Argentina annual sugar production projected to fall 1.55m tonnes due to unfavorable weather

ARGENTINA – Sugar production in Argentina is forecast to fall by as much as 1.55 million tons, raw value, due to early season dryness which is expected to negatively impact yields, according to  latest projections by the United States Department of Agriculture(USDA). USDA further projects that the domestic use of sugarcane for ethanol is expected to grow while sugar exports are projected to fall 8% to 220,000 tons largely due to a smaller sugar supply. Meanwhile, Venezuelan sugar production is projected upwards to 190,000 MT In market year (MY) 2021/22.…

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Ingredion expands presence in South America through partnership with Argentina’s Grupo Arcor

ARGENTINA – Global ingredient solutions provider to the food and beverage industry Ingredion has partnered with Argentina’s Grupo Arcor to create a new food ingredients joint venture for the South America region. Arcor is a leading food company in Argentina, the first global producer of hard candy, and the main confectionery exporter in Argentina, Chile, and Peru. It has more than 40 industrial plants with a daily production volume that amounts to 3 million kilograms and brands that are reportedly sold in more than 100 countries worldwide. In a statement,…

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Bioceres Crop Solutions achieves full ownership of soybean biotech firm Verdeca

ARGENTINA – Integrated provider of crop productivity solutions Bioceres has achieved full ownership of soybean biotechnology firm Verdeca following the acquisition of remaining ownership interest from Arcadia. Founded in 2012 as a joint venture between Bioceres and Arcadia, Verdeca develops second generation biotechnologies for soybean and works to globally commercialize HB4 Soy technology. Having assumed full control of HB4 Soy, Bioceres plans to further accelerate the commercialization of this technology by increasing the number of related breeding collaborations and go-to-market partnerships in current as well as new geographies. Full ownership…

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IFC issues US$100m loan financing to Argentine agribusiness company Adecoagro to foster its diary sector

ARGENTINA – IFC, a member of the World Bank Group, is providing a US$100 million loan to Adecoagro, a leading agribusiness company to support the expansion plan in its dairy sector. Adecoagro is a leading producer of food and renewable energy with operations in Argentina, Brazil, and Uruguay. IFC’s financing will support Adeco Agropecuaria, Pilaga and L3N, three Argentine subsidiaries of Adecoagro. It will help foster an innovative, sustainable approach to developing the dairy industry, an important component of the agribusiness sector in Argentina, which is a key economic driver for the country, accounting for 63…

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Glencore Agriculture increases stake in Argentinian food processor Renova

ARGENTINA – Glencore Agriculture has acquired an additional 16.67% in its Argentinian supply chain and processing joint venture, Renova to become the majority owner with 66.67% shareholding in the company. Glencore Agriculture purchased the stake from its joint venture business partner, Vicentin, as part of Glencore’s efforts to further drive growth in the business. Glencore Agriculture Chief Executive Officer, David Mattiske said the company is very pleased to increase its ownership and continue to support Argentinian agriculture. “The Renova assets and the products produced fit well with our business and…

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China reaches soymeal import deal with Argentina as trade talks near

ARGENTINA – The world’s top soymeal producer by volume, Argentina has reached an agreement to export the product to China, marking the first soymeal shipment that Argentina has made to China. According to a report by Reuters, Gustavo Idigoras, president of Argentina’s CIARA-CEC chamber of grain exporting companies, however, noted that the deal is still subject to a two-step process of plant authorizations and then registrations. The deal, which follows decades of talks, is arguably a major breakthrough amid the US-China trade war that has hit US growers. The deal…

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Nestle invests US$11.9m in a new liquid milk line in Argentinian factory

ARGENTINA – Nestle Argentina has inaugurated a new liquid milk production line at its factory located in Villa Nueva, Córdoba province after making investment worth US$11.96 million (CHF 12 million). The new line will enable Nestle start production of liquid milk in added value segments in the Argentinian market. The investment includes a new sterilization plant, state-of-the-art technology, an adaptation for packing line, the renovation of existing boilers and the cold system for the whole plant and a modern and automated deposit. The new production line produces 10 million liters…

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BRF sells Argentine subsidiary Campo Austral for US$35m

USA – The Brazilian meat processing company, BRF SA has sold its wholly-owned Campo Austral business in Argentina for US$35 million, completing its asset sale in the country. The sale involves the facility in Florencio Varela, and all assets and liabilities related to it, including the Bocatti and Calchaquí brands, to Argentine firm BOGS. BRF has also sold 100% of the capital stock issued by Campo Austral, including its facilities in San Andrés de Giles and Pilar, and the Campo Austral brand, to La Piamontesa de Averaldo Giacosa y Compañía.…

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Argentina soybean imports rise on low production estimated at 56M Tons

USA – Soybean imports in Argentina continue to rise with production estimated to be slightly lower at 50 million tons in 2018/19 as a result of the recent drought faced in the country. According to a Dec. 4 Global Agricultural Information Network (GAIN) report from the U.S.Department of Agriculture, Argentina has imported more than 3.5 million tonnes of soybeans in 2017-18, a 135% increase over the previous year. Fueled by drought, lower domestic soybean supplies necessitated a dramatic increase in soybean imports for the crush industry. Recent rain delayed sowing…

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Coca-Cola announces US$1.2b investment in Argentina

USA – The Coca-Cola company has announced a US$1.2bn investment in Argentina over the next three years to 2021, aimed at improving operations and expand production in the country. The new investment adds to the US$1 billion it committed to invest in the country in partnership with its four bottling partners including Coca-Cola Andina, Arca Continental, Coca-Cola FEMSA and Reginald Lee. According to Just-drinks, the investment, announced by the company’s South Latin America unit seeks to enhance expansion and renewal of production lines. Reuters reported that Coca-Cola was one of…

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