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- (-) March 2023
- (-) New Zealand
- (-) Uruguay
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Post estimates marketing year (MY) 2022/2024 soybean production at 875,000 metric tons (MT), the lowest level in sixteen years due to a historic drought affecting Uruguay and neighboring Argentina. As a result, Post reduces MY 2022/23 exports to 850,000 MT.
Wheat production in marketing year (MY) 2023-2024 is forecast to remain flat at 1.2 million metric tons. Production will remain flat despite a larger harvested area as Post projects a return to trend from high yields in the previous season.
Despite being a small country, New Zealand is a major exporter of food and beverage products, and many of these products are manufactured in-country requiring inputs imported from other suppliers.
Since hitting peak numbers in 2016, the New Zealand national cattle herd has been very gradually declining and this is expected to continue in 2023.