Consultancy firm Oil World estimates that Argentina’s production fell 18.7% in the last campaign, to 40 million tons. Argentina’s 2012 soybean harvest could fall to 40 million tons from 49.2 million in 2011 due to damage caused by severe drought, it reported is this Tuesday Oil World, a consulting company specializing in oilseeds based in Hamburg.

Oil World’s previous projection for 2012 Argentine soybean production was 41 million tons.

In this way, domestic production of oilseeds, the main crop in the country, would decrease by 18.7 percent compared to the previous campaign. Argentina is the third largest producer of soybeans in the world, after the USA and Brazil, and the main exporter of flour and oil obtained from the grain.

Source: Minute one