The soybean crisis, more land for less product
As ANSA reports, the hectares cultivated with soybeans are increasing by 10% but the 2021 production is reduced by about 100 thousand tons. This was announced by Cai, Consorzi Agrari d'Italia on the basis of the threshing data that has now come to an end in the most productive areas. In 2021, the areas allocated to soybeans rose to over 350 thousand hectares, compared to almost 320 thousand hectares last year. The increase in cultivated fields has mitigated the very low yields that have led production to stop at about 1 million tons of soybeans, down 5% compared to 2020.
Prices, on average with other cereals, says Cai, are up by 54%, with the latest listing on the Bologna Commodity Exchange that stands at around 595 euros / ton, well above the 385 euros / ton recorded last year (source ANSA: https://www.ansa.it/canale_terraegusto/notizie/mondo_agricolo/2021/10/14/soia-10-le-superfici-coltivate-ma-cala-la-produzione_aeb6c4c3-0011-4b49-8a9b-b5f6214cae67.html).