Adecoagro S.A. (AGRO)
Q2 2012 Earnings Call
August 15, 2012, 11:00 a.m. ET
Hernan Walker – Investor Relations Manager
Isabella Simonato – BofA/Merrill Lynch Giovana Araujo – Itau BBA Alessandro Baldoni – Deutsche Bank Rodrigo Mugaburu – Morgan Stanley Martin Garzaron – City of London Investment Management [Inaudible] – HSBC Securities Thiago C. L. Duarte – BTG Pactual Pedro Richards – Raymond James Presentation
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Good morning everyone, and thank you for joining Adecoagro’s second quarter ending results call. During this quarter, we started [inaudible] season. We finished [inaudible] of main annual crops, and we are preparing the company for our next agricultural season. On the sugar and ethanol business, because of the high amount of rainfall, we have not been able to crush the amount of cane we expected during this period. Nevertheless, the cane is still in our fields waiting to be harvested. Under normal weather conditions, we should [inaudible] our remaining season, compensating the lower volumes crushed during the second quarter.