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Brazil trims corn forecast over drought

  • Spanish Market: Agriculture, Fertilizers
  • 09/06/20

Brazil's government today again cut its forecast for the 2019-20 winter corn crop to 74.2mn metric tonnes (t), which would still be a record and 1.4pc higher than the previous year, because of drought.

The latest forecast is down by 2.2pc from last month's estimate as a harsh drought has lowered yields in key producing regions.

Harvesting of the so-called safrinha crop is underway across the country. Acreage increased by 6.6pc from last season to a 13.7mn hectare record, partially offsetting the unfavorable weather impacts.

The southern state of Parana, typically the second-largest Brazilian corn producer, was the most hampered. Its safrinha production is poised to fall by 15.3pc to 11.4mn t, national agricultural statistics agency Conab said today. Mato Grosso do Sul and Sao Paulo are expected to see production fall by 9.7pc and 2.5pc, respectively.

The winter crop accounts for around three-quarters of Brazilian corn output. Considering the already-harvested summer crop, the country is on track to produce 101mn t in the 2019-20 cycle. That estimate is down from 102.3mn t last month but would still mark a 0.9pc increase from the pervious season, Conab said.

Productin in the now-complete soybean season is estimated at a record 120.4mn t, a record. That is virtually flat from May's estimate and 4.7pc higher compared with the 2018-19 season.

Conab estimates a 2.9mn t cotton lint harvest this cycle, stable month-on-month and up by 3.9pc compared with 2018-19. For wheat, it forecasts 5.7mn t, a 10.4pc increase from the last harvest year.

Brazil's total production of grains and oilseeds in 2019-20 is estimated to hit a record 250.5mn t. That compares with 242.1mn in 2018-19, according to Conab.

Supply and demand

Conab kept its estimate for Brazil's corn exports through 2019-20 at 34.5mn t, but given the lower safrinha harvest the forecast for the cereal ending stocks was reduced to 9.9mn t from around 11mn t last month. Ending stocks in the previous season were also 11mn t.

If accurate, the carryover inventories would be the lowest since 2015-16, when the country faced a drought-borne crop failure.

There were no changes for soybean and cotton lint export estimates at 77mn t and 1.7mn t, respectively.


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22/11/24

Bangladesh issues new phosphate tenders

Bangladesh issues new phosphate tenders

London, 22 November (Argus) — Bangladesh's ministry of agriculture has issued a new private-sector tender to buy DAP and TSP, closing on 27 November. The ministry did not specify the total quantities sought but specified that each private importer can offer a maximum of 30,000t of TSP and 40,000t of DAP in the tender. The cargoes offered under the tender are to be shipped by 30 December, and nominated importers must issue letters of credit within seven working days of receiving the work order. The ministry closed a private-sector tender to buy DAP and TSP on 18 November and has probably awarded at least 40,000t of Moroccan DAP at $678.40/t cfr in the tender. It had received offers for 120,000t of DAP at prices ranging from $678.40-711.00/t cfr and 113,000t of TSP at prices ranging from $561.90-585.00/t cfr. BCIC seeks 10,000t of phosphoric acid in tender Bangladeshi state-owned importer BCIC has issued a fresh tender to buy 10,000t of phosphoric acid containing 52-54pc P2O5, closing on 8 January. It wants the cargo to be shipped within 30 days of issuing the letter of credit for delivery to Chattogram. Trading firm Sun International submitted the only offer in BCIC's 20 November tender for 20,000t of the same grade of acid. It offered South African or Chinese acid at $620.87/t cfr (equivalent to $1,150-1,194/t P2O5 cfr), or $530.87/t fob. In its 18 November tender to buy 10,000t of 52-54pc P2O5 acid, BCIC received offers of $1,163-1,213/t P2O5 cfr equivalent. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Indian NP/NPK stocks drop to below 3mn t


21/11/24
21/11/24

Indian NP/NPK stocks drop to below 3mn t

London, 21 November (Argus) — India's domestic sales of NP/NPK fertilizers have continued to outpace both production and imports, leaving stocks below 3mn t for the first time since February 2023. Domestic sales of NP/NPK under the country's direct benefit transfer system amounted to 1.47mn t in October, up by 45pc on a year earlier. Sales from April-October — the first seven months of India's 2024-25 agricultural year — totalled 8.72mn t, up by 23pc on the year. Domestic NP/NPK production rose by 15pc on the year to 867,900t last month, putting April-October output at about 6.25mn t, up by 11pc on the year. NP/NPK imports in October amounted to 183,000t, up by 51pc on October last year. April-October imports amounted to 1.28mn t, down by 10pc year on year. The data imply total NP/NPK stocks in India of about 2.93mn t at the end of October, down by 12pc on the month and down by 15pc on the year. By Nykole King Indian NP-NPK stockbuild mn t Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Elevated nitrate levels found in Iowa water: EPA


20/11/24
20/11/24

Elevated nitrate levels found in Iowa water: EPA

Houston, 20 November (Argus) — The Environmental Protection Agency (EPA) added seven Iowa water segments to its impaired US waters list, saying they are all polluted with nitrate, possibly stemming from nitrogen fertilizer runoff. The EPA added these seven water segments to the list of impaired waters on 12 November, determining each was laden with nitrate pollution. The EPA invoked water restoration plans in partnership with the Iowa Department of Natural Resources (DNR). This is in addition to the 712 water segments in Iowa that are already on the state's list of water segments that need a restoration plan under the Clean Water Act, according to the EPA. The largest contributor to nitrate pollution is manure and commercial fertilizer that runs off farm fields, according Pam Taylor, director of the Iowa Sierra Club Chapter. Nearly 85pc of land in Iowa is farmland, using nearly 149 lbs of nitrogen fertilizer per acre annually,the US Department of Agriculture said. The Iowa DNR initially submitted a list of water segments that need restoration attention on 9 May, which was only partially approved by the EPA. This triggered the agency to place these additional water segments on public notice until 12 December. Once that date has passed, the EPA can implement a restoration plan in partnership with the Iowa DNR. The Iowa Chapter of the Sierra Club is in support of the EPA's decision. It alleged that the DNR purposefully used an incorrect method to determine nitrate pollution, which may have enabled the DNR to excuse certain water segments from the list of impaired bodies. Separately, a letter was also sent to the EPA on 16 April by several Iowa agencies requesting the EPA apply its emergency powers to address nitrate groundwater contamination in northeastern Iowa. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Cameroon's CNPC-C issues NPK tender to buy


20/11/24
20/11/24

Cameroon's CNPC-C issues NPK tender to buy

London, 20 November (Argus) — The national confederation of cotton producers (CNPC-C) has issued a tender to purchase 32,000t of complex fertilizers, closing on 9 December. The CNPC-C requests 16,000t of 22-23-15+5S+1B and 16,000t of 15-20-15+5S+1B, both in 50kg bags, for delivery on an ex-works basis in Douala on or before 28 February. CNPC-C had opened offers against its 24 October tender to buy 45,000t of complex fertilizers and 12,000t of urea. But there were no valid offers for the 16,000t of 22-23-15+5S+1B it requested. It received five valid offers against its request for 29,000t of 14-23-14+5S+1B or 15-20-15+5S+1B, but is now seeking more competitive offers under the fresh tender. By Nykole King Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Graphjet launches Malaysian biomass-to-graphite plant


20/11/24
20/11/24

Graphjet launches Malaysian biomass-to-graphite plant

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