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Argentina calculates losses of US$ 16.8 billion if Europe does not renew use of glyphosate
Nov. 17, 2017
Aapresid
ArgentinaFollow
ArgentinaThe president of the No-Tillage Growers Association of Argentina (Aapresid), Pedro Vigneau, warned that if Europe does not renew the authorization for the glyphosate herbicide, Argentina could see losses of US$ 16.8 billion.
Permission to use the herbicide is expected to end in mid-December. The previous authorization had been granted in the middle of last year. A proposal to extend the use of glyphosate for five more years has been suggested, though a number of countries, including France, oppose the extension.
Recently, there was a vote on the glyphosate issue, in which 14 countries voted in favor, nine against and five abstained. While the use of glyphosates received a majority of the votes, it did not reach a threshold of 55% of the countries representing 65% of the European population.
According to Vigneau, the cost for Argentina to convert to conventional agriculture methods, including the use of more agrochemicals and mechanical applications, is about US$ 8.7 billion.
The European Union is also the major destination for Argentinian soybean meal exports. Therefore, nearly US$ 3.2 billion would be at stake if the use of glyphosates is blocked. In addition, there is a danger that nearly five million hectares would no longer be suitable for agriculture due to cost increases, located primarily in the North of the country. Further, losses caused by a fall in exports due to reduced planting areas would reach US$ 4.8 billion.
“Altogether, Argentina has more than US$ 16.8 billion in the hands of European politicians. Mercosur is the region that would be the most harmed by this decision, as well as all of Argentina, which depends on agricultural exports to assure continued foreign exchange,” added Vigneau.
Source: AgroNews
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