In its report published in late December, the USDA predicted a harvest of slightly less than 1.4 million tonnes, down by just over 100 000 t from the previous one. Another frost, which occurred in early September 2016 in Tucuman, was the cause. The USDA has predicted a similar uptake to last season by the industrial sector, the main outlet for Argentinean production, at approximately 1 million tonnes. The derivatives market did not react to this news. In early January, the concentrated juice rate maintained 2 250 USD per tonne (400 gpl fob Argentina), while the essential oil rate remained at 38 000 USD per tonne (exw Europe).
Source: USDA
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