Héctor Cristaldo, Chairman of Paraguays Union of Production Guilds (UGP), pointed out on the 8th that Paraguays soybean industry was in one of its worst periods and the total soybean output was not expected to the exceed 800 tons this year.

Paraguay’s El País reported on May 8 that Chris Dardaud pointed out that bad weather conditions had led to poor soybean crops and a sharp decline in soybean production in Paraguay. It is estimated that, the income of the Paraguayan soybean industry this year will decrease by USD 1.16 billion from the last year.

The Association of Producers of Soy, Grains and Oilseeds Paraguay (APS) pointed out that, this year’s decline in Paraguay’s soybean production and low soybean prices in the international market have put great pressure on the soybean producers to repay their debts. It is estimated that 30% of the producers are refinancing their debts to reduce the debt burden.