Paraguay’s Agricultural Success Story: A Closer Look at the 2023/24 Soybean Production
In the heart of South America lies Paraguay, a landlocked country that has emerged as a powerhouse in soybean production. The numbers speak for themselves: 3.65 million hectares of soybeans planted, 11 million tons harvested, and a staggering $4 billion generated for the economy during the 2023/24 harvest season. This success story is a testament to Paraguay’s growing influence in the global market, positioning itself as one of the top producers and exporters of soybeans.
Key Points of Paraguay’s Soybean Production:
- The average yield of 3,000 kilos per hectare showcases the efficiency and productivity of Paraguayan farmers.
- The soybeans were exported to primary destinations such as Argentina, Brazil, and Russia, with 7.8 million tons already shipped by November.
- Paraguay currently has access to 56 markets, with active efforts to secure new opportunities amidst evolving trade regulations, particularly in the European Union.
Sonia Tomassone, Capeco’s Foreign Trade Advisor, sheds light on the strategic position of Paraguayan soybeans in global trade. While direct exports to the EU are limited, Paraguayan soybeans play a significant role in the soybean oil and meal industry of Argentina, tapping into the competitive bean crushing sector. This indirect presence highlights the interconnected nature of the agricultural market and the importance of leveraging partnerships for mutual benefit.
Beyond Soybeans: Maize and Wheat Production
While soybeans take the spotlight, other crops like maize and wheat also contribute significantly to Paraguay’s agricultural landscape. Maize cultivation on 750,000 hectares yielded a total production of 3.185 million tons, with an impressive average yield of 4,450 kilograms per hectare. On the other hand, wheat production on 370,000 hectares resulted in 1.1 million tons, primarily catering to domestic consumption needs.
Conclusion:
Paraguay’s soybean production in the 2023/24 season stands as a remarkable achievement, demonstrating the country’s agricultural prowess and economic growth. As the industry continues to evolve and face new challenges, the collaboration between government initiatives, trade organizations, and farmers will be crucial in sustaining this success. Paraguay’s journey from landlocked nation to agricultural powerhouse serves as an inspiration for nations looking to harness the potential of their land and resources for a prosperous future.
