Uruguay 2014 Soybean Harvest Will Set Another Record

Patrick Archer agribusiness, competitiveness, foreign investment, real estate, uruguay

Soybean farmers in Uruguay are planting 250,000 more acres (100,000 hectares) of soybeans this year in anticipation of the country’s largest soybean harvest next year.

In total, Uruguay farmers are expected to plant a total of 3.33 million acres (1.35mm hectares) of soybeans which would be an 8% increase over last year’s planting, according to the Business Regulation & Statistics Division of the National Seed Institute (INASE).

In an interview with El Pais’ Pablo Beson, the Director of the Uruguay Direct Sowing Association (AUSID) attributes the growth in soybean planting to two factors: money and double-cropping.

Soybeans are now the crop that offers the highest profit for Uruguay farmers thanks to strong global demand and high prices. The second factor is the increase in the number of acres of soybeans being planted as a rotation crop.

The importance of soybeans to Uruguay’s economy is reflected in the percentage of all land in Uruguay planted with soybeans: 7.6% (3.33 million acres/43 million acres) compared to 3.2% (77 million/2.43 billion acres) in the United States, the world’s largest producer and exporter of soybeans.

Originally, soybean farming was concentrated in Western Uruguay near the Uruguay River, but today soybean farming is taking place across the entire country. (Full Story in Spanish)

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