Brazilian investors estimate that a minimum of 50,000 hectares are needed to develop soybean production for the domestic market and export.
This was confirmed by the Deputy Minister of the Ministry of Agriculture and Livestock (SAG), Ramon Escobar, during a meeting between investors and members of the SAG. The mission is composed of representatives of sectors including energy, infrastructure, tourism and agribusiness. "The idea is to plant the legume exploiting the potential of the country."
Honduran producers have negotiate purchase prices for a quintal of top quality white grain from between $9.7 to $9.8 with flour producers.
The current price of a quintal of premium white corn is 325 lempiras ($8.6), but the farmers' association PROGRANO is trying to achieve a price of up to 370 lempiras ($9.8) per quintal in negotiations with of corn flour producers.
The competition to secure supplies of beans has led Salvadoran importers to buy in advance Honduras’ harvest.
An article in the Honduran news portal El Heraldo reports statements by Luis Donaire, from the agricultural union PROGRANO, "Producers have turned again to El Salvador for funding. Some have planted by their own efforts, but between 25% and 30% have used Salvadoran funds"
Up to 30% of the first harvest of beans in Honduras was funded in El Salvador.
Luis Donaire, president of PROGRANO, commented that the producers are returning to get financing from El Salvador, a situation attributed to lack of funding from the Honduran government institutions such as the National Bank for Agricultural Development.
Losses of up to 50 percent of the seeded acreage of corn due to recent heavy rains have been reported in some parts of the country.
"In Olancho in the northwest and in other communities there have been more than 16 straight days of rain," said the president of Prograno, Luis Donaire. "They have lost almost 50 percent of their corn crop.
XAGRO S.A. Announced that they have signed a purchase agreement with Jam LLC to buy 5,000 MT of red beans from China that will be sold to importers throughout Central America to help ease market pressure and lower the high prices caused by recent shortages.
As part of the Agritrade Platform, Guatemala will participate for the 27th time in PMA Fresh Summit, the most important international trade show and convention of fruits and vegetables in the United States, which will take place at Anaheim Convention Center, California from October 17th to 19th.