According to information from the Buenos Aires Cereals Exchange (PAS), Argentina's sunflower harvest in the 2023/24 cycle achieved results historical, both in terms of cultivated area and productivity and revenue. Producers planted 2.05 million hectares, which represents an increase of 10.8% compared to the previous campaign, making this harvest the second largest planted area in the historical series. This advance was mainly due to expansion in the Santa Fe regions, in addition to the central and western areas of the Argentine agricultural zone.
Record productivity boosts revenue and exports
The weather conditions were quite favorable during the critical period of crop development, with good water availability and without the influence of the months of greatest thermal and water stress that usually occur in the summer. Despite some storms recorded in the final stretch of the cycle, the national average yield reached 23.4 bags per hectare (qq/Ha), surpassing the previous record of 22.2 qq/Ha recorded in the 2014/15 harvest, thus establishing a new historic productivity milestone for the country.
The excellent performance in the field resulted in total crop production reaching 4.7 million tons. This volume is also a record and represents an increase of 30.6% compared to the previous crop, which had ended with 4.6 million tons. This robust growth has a direct impact on the economy of the neighboring country. Argentina is expected to receive 53% more revenue compared to the previous cycle, totaling US$$ 2.042 billion.
Furthermore, the increase in production and foreign shipments will result in tax revenues of US$1.5 billion. This figure represents an increase of US$1.5 billion compared to the previous harvest. Exports of sunflower and its derivatives are also expected to reach US$1.5 billion. This amount is US$1.5 billion higher than the previous cycle, further strengthening the Argentine agribusiness trade balance.
Source: Letícia Guimarães | agrolink
