farming in the southern cone - world...

Farming in the Southern Cone Sustainable Development Model

- Institutional- Argentina & Uruguay- Brazil- Sustainability

Content

April 2010

Mission & VisionMission & Vision

To become a leading global producer of food and renewable energy, offering shareholders and investors an attractive, stable, liquid and trustworthy investment alternative.

Team

Owning Farmland

Diversification

Technology

Sustainability

Lowest Cost Producer

Honest, trustworthy, highly qualified and empowered management

Stable production capturing land transformation & appreciation

Introducing cutting-edge technology in every business line

Managing risk through geographic and portfolio diversification

Long term production side-by-side with nature

We aim to be the lowest-cost producers in each of our businesses

Profitability Effectively generate attractive and stable returns for shareholders

How to achieve it

Following 7-years of aggressive growth, Adecoagromanages 275K hectares of own farmlandFollowing 7-years of aggressive growth, Adecoagromanages 275K hectares of own farmland

Producing each commodity in the right location (*)

Brazil

Argentina&

Uruguay

Cotton, Soy & CornEthanol, Sugar & Power

49,000 Hectares

Coffee

Crops

Dairy

4,500 Heads

Rice

Beef

(*) Includes 80K hectares of leased land

Rice Mills

160,000 Tons

Milk Industry

145 M Liters

13,000 Hectares

1,000 Hectares

155,000 Hectares

18,000 Hectares

74,000 Hectares

To date, the company has evaluated investments of over 1MM hectares with a total value of USD 5BN

Argentina & Uruguay

HumidPampas

Northern Region

FarmsIndustryOffices

Producing each commodity in the right location

Argentina & Uruguay production unitsArgentina & Uruguay production units

Crops155K HA

489K TONS

Rice18K HA

110K TONS

2010 Forecast

Cattle land lease

74K HA

Dairy4.5K HEAD

50M LTS

Grain Handling

30K TONSx5 Rotation

Rice Processing

160K TONSUSD 45M

Rice Seed Plant

6K TONSUSD 3M

Rice Processing

160K TONSUSD 45M

Rice Seed Plant

6K TONSUSD 3M

Rice Processing

160K TONSUSD 45M

Rice Seed Plant

6K TONSUSD 3M

Rice Processing

160K TONSUSD 45M

Rice Seed Plant

6K TONSUSD 3M

Soybean80K HA

195K TONSUSD 46M

Corn34K HA

190K TONSUSD 35M

Wheat26K HA

72K TONSUSD 21M

Sunflower16K HA

32K TONSUSD 17M

Soybean80K HA

195K TONSUSD 46M

Corn34K HA

190K TONSUSD 35M

Wheat26K HA

72K TONSUSD 21M

Sunflower16K HA

32K TONSUSD 17M

Soybean80K HA

195K TONSUSD 46M

Corn34K HA

190K TONSUSD 35M

Wheat26K HA

72K TONSUSD 21M

Sunflower16K HA

32K TONSUSD 17M

Soybean80K HA

195K TONSUSD 46M

Corn34K HA

190K TONSUSD 35M

Wheat26K HA

72K TONSUSD 21M

Sunflower16K HA

32K TONSUSD 17M

Argentine Humid Pampas is Adecoagro'score region for grain productionArgentine Humid Pampas is Adecoagro'score region for grain production

Abundant and Even Rainfalls

High Soil Fertility

Temperate Climate

Soil does not frost

+500 Hectare Plots

Specialized Contractors

High productivityStabilized yieldLow fertilizers useLow production costDouble CroppingEfficiency

HUMID PAMPAS: HIGHLY PRODUCTIVE FARMLAND

Cereals & Oilseeds Production and AreaK tons K hectares

73 102172 173

335330

308

0

100

200

300

400

' 03 ' 04 ' 05 ' 06 ' 07 ' 08 ' 09-50-20104070100130160

Production (K tons) Planted Area (K hectares)

Grains Production

Humid Pampas

45%

In Venado Region we are boosting productivity of both Grains & Forages

Tons per cropabble hectare

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10E

Tons

/he

Northern farms offer maximum transformation potential over natural grasses and savannahsNorthern farms offer maximum transformation potential over natural grasses and savannahs


700 to 1,400 mm annual rainfall

15 C° winter average temperature

Medium and Fertile soils

Rotation & double cropping decrease productive risk

Cheaper land

Large scale farms

Great expansion and transformation potential

North Main Features

Land Transformation at Northern farms:

Oscuro: Average Gross Margin over last 5 years stands at 200 USD/he (versus 5 USD/he of original cattle system)

Technollogy Development - Oscuro Farm CaseUSD/Hect. Tons (000)

1485* 25 120

270

304

140

050

100150200250300350400450500550600

' 03 ' 04 ' 05 ' 06 ' 07 ' 08 09 10F012345678910

Gross Margin (USD/Hect.)

Production (Tons)

Oscuro Farm - Crop Production evolution

* Cattle grazing margin

Requires a vast know-how to determine the best productive use of the land.

Implies mainly a removal of wild vegetation (mechanically and or chemically) in order to change land use from cattle to crop production.

Technical management such as rotations, integrated pest management, weed controls, balanced fertilization, is fine-tuned during the process.

Transformation costs will depend on vegetation, ranging from 75 USD/he for natural grasses up to 600 USD/he for heavier savannahs.

Conditions for Rice Production

Optimum insulation

500mm of rain + irrigation from runoffs

Electric Power investments Lower costs

High productivity and stability 8 tons/hect.

Experienced and skilled team

Own genetics through seed facility

Environmentally regulated

Northeastern Argentina offers optimum rice production capabilities and expansion potentialNortheastern Argentina offers optimum rice production capabilities and expansion potential


YIELD [TONS/HECTARE] 7.0 8.0 8.6

GROSS PRICE (USD/TON) 215 235 304

GROSS SALES 1,505 1,883 2,612

TOTAL EXPENSES (814) (1,137) (1,484)

HANDLING & DRYING (88) (94) (142) COMMERCIALIZATION (22) (94) (91)

GROSS MARGIN 582 558 895

OVERHEAD (67) (79) (380)

NET MARGIN 515 479 514

COST PER TON (1) 141 176 244

ARGENTINA URUGUAY BRAZIL

10395103

99

514337

0

20

40

60

80

100

120

2004 2005 2006 2007 2008 2009 2010F

K Tons

-2468101214161820

K Hectares

Production (K Tons)

Area (K Hectares)

Rice Production Evolution (Hectares & Tons)

Argentina: the lowest production cost

Rice Industry Highlights

160K tons processing capacity in 3 facilities

3rd parties rice purchases

Production of white, brown and parboiled rice

Exports to Chile, Brazil, Peru, Haiti, Senegal,

Ghana, Malaysia, Germany and Spain

15% Market Share in Argentina.

Own brands for domestic markets:

In a complex market, being vertically integrated generates high benefits

Technollogy Development - Oscuro Farm CaseK tons

5 5 21

160

65

130

21

648380

020406080

100120140160180

' 05 ' 06 ' 07 ' 08 ' 09f

Processing (K tons) Exports (K tons)

Rice Processing & Exports

Molinos Ala: 3rd largest in Arg.

Usina Monte Alegre: southern Minas Gerais.

Rice processing allows us to maximize the value of our riceRice processing allows us to maximize the value of our rice

We have developed a highly efficient system to transform vegetable protein into animal proteinWe have developed a highly efficient system to transform vegetable protein into animal protein

3,000 milking cows modules

100% confined

High quality feed based on corn

35 liters per cow per day

Production: 38 MM liters year

First module: 1,500 cows by July ‘08 and 3,000 by Feb ‘10

Adecoagro’s Free Stall Modules

Feed to milk conversion is 50% more efficient under the free stall system

Large scalesFeed based on corn and silos Controlled atmosphere Tasks specializationHigh standardization of processesEfficient effluent management

Free Stall Model vs. Traditional GrazingModel

Free Stall Dairy is the key technology for large scale milk production

June 08 June 08

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Brazil

La Pampa

Buenos Aires

Coffee1K HA

3.5K TONS

Cotton, Soy & Corn13K HA

50K TONS

Ethanol, Sugar & Power

49K HA259K TONS

Producing each commodity in the right location

Brazil production unitsBrazil production units

120K hectares of sugarcane

10MM Tons of sugar cane processed

500K M3 of ethanol

770K tons of VHP Sugar

Cogeneration power of 821 MW

Our 10MM ton Power Cane Project is based on synergies and economies of scale Our 10MM ton Power Cane Project is based on synergies and economies of scale

2015F Key Metrics

Cane Cluster’s Synergies

Economies of scale:Centralized managementHarvest efficiencies (non-stop harvest)Plantations being developed at 2 sitesViability of logistics projectsTechnological package

ANGELICA (2008)

IVINHEMA (2012)

Goal is to achieve 50% of Cotton

Corn & soybeans rotation helps to decrease pest and disease incidence

Fertilization is balanced among all crops

Cover crops help to maintain/gain organic matter, while storing water

Cotton is the main crop at western Bahia and especially for large scale production

Cotton

Cotton

CornSoy

Miletto (*)

Brachiaria (*)

Main features for Cotton rotations

Intense sunshine: 800 Kcal/cm2/day

Optimum rainfall: 1,800 mm with dry period

Good temperatures due to elevation

Deep and well drained soils

Even topography for full mechanization

Optimum conditionsOptimum conditions

(*) Cover crops

Chapada at 800 meter elevation (Conquista Farm)

Chapada at 800 meter elevation (Conquista Farm)

High efficient irrigation system

International Certifications for Specialty Coffee quality

Introducing premium quality coffee by irrigated & fully mechanized operation at western Bahia Introducing premium quality coffee by irrigated & fully mechanized operation at western Bahia

High quality coffee at a competitive cost

Seedling & Nursery facilities

Modern mechanization


People, Technology & Environment

Sustainable food production is based on professional team worksSustainable food production is based on professional team works

Creating and strengthening professional teams with values

Leading with commitment to the local community: Supporting Programs (ARG)

EducationEducation

HealthHealth

NutritionNutrition

Trustworthy

Professionalism

Honesty

Flexibility

Communication

Collaboration

Empowerment

Promoting technical excellence by training the staff & contractors

Over 160 trainees had succeeded our programs

Local and global Universities agreements

More than 40 trainees has started to from part of staff

18

Our long term players goal makes the strategy based on sustainabilityOur long term players goal makes the strategy based on sustainability

Sustainability as a way of doing things

Sustainable approach must be adapted to local circumstances

Sustainable approach must be adapted to local circumstances

Environmental

viability

Social

viability

Economic

viability

Ethic Environmental

viability

Social

viability

Economic

viability

Ethic

Land use change criteria

NATURAL GRASSESNATURAL GRASSES

NEW BUSHESNEW BUSHES

LOWLANDSLOWLANDS

SAVANNAHSSAVANNAHS

WEEDSWEEDS

ENVIRONMENTAL ASSESSMENTSENVIRONMENTAL ASSESSMENTS

HEAVYWOODSHEAVYWOODS

WETLANDSWETLANDS

Source: adapted from Satorre and Solbrig

Natural resources are the main foundation of

our activities

Natural resources are the main foundation of

our activities

Oscuro FarmReserve areas and corridors

Biodiversity is considered when transforming land from natural vegetation

Main criteria involved

Environmental Assessment

Soil surveys

Land use management

Biodiversity studies

Alejandro Giraudo, December 2004

Oscuro Farm

Biodiversity moving within corridorsBiodiversity moving within corridors

Sources: NIPE-Unicamp, IBGE and CTC

87% of powercaneproduction

Main sugarcane production area is far away from rainforestMain sugarcane production area is far away from rainforest

Land availability

Center-south (Sao Paulo state) is the most developed area

South-west region (MatoGrosso do Sul) present huge potential for new area

Main landscape in new areas consist in degraded grasslands

No need of deforestation to increase sugarcane area

25 million hectares of degraded pastures are

available for power-cane

25 million hectares of degraded pastures are

available for power-cane

Land transformation for power-cane is carried out under sensitive biodiversity careLand transformation for power-cane is carried out under sensitive biodiversity care

Optimum soil and climate

Even topography for mechanization

Large scale land availability

Land transformation from pastures

Mato Grosso do Sul’s strengthsMato Grosso do Sul’s strengths

Legal Reserve Areas (20% of farm)

Permanent Preserved Areas (river banks)

Law ComplianceLaw Compliance

Improving 2.5X productivity by turning pastures into sugarcane

Improving 2.5X productivity by turning pastures into sugarcane

Legal Reserve Areas17.8%

Infraestructure1.2%

Permanent Preservation

Areas7.7%

Natural Forests2.0%

Agricultural Area

71.3%Angelica original

Land Use

Empowered team and strong corporate platform facilitates efficient land transformationEmpowered team and strong corporate platform facilitates efficient land transformation

Technical Group promoting the best thing to do

Engineers building roads, ditches, dams, bridges, storages.

Technical Group promoting the best thing to do

Engineers building roads, ditches, dams, bridges, storages.

Over 110K hectares under transformation

Land Transformation evolution

-

5

10

15

20

25

02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11F

Hec

tare

s ('0

00)

-

20

40

60

80

100

120

Accu

mul

ated

Hec

tare

s ('0

00)

New Area

Accumulated

Highly qualified technical team capable of analyzing and executing any type of transformation project

Strong farm level support

People makes the difference even at

large scale

Efficient use of resources & energy

Best land use option

No Till development

Crop rotations

Water management

Balanced fertilization

Variable input management

Energy & GHG balances

Best land use option

No Till development

Crop rotations

Water management

Balanced fertilization

Variable input management

Energy & GHG balances

Integrated Pest Management

Soil & water quality survey

Triple cleaning of pesticide cans

Responsible pesticide usage

Environmental assessment

Residues recycling

Biodiversity management plan


Soil & water quality survey

Triple cleaning of pesticide cans

Responsible pesticide usage

Environmental assessment

Residues recycling

Biodiversity management plan

Less waste and contamination

Environmental Management PlanEnvironmental Management Plan

Helping to protect the environment by implementing Best Practices

Best Practices for a Renewable Project

Monitoring Preventing CorrectingEducating

No-till constitutes the cornerstone of our crop production technologyNo-till constitutes the cornerstone of our crop production technology

Technical overview

No-till increases land productivity and returns over time

Crop residues remain on the soil surface as mulch, creating a permanent soil cover catalyzing biological processes that significantly increases the presence of organic matter in the soils

Special no-till planters cut through crop residues and plant into soil without plowing or disking

Crop rotation is compulsory so as to maintain nutrient renewal and avoid crop plagues

Improves water efficiency

Reduces erosion risk

Increases organic matter

Decreases use of pesticides

Improves soil fertility

Reduces CO2 emissions

Higher and stable yields & lower costs year by year

No-till Benefits

ALTA PRODUCTIVIDADAD

CROP ROTATION

FERTILIZATION

NO TILL

WATER ECONOMYBIOTECH

INTEGRATED PEST MANAGEMENT


CROP ROTATION

FERTILIZATION

NO TILL



CROP ROTATION

FERTILIZATION

NO TILL


INTEGRATED PEST MANAGEMENT

Complex biological processes

Zone of active agregation

Zone of active decomposition

0 - 5 cm

Aggregates formation in layers

Source: J.C.Moraes Sa, 2003

Zone of active agregationZone of active agregation


0 - 5 cm0 - 5 cm



Zone of active agregation


0 - 5 cm



Zone of active agregationZone of active agregation


0 - 5 cm0 - 5 cm



Soil formation process

0

15

30

45

60

Convetional Tillage No Till

Lite

rs p

er h

ecta

re

Decreasing fossil fuel usage (Venado Tuerto Farms)

Source: Adapted from J.C. Moraes Sa, 2003

Life in the soil (kg)

Bacteria1100Actinomycetes1100

Fungus2200Algas110

Protozoos220Nematodes 50Insects100

Worms 1000Plantroots 2200

Fuente:D.Beck, 2005

No Till technology implies more than “without tillage” itself

Meaning more than common ideaSequestering Carbon

Implementing No Till at Bahia: From bared sandy fragile soils to cover protected fieldsImplementing No Till at Bahia: From bared sandy fragile soils to cover protected fields

Intensive training to the team was performed

Soil correction is previously needed

Strict weed control is being carried out

Cover crops are being tested and developed

Planters were re adapted to No Till fashion

No Till implementationNo Till implementation

Bahia Farms offer a potential Carbon Sequestration from No Till standing at USD 560K annually (*)

(*) Carbon Credit estimated value: 28 USD per ton

99% of No Till in 2009-1099% of No Till in 2009-10

Adecoagro - Potential Carbon Credits (Tons CO2 & USD)

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

2003 2004 2005 2006 2007 2008 2009F

Tons CO2

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

000 USD

Tons CO2

USD*

Adecoagro - Potential Carbon Credits (Tons CO2 & USD)

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

2003 2004 2005 2006 2007 2008 2009F

Tons CO2

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

000 USD

Tons CO2

USD*

Global GHG emissions

By sector

Sequestering best alternative

Main factor is CO2 accounting for 72%

USABraz

ilArge

ntina

Canad

aAus

tralia

Rest

0.0

5.0

10.0

15.0

20.0

25.0

30.0

Millions hectares

World No Till adoption (Hectares)2004-05

World annual potential stands at

3.3 Billions Tons C02

Adecoagro potential Carbon Sequestration from No Till

There is a huge potential on global Carbon sequestration from farmingThere is a huge potential on global Carbon sequestration from farming

(*) Carbon Credit estimated value: 28 USD per ton

Planting decision and crop rotation is based on crop technical criteriaPlanting decision and crop rotation is based on crop technical criteria

Which crops and where?

Wheat/Soybean Corn Soybean

INTERCROPINGSOY + SUNFLOWER

INTERCROPINGWHEAT + SOY

COLZA, BARLEYRAIGRASS, WHEAT

Sf/CSf/CW/CW/C Sb/CSb/C C/SbC/Sb

W/SbW/Sb C/SbC/Sb C/CC/C

100% DOUBLE CROP100% DOUBLE CROP

Sf: Sunflower

C: Corn

W: Wheat

Sb: Soybeans

ALL REGIONSSOIL PRODUCTIVITY

Yield =>Tons/hectare

SOIL PRODUCTIVITY

Yield =>Tons/hectare

LOW OFFEROF RESOURCES

BIOMASS DIVERSITY

IntercroppingDiversified rotations

BIOMASS DIVERSITY

IntercroppingDiversified rotations

SOIL USAGE TIME

Double CropsCover Crops

SOIL USAGE TIME

Double CropsCover Crops

LARGE OFFEROF RESOURCES

Intensification: more crops per year

More crops mean more carbon

Responsible pesticides management

Training programs

Participation in Agrolimpio

Implementation of 3X Cleaning

Personal protection elements


Agrochemical warehouses

IPM & No Till synergies

Responsible Pest Management is a priority when protecting the EnvironmentResponsible Pest Management is a priority when protecting the Environment

Recycling of containers

Totaling Pesticides of 165K hectares

Agrolimpio Program: Container rycicling (kg)

36,405

28,004

21,776

4,3100

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2005-06 2006-07 2007-08 2008-09 F

Kg

Agrolimpio Program: Container rycicling (kg)

36,405

28,004

21,776

4,3100

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2005-06 2006-07 2007-08 2008-09 F

Kg

Avoiding burning of cansDecreasing contamination risks

-

1,0

2,0

3,0

4,0

2003-04 2004-05 2005-06 2006-07 2007-08

Spra

y pe

r hec

tare

3,0

4,0

5,0

6,0

7,0

8,0

Lite

rs p

er h

ecta

re

Spray/hectare

Liters/hectare

Venado Tuerto farms: Pesticides application

Rainwater harvesting: reservoirs

Irrigation & Drainage system

Zero grade & controlled level

No Till benefitsImproving soil storage capacity

Promoting infiltration

Crop production strongly relies on technical water management criteria

Irrigated crops

Water excess controlTerraces & leveling

Runoff management

Increasing efficiency in usage

Decreasing erosion risksWater Management

main goals

Exhaustive hydrological assessments are carried out

Oscuro’s reservoirOscuro’s reservoir

Biotechnology offers substantial benefits, while requires assuming costs and impact evaluation

Growing opportunities

Developing opportunities

The goal: to maximize opportunities and minimize risks

Assessing types of soils is the key to zoom in the scale of management

Heterogeneity evaluation

PrecisionAgriculturePrecision

Agriculture

Global Positioning SystemGIS mappingRemote sensorsElectrical conductivityVariable input rate

Yield mapping (GIS-GPS)

Farmworks efficiencyIncreasing operative capacityAchieving planting scheduleHarvesting on time

Less overlaps in fieldsMore precise dosesLess contamination risks

Agrochemical use

Advantages of large scale helping to promote sustainable development

Use of silo bags to storage grains had radically changed logistics in Argentina

AdvantagesAdvantages

Flexibility in locationEasy filling & extractionLow storage cost

Caution aspects: grain quality, uniform filling, even terrain, cleaning conditions, periodic quality survey

Grain moisture & storage risk

Grain moisture & storage risk

Long storage periodsSmall size to be monitoredHelp to manage freight logistics

Sugarcane mechanization is an important technical, social and environmental challengeSugarcane mechanization is an important technical, social and environmental challenge

Especial training

Detailed planning

Higher investment

Technology development

Offering

Environmental sensitiveness

Healthier labor conditions

Improving operative efficiency

Standardization possibility

Demanding

Training team in a region with no agricultural tradition is key to being a low cost producerTraining team in a region with no agricultural tradition is key to being a low cost producer

All local operators and maintenance teams with no previous experience are trained

Trained Approved In Training Theory (hs.) Practice (hs.)

Tractors 178 122 138 96 430Volkswagen Trucks 192 144 190 96 648Volvo Trucks 49 43 65 40 298Mechanized Planting 32 23 26 47 330Harvester 0 0 114 112 390

Total 451 332 533 391 2096

A low maintenance cost is critical to full

mechanization costs

Our operations team is constantly working with advisors form CTC - the Cane Technology Center , equipment manufacturers and other consultants to improve efficiencies at all field operations, the fastest route to low agricultural costs

Training operators and tracking their performance is key to attaining high efficiency

Performance 2008 2009 Gains (%) Target

Harvesters (tons/day) 500 550 10 600Harvester Fuel (lts/ton) 1,25 1,03 17,6 0,95Harvester Losses (Cane %) 7,19 5,73 20,3 4,5Mineral Impurities (%) 1,24 1,22 1,6 1Vegetable Impurities 10,9 7,38 32,3 8Harvester Availability 88 91 3,4 92Operator Absentism (%) 4,55 3,78 16,9 3,5Accidents per month 4 2 50 1

Large scale sustainable farming leads to models with standardization of processesLarge scale sustainable farming leads to models with standardization of processes

Wheat production protocol

“Industrial”vision

“Industrial”vision

Maximized efficiencyReplicable processesImproving Decision Making processContinuous improvementCertifying productive systems

We are certifying ISO 9001 for crop production

processes

Accomplish Legal regulation

Decreasing Social & Environmental operational risks

Improving operative efficiencies

Achieving “Industrial” vision

Main Goals

OHSAS 18001

ISO 14001

ISO 9001

Crop Protocols

Agriculture Best Practices

Imaflora-Rainforest Alliance

Some Standards under development


Conclusions

Farming as the best option for a Sustainable business

A growing planet where Ecological Demand overshoots Supply

Cropland, grazing land, forest & fishing to produce food, fiber, timber, energy and to absorb wastes.

Source: Living Planet Report, WWF, 2008

Carbon sequestration from No Till

Fossil fuel reduction from No Till

Agrochemical reduction from IPM*

Best land use to decrease extra-land use change

Conservation areas: carbon & biodiversity sinks

Soil protection from erosion

Adequate water management

Sustainable Agriculture

(*) IPM is Integrated Pest Management

Responsible answer comes from Developing Models

► Private sector initiative is essential to develop these models.

► Positive effects can be multiply outside the local area.

Abundant water

Fertile soils

Mild temperature

Land availability

Natural conditionsCutting edge Technology

Mechanization

Management skills

Environmental sensitiveness

Human & Technology

Private land

Food surplus

No trade barriers

Corporate farming

GeopoliticalLow production cost

Cheap land

Good infrastructure

Vertical integration

Economical

South America presents strong advantages on food & renewable sustainable production

South America: Helping to solve Food supply & global

Hunger crisis

South America Strengths

Source: Atlas of Global development, World Bank, 2008

Good quality farmland is globally limited

Adecoagro is performing best alternative on Sustainable AgricultureAdecoagro is performing best alternative on Sustainable Agriculture

Diversification

Vertical integration

Efficient scale

Land use & Best Practices

Sustainable Vision

Constant improvement

Large Scale Sustainable

Farming

Best Farming operator performance

…while simultaneously…

Adecoagro: the best team to put all the pieces

working together

Eng. Agr. Alejandro López MorienaTechnical Responsible

www.adecoagro.com

Satisfying present needs without forgetting those

of future generations

Satisfying present needs without forgetting those

of future generations

farming in the southern cone - world...

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