis of the current situation of Peruvian soybeans in 2024

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In 2024, soybean production in Mato Grosso faces serious challenges due to weather conditions. Here's a look at the current status of soybean production in the state:
1. Yield forecast: The Mato Grosso Agricultural Economic Institute (IMEA) has lowered the soybean yield in 2024 to 57.87 bags per hectare (60 kg per bag), a decrease of 3.07% from last year. Total production is expected to be lowered from 43.7 million tons to 42.1 million tons. Last year the state's soybean production reached a record 45 million tons1.
2. Affected areas: IMEA specifically pointed out that in 9 areas in Mato Grosso, including Campo Nuevo do Pareis, Nuevo Ubilata, Nuevo Mutum, Lucas Doriward , Tabaporang, Aguaboa, Tapra, São José do Rio Claro and Nuevo São Joaquim, the risk of crop failure is considerable. These areas account for approximately 20% of the state's soybean production and could result in a total production loss of more than 3% or 900,000 tons1.
3. Weather impact: IMEA emphasized that the soybean harvest faces severe challenges due to insufficient rainfall and excessive temperatures. Particularly in the Tapla region, soybean harvests may decline by up to 25%, with losses exceeding 150,000 tons of soybeans1.
In summary, soybean production in Mato Grosso will be significantly affected by adverse weather conditions in 2024, leading to downward revisions to production and yield expectations. In particular, some areas face extremely high risks of harvest failure, indicating the severe situation of the current soybean harvest.


Post time: May-11-2024