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From Precy Dumlao, Opalesque Asia:

The lower-than-expected harvest in Uruguay has wiped out positive returns in Lumix AgroDirect Fund projects, particularly in Argentina and Brazil. Because of the lower yields from its Uruguay portfolio, the Latin American Lumix AgroDirect, which is managed by Switzerland-based Lumix Capital Management, is forecasting a single-digit loss for the 2010-2011 harvest season.

In its monthly report, Lumix said that the fund returned +0.12% in April (+10.45% YTD) and is now up +22.39% since its inception in August 2009.

"As the harvest season progresses and we move forward with the harvest of the crops in the different projects, we were able to continue to validate our budgeted and revised yields for the different projects," the report added.

Weather influence The weather conditions in Argentina and Uruguay have improved since March. But while Lumix’s position in Argentina yielded positive results af......................

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