We seeded at USD 350/ton and are now harvesting at approximately USD 412/ton. Along the way, we secured sales at USD 375, 395, and 405—ensuring a balanced pricing strategy.

Yields are below initial expectations due to the dry summer and lack of rainfall during the critical mid-January to mid-February period. Nevertheless, results remain above the national average with 2,000 kg per hectare, setting a solid benchmark.

Harvest is now a race against time, with weather risks increasing. A potential El Niño pattern could bring significant rainfall in the coming months.

Looking ahead, rapeseed and cover crops (oats and vetch) are already in the ground. Wheat planting is underway alongside second-crop soybeans. While current urea prices challenge wheat economics, maintaining a sound crop rotation remains essential.

Is camelina a viable SAF crop in Uruguay? Perspective from farm and industry.

Sustainable Aviation Fuel (SAF) is gaining momentum globally, and oilseed crops like camelina are increasingly part of the conversation. We tried it last year on 200 hectares and will continue this year on 80 hectares.

Camelina is being promoted internationally by players such as Louis Dreyfus Company, typically under contract farming schemes that include seed supply, technical support, and guaranteed offtake. The crop is positioned as a winter rotation, particularly after soybeans, with strong links to SAF demand in Europe and the U.S.

From a Uruguayan perspective, camelina presents an interesting alternative:
• Low input requirements compared to traditional winter crops
• Short cycle, allowing timely planting of soybeans or maize
• A viable option when wheat or barley carry higher risk

Yields are modest, but so are production costs. It can function as a “service crop” within the system, with upside potential in favorable conditions. Current pricing is around USD 500/ton, with yields ranging from ~700 to 1,400 kg/ha depending largely on planting timing and weather conditions.

Challenges remain—particularly around weed control and limited local adoption—but the crop offers flexibility and diversification in increasingly volatile input and climate conditions.

Uruguay is positioning itself in the Sustainable Aviation Fuel (SAF) space—not only through crops like camelina or carinata, but now also through industrial investment.

The NovaSAF-1 project in Durazno, led by Syzygy Plasmonics together with Estancias del Lago, marks a shift from concept to execution. With production already contracted to Trafigura, demand is clearly in place.

What stands out is the model: converting agricultural by-products into aviation fuel. It connects farming, energy, and global markets in a very tangible way.

For landowners, the implication is subtle but important. Agriculture is no longer just about crops or livestock—it is becoming part of a broader energy and industrial system.

While not yet mainstream in Uruguay, camelina is worth watching as SAF markets continue to develop and global demand strengthens.

First season of irrigated cropping on a 1,000-hectare farm: lessons learned

Starting irrigated crop production on a large-scale farm is never straightforward — and this first season at our 1,000-hectare property in Durazno proved exactly that. Here is an honest account of what went right, what went wrong, and where we are headed.

The setup: existing equipment, new ambitions

The irrigation infrastructure on this farm dates from 2007 and 2011 and runs on diesel. Taking on an existing system — rather than designing one from scratch — means inheriting both its strengths and its limitations. Pre-season maintenance was carried out, but as the maize growing season began, a series of technical issues tested the operation early.

A difficult start for maize

Challenge 1 In an effort to improve system efficiency, we replaced the nozzles before the season. Unfortunately, a calculation error by the service provider meant the system lacked sufficient water pressure for the new nozzles. Resolving this took meaningful time.

Challenge 2 Once that issue was temporarily managed, a second problem surfaced: rainwater had mixed with the diesel fuel, causing engine damage across the system. Getting everything fully operational again cost us four weeks — right in the middle of the maize growing window.

Those four weeks are impossible to recover in crop terms, and the impact is amplified when, as was the case this season, Uruguay is going through a dry summer. Maize is an unforgiving crop when water stress coincides with critical growth stages.

Soybeans: a different story

The soybean season was free of the technical problems that plagued maize, and the results clearly reflect that. The crop developed substantially well throughout. That said, this season also revealed something important about the land itself: a portion of the irrigated soils appears better suited to forestry than to row cropping.

The original irrigation system design — pivot sizing and layout — was not optimised for productive irrigated agriculture. It was likely conceived with a different objective in mind. There is little that can be done about inherited infrastructure, but it is a factor to manage going forward.

The bottom line: irrigation makes a real difference

Despite a difficult first year navigating an existing system with mechanical setbacks, the yield data speaks clearly. Maize achieved close to double the yield of equivalent non-irrigated crops on the same farm. Soybeans are tracking roughly 1,000 kg/ha above the non-irrigated baseline — and harvest is still ahead.

Even under imperfect conditions, irrigated production delivered a significant advantage. The potential, once operations are running smoothly, is clear.

What comes next

The winter months will be used to improve equipment efficiency and prepare the irrigated fields properly. Priority actions include deep tillage, liming, and rehabilitation of the pivot tracks — measures that will set a stronger foundation for the coming season.

This first campaign was a learning curve. The next one will be better prepared.

For absentee landowners, effective farm management relies on clarity, transparency, and the right accountability. Yet many management partnerships falter due to avoidable errors. At Suma Agro Valor SAS, we combine local expertise with integrated farm management software to ensure strong oversight and reliable performance. Here are eight common mistakes to avoid:

1. Unclear Planning and Expectations

Successful farming requires forward planning—production, resources, and financial goals must be defined upfront. Without clear expectations, management decisions become reactive rather than strategic. We work with planning of cash flow and rotation plan to combine financial and operational planning.

2. Weak Financial Oversight

Poor cash-flow monitoring, incomplete records, and lack of profitability analysis are frequent issues. We use detailed financial tracking and regular reporting to ensure transparency, maintain seasonal reserves, and evaluate profitability across your operation. The Albor system is of great help for this.

3. Ignoring Soil Health

Regular soil testing and corrective actions are essential to sustaining yields. Overlooking soil condition is one of the fastest ways to reduce long-term productivity. The right interpretation of soil samples is crucial.

4. Overworking the Land

Continuous cropping without rotation or rest depletes nutrients and impacts future yields. We integrate service crops such as oats and sorgo into the crop rotation. Proper planning protects the value of your land and ensures agronomic resilience.We hire experts for the mandatory soil management plan.

5. Limited Communication

Many managers avoid sharing difficult news or real performance data. We prioritize open, consistent communication—ensuring you receive timely updates and real insights into farm operations. We send frequent reports five times a year.

6. Falling Behind on Regulations

Regulatory frameworks evolve quickly. Complications and penalties often arise when compliance is treated as an afterthought rather than a routine responsibility. For example, the use of water rights or the registration of an air strip.

7. Inadequate Risk Management

Relying on a single crop, market, or system increases vulnerability. Diversification strategies and insurance tools are essential to protect your investment. We work with crop insurance and insurance for workers and infrastructure at the farms.

8. Resistance to Innovation

Agriculture moves fast. Sticking to outdated practices limits profitability and efficiency. We adopt new technologies, precision tools, and data-driven systems to stay ahead of market and environmental shifts. Nowadays there are new apps appearing almost weekly. Trial and error of different tools is something we like to do.

A Smarter Approach to Farm Management

At Suma Agro Valor SAS, we integrate advanced farm management software to track production, soil metrics, livestock, and finances in real time. This allows us to generate reliable performance reports, monitor expenses and income, and identify opportunities for improvement—giving absentee landowners confidence, clarity, and control. If you got any ideas for us, please let us know.

As we transition into the summer 2025/2026 season, it’s a good moment to look back at how winter cropping and livestock performed across Uruguay — both from our own experience managing farms for investors and from broader market trends shaping the sector.

Winter Crops 2025: Oilseeds Gain Ground

The winter harvest wrapped up in December with wheat, closing a season marked by a clear shift toward oilseeds. Wheat and barley remain important crops, but the combination of price pressure and strong oilseed demand led many producers — including our own managed farms — to rebalance their rotations. It might be good to mention that a large facility will be constructed in Durazno specifically for oilseeds for aviation on the premises of Estancias del Lago.

Camelina: A Small Crop With Growing Interest

Camelina, introduced last year by LDC, expanded its planted area again in 2025. Yields were below expectations, and decisions for next year will require careful analysis. Its advantages — a short cycle, good soil-health impact, and compatibility with diversified rotations — remain attractive. But lack of weed-control tools and uncertainty around profitability are real considerations for producers and investors alike.

Yields & Market Signals

This winter showed solid performance overall:

• Canola / Rapeseed + Carinata:
  Average yields around 1,650–1,700 kg/ha, supported by very strong pricing. Domestic quotations for rapeseed climbed above USD 500/t, consolidating oilseeds as the most profitable winter option.
• Camelina:
  A yield of 1,000 kg/ha is considered positive, though variability remains high.
• Wheat:
  Regional bumper harvests put downward pressure on prices, forcing many producers to market grain as forage late in the season. Yields were approximately 5,000 kg/ha.
• Barley (cervecera and feed):
  Still a core crop for winter rotations, though pricing stayed more conservative compared to oilseeds.

The broader trend is unmistakable: oilseeds strengthened their position as the preferred winter crop, driven by price, demand, and alignment with integrated cropping systems. For landowners and investors, this opens opportunities to optimize rotations with higher-value crops while maintaining agronomic balance.

Livestock 2025: A Strong Market With Favorable Conditions

The livestock sector entered spring 2025 in one of the strongest positions of recent years. Across all categories, prices remain firm, demand is high, and supply is tight — a combination that rewards well-managed farms.

Market Performance

• Finished cattle:
  Export-ready animals reached USD 5.05–5.10/kg carcass, reflecting robust international demand.
• Young stock / replacement animals:
  Prices also increased due to strong demand and limited availability.
• Slaughter activity:
  Remains high, with the industry processing significant volumes despite supply constraints.

These conditions have reinforced Uruguay’s position as a stable, export-oriented beef supplier — and they continue to support land values in livestock regions.

What This Means for Land Investors

We see several favorable dynamics for investors with cattle-oriented properties:

• Strong returns on finished cattle, especially with efficient pasture management.
• Advantageous spring conditions, allowing finishing on natural pasture and reducing feed costs.
• Active replacement market, offering flexibility to adjust strategy depending on price cycles.
• Export-driven stability, helping shield revenues from domestic fluctuations.

Spring 2025 has been a rewarding season for livestock operations. For investors considering land with livestock potential — or those seeking reliable professional management — market fundamentals are aligned in a very supportive direction.

Closing Perspective

Across both cropping and livestock systems, winter 2025 reinforced two themes we see consistently in our work at Suma Agro Valor: the value of diversified production systems and the importance of active, professional management to capture market opportunities.

As we move into the summer season, these trends continue to guide our decisions and strategies on behalf of the farms we manage for investors in Uruguay.

November was a busy and productive month for Suma Agro Valor SAS, marked by five visits from European investors—some already established landowners in Uruguay, others discovering the country as a new destination for agricultural investment. Across all visits, one theme dominated the agenda: how to structure and optimize the management of farms owned by absentee investors.

Hands-On Management for Actively Operated Farms

Two of the farms we oversee are under direct management by our team, including full working-capital planning and operational execution. Both properties—owned by Swiss clients—focus primarily on row cropping, with complementary livestock activities to diversify returns.

One farm is equipped with four central pivots, providing efficient irrigation for soybeans and maize. During the visits, we reviewed:

• Crop rotation and input planning
• Working-capital requirements
• Livestock management strategies
• Profitability scenarios under different production and price conditions

These discussions reinforce the value of professional oversight when absentee owners decide to operate their farms directly rather than leasing them out.

Lease-Based Management for Passive Ownership

Four additional farms visited in November are leased out, which remains the preferred model for many international investors seeking stable passive income. For these assets—owned by German investors, primarily from Bavaria—we supervise tenant relations, rent compliance, and ongoing maintenance.

This year’s tasks included:

• Land clearing
• Internal road improvements
• House renovations
• Perimeter and internal fence repairs
• General asset protection and long-term enhancement

Our role is to ensure that leased farms remain productive, well-maintained, and positioned for gradual value appreciation.

A Notable Trend: Residency and Long-Term Commitment

An interesting development in 2024 has been a growing interest among existing investors to combine their Uruguayan land holdings with residency applications, with some exploring pathways toward dual citizenship. This underscores a broader trend: many absentee owners are not only maintaining their investments but also deepening their personal and financial ties to Uruguay.

Management Strategy: A Key Factor Before Purchasing

For new investors, a central part of our conversations involved defining the ideal management structure for each property. The right approach depends on several factors:

• Scale of the farm
• Location and logistics
• Soil suitability and crop potential
• Presence of irrigation systems
• Existence and condition of farmhouses or infrastructure

Most absentee owners opt for a lease arrangement due to its simplicity and efficiency. In some cases, rental income is strategically allocated to fund gradual improvements such as those carried out this year.

At Suma Agro Valor SAS, we believe that a clear management plan should be established before any acquisition. This allows investors to align expectations—operational, financial, and strategic—right from the start.

We’re pleased to share that Suma AgroValor has been featured in Agri Business Review, highlighting our role in transforming farmland in Uruguay into a robust, long-term investment asset. The article reflects how our local team combines agronomic expertise, hands-on management and transparent reporting to unlock the full productive potential of each hectare — strengthening both operational performance and long-term asset value.

For investors, this approach means more than solid yields: it provides stability, diversification, and exposure to a real asset backed by disciplined management and measurable improvements in soil health, productivity and overall farm efficiency.

We invite you to explore the full feature and discover how Suma AgroValor creates sustainable, resilient value for landowners and investors alike.

At Suma AgroValor, we actively implement regenerative farming and Good Agricultural Practices across our operations. Our approach goes beyond short-term yields: we see ourselves as true land stewards, committed to long-term ecological health and the responsible management of natural resources. All practices are implemented in dialogue with the landowner’s requirements and preferences and adapted to the scale and soil types that allow regenerative farming to thrive.

Soil and Crop Management

We restore and maintain soil health through no-tillage methods, diverse crop rotations, and comprehensive soil management plans. Our practices fight erosion, enhance nutrient cycling, and preserve soil structure. By integrating precision agriculture technologies, we optimize input application through variable rates, real-time data monitoring, and smart spraying systems. This ensures sustainable productivity while reducing environmental impact.

Regenerative Cattle Farming

Our livestock operations are designed to regenerate ecosystems. Animals graze on high-rotation, small paddocks, which improves soil health and plant diversity. Cattle have access to clean water basins and are raised without hormones or antibiotics, promoting both animal welfare and environmental stewardship. Holistic grazing and adaptive rotational management allow our pastures to mimic natural grazing patterns, supporting biodiversity and soil carbon sequestration.

Integration and Resilience

By combining crops, livestock, and forestry, we build diversified, resilient systems that are better prepared for climate variability, conserving soil moisture, resisting erosion, and maintaining ecosystem services. Our regenerative practices not only enhance farm productivity but also provide environmental and economic benefits, including potential carbon sequestration opportunities.

At Suma AgroValor, regenerative agriculture is not just a concept—it’s the foundation of how we manage land, nurture ecosystems, and deliver sustainable results for our clients.

Irrigation on Crop Farms in Uruguay: From Planning to Execution

Irrigation is becoming a strategic investment for crop farms in Uruguay. By stabilizing yields and reducing weather-related risks, it allows landowners to make the most of high-quality soils. Setting up irrigation, however, involves more than installing pivots—it requires a well-structured project, permits, and significant infrastructure.

Step 1: Estimating Potential

The process begins with a preliminary assessment of the farm. We study the layout of the land, soil capacity, and possible water sources. In Uruguay, irrigation projects increasingly rely on artificial lakes or reservoirs, rather than rivers, to ensure water availability while respecting environmental regulations. Important is the source of energy for the irrigation system. Not all farms have three-phase electricity and sometimes gasoil is the best option.

Step 2: Project Design

A detailed project design defines the irrigation area, pumping capacity, water storage, and pivot layout. This stage balances efficiency, sustainability, and return on investment. In most cases, water resource is not from a river, but rather from an artifical lake.

Step 3: Regulatory Applications

All irrigation projects must be approved by national authorities. Applications cover both water use permits and construction authorization for lakes or dams. Compliance ensures long-term legal certainty for the investment. It is important to speak with the regional representatives of the authorities that will carry out the physical inspections at the farm.

Step 4: Project Execution

Once approved, the physical work includes:

• Electricity provision to power the system.

• Construction of a dam and artificial lake to guarantee reliable water storage.

• Installation of pumps and generators for distribution.

• Purchase and installation of pivots, tailored to the farm’s layout.

Investment, Costs, and Returns

The cost of an irrigation project depends on scale and design, but as a reference:

• Lake construction typically represents one of the largest investments.

• Center pivots cost in the range of USD 1,500–2,000 per hectare covered (including infrastructure).

• Additional expenses include pumps, pipelines, generators, and grid connection where needed.

While upfront costs are significant, irrigation brings measurable production gains. On average, irrigated land in Uruguay achieves yield increases of around 1,000 kg per hectare in soybeans and up to 6,000 kg per hectare in maize. These improvements can quickly offset investment costs and provide long-term profitability.

A Long-Term Strategy

For landowners, irrigation is not just about securing water—it’s about transforming the farm’s production potential. With the right planning and execution, an irrigation project can deliver strong financial returns and protect the land’s value for the future. There are important fiscal incentives for irrigation projects.