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Paraguay Soybean Giant Girds for Worst Harvest in Two Decades

  • CCU says it may reap 160,000 tons versus 400,000-ton goal
  • Cooperative sees animal proteins, corn trimming soy dependence

Paraguayan agribusiness giant Cooperativa Colonias Unidas probably will harvest less than half its original forecast this year as a deep drought stunts crops across South America’s farming belt, according to a senior manager.

Production of 150,000 to 160,000 metric tons would mean around $100 million less revenue for the cooperative, whose members farm about 120,000 hectares (297,000 acres) in the southern provinces of Itapua and Alto Parana, said Eduardo Dietze, who oversees farm supplies and technical assistance.