Argentina: Argentina’s soy and corn crops have been blighted by a four-month-old drought. According to the February report from Argentina’s board of trade (BCR), soy production for 2017/2018 harvest will fall to 46.5m tonnes (down 5.5m tonnes on January estimates) and maize production will fall to 35m tonnes (down 4.9m tonnes on January estimates). Argentina’s agroindustry minister, Miguel Etchevehere, has said it is too early for the government to quantify the economic losses from the drought but admitted the country will suffer some losses. “It is too soon to put a figure on it. There were fewer crops this year, but [maize and soy] prices have also recovered by 10%”, he told local broadcaster
Radio El Mundo.
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