Adecoagro (AGRO) 20-F 28 Apr 22 2021 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2021shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-35052
Entity Registrant Name	Adecoagro S.A.
Entity Incorporation, State or Country Code	N4
Entity Address, Country	LU
Entity Address, Address Line Two	Vertigo Naos Building
Entity Address, Address Line One	6, Rue Eugène Ruppert,
Entity Address, Postal Zip Code	L - 2453
Entity Address, City or Town	Luxembourg
Title of 12(b) Security	Common Shares
Trading Symbol	AGRO
Security Exchange Name	NYSE
Entity Common Stock Outstanding	111,096,772
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Entity Central Index Key	0001499505
Current Fiscal Year End Date	--12-31
Business Contact
Document Information [Line Items]
Entity Address, Country	LU
Entity Address, Address Line Two	Vertigo Naos Building
Entity Address, Address Line One	6, Rue Eugène Ruppert,
Entity Address, Postal Zip Code	L - 2453
Entity Address, City or Town	Luxembourg
Contact Personnel Name	Manuela Lamellari
Contact Personnel Email Address	manuela.lamellari@intertrustgroup.com
City Area Code	352
Local Phone Number	26449.494

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor Information [Abstract]
Auditor Name	PRICE WATERHOUSE & CO. S.R.L.
Auditor Firm ID	1349
Auditor Location	Buenos Aires, Argentina

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Profit or loss [abstract]
Sales of goods and services rendered	$ 1,124,352	$ 817,764	$ 887,138
Cost of goods sold and services rendered	(854,965)	(611,946)	(671,173)
Initial recognition and changes in fair value of biological assets and agricultural produce	227,740	122,729	68,589
Changes in net realizable value of agricultural produce after harvest	(12,879)	7,005	1,825
Margin on manufacturing and agricultural activities before operating expenses	484,248	335,552	286,379
General and administrative expenses	(69,794)	(53,428)	(57,202)
Selling expenses	(117,662)	(95,058)	(106,972)
Other operating (expense)/ income, net	(18,768)	1,987	(822)
Profit from operations	278,024	189,053	121,383
Finance income	36,670	26,054	9,908
Finance costs	(151,681)	(213,776)	(202,566)
Other financial results - Net gain of inflation effects on the monetary items	11,541	12,064	92,437
Financial results, net	(103,470)	(175,658)	(100,221)
Profit before income tax	174,554	13,395	21,162
Income tax (expense)	(43,837)	(12,325)	(20,820)
Profit for the year	130,717	1,070	342
Attributable to:
Equity holders of the parent	130,669	412	(772)
Non-controlling interest	$ 48	$ 658	$ 1,114
Earnings / (Loss) per share from operations attributable to the equity holders of the parent during the year:
Basic earnings per share (USD per share)	$ 1.135	$ 0.003	$ (0.007)
Diluted earnings per share (USD per share)	$ 1.130	$ 0.003	$ (0.007)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Statement of comprehensive income [abstract]
Profit for the year	$ 130,717		$ 1,070		$ 342
-  Items that may be reclassified subsequently to profit or loss:
Exchange differences on translating foreign operations	121,146		(78,961)		(27,828)
Cash flow hedge, net of income tax	29,758	[1]	(14,386)	[2]	(19,420)	[3]
-  Items that will not be reclassified to profit or loss:
Revaluation surplus net of income tax (Note 12, 14)	(136,622)		29,453		(31,929)
Other comprehensive income/ (loss) for the year	14,282		(63,894)		(79,177)
Total comprehensive income / (loss) for the year	144,999		(62,824)		(78,835)
Attributable to:
Equity holders of the parent	147,273		(63,353)		(75,437)
Non-controlling interest	$ (2,274)		$ 529		$ (3,398)
[1]	Net of 2,526 of Income tax.
[2]	Net of 5,729 of Income tax
[3]	Net of 6,752 of income tax.

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Non-Current Assets
Property, plant and equipment	$ 1,422,623	$ 1,358,292
Right of use assets	260,776	209,694
Investment property	32,132	31,179
Intangible assets	31,337	26,930
Biological assets	19,355	14,725
Deferred income tax assets	10,321	19,821
Trade and other receivables, net	42,231	52,266
Derivative financial instruments	757	1,951
Other assets	1,071	809
Total Non-Current Assets	1,820,603	1,715,667
Current Assets
Biological assets	175,823	150,968
Inventories	239,524	133,461
Trade and other receivables, net	145,849	145,662
Derivative financial instruments	828	151
Other assets	8	45
Cash and cash equivalents	199,766	336,282
Total Current Assets	761,798	766,569
TOTAL ASSETS	2,582,401	2,482,236
Capital and reserves attributable to equity holders of the parent
Share capital	183,573	183,573
Share premium	851,060	902,815
Cumulative translation adjustment	(514,609)	(555,044)
Equity-settled compensation	16,073	14,795
Cash flow hedge	(60,932)	(90,689)
Other reserves	106,172	83,406
Treasury shares	(16,909)	(7,630)
Revaluation surplus	289,982	343,570
Reserve from the sale of non-controlling interests in subsidiaries	41,574	41,574
Retained earnings	115,735	8,671
Equity attributable to equity holders of the parent	1,011,719	925,041
Non-controlling interest	36,111	38,683
TOTAL SHAREHOLDERS EQUITY	1,047,830	963,724
Non-Current Liabilities
Trade and other payables	284	290
Borrowings	705,487	813,464
Lease liabilities	201,718	159,435
Deferred income tax liabilities	265,848	182,377
Payroll and social liabilities	1,243	1,075
Provisions for other liabilities	2,565	2,705
Total Non-Current Liabilities	1,177,145	1,159,346
Current Liabilities
Trade and other payables	168,746	126,315
Current income tax liabilities	1,625	760
Payroll and social liabilities	25,051	23,333
Borrowings	112,164	157,626
Lease liabilities	45,136	36,337
Derivative financial instruments	1,283	13,141
Provisions for other liabilities	3,421	1,654
Total Current Liabilities	357,426	359,166
TOTAL LIABILITIES	1,534,571	1,518,512
TOTAL SHAREHOLDERS EQUITY AND LIABILITIES	$ 2,582,401	$ 2,482,236

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands		Total	Subtotal	Share capital (Note 22)	Share premium (Note 22)	Cumulative translation adjustment	Equity-settled compensation	Cash flow hedge	Other reserves	Treasury shares		Revaluation surplus	Reserve from the sale of non-controlling interests in subsidiaries	Retained earnings	Non- controlling interest
Balance at beginning of period at Dec. 31, 2018		$ 1,108,145	$ 1,063,636	$ 183,573	$ 900,503	$ (478,096)	$ 16,191	$ (56,884)	$ 32,380	$ (8,741)		$ 383,889	$ 41,574	$ 49,247	$ 44,509
Profit for the year		342	(772)											(772)	1,114
Exchange differences on translating foreign operations		(27,828)	(26,461)			(14,278)						(12,183)			(1,367)
Cash flow hedge, net of tax	[1]	(19,420)	(19,419)					(19,419)							(1)
Revaluation surplus	[2]	(31,929)	(28,785)									(28,785)			(3,144)
Reserve of the revaluation surplus derived from the disposals of assets	[3]	0										(5,044)		5,044
Other comprehensive income/ (loss) for the year		(79,177)	(74,665)			(14,278)		(19,419)				(46,012)		5,044	(4,512)
Total comprehensive income / (loss) for the year		(78,835)	(75,437)			(14,278)		(19,419)				(46,012)		4,272	(3,398)
Reserves for the benefit of government grants	[4]	0							34,791					(34,791)
Value of employee services		3,612	3,612				3,612
Restricted shares, vested		721	721		4,455		(4,449)			715
Restricted shares, forfeited		0							5	(5)
Restricted shares, granted		0							(1,129)	1,129
Purchase of own shares (Note 22)		(4,263)	(4,263)		(3,219)					(1,044)
Dividends		(497)													(497)
Balance at end of period at Dec. 31, 2019		1,028,883	988,269	183,573	901,739	(492,374)	15,354	(76,303)	66,047	(7,946)		337,877	41,574	18,728	40,614
Profit for the year		1,070	412											412	658
Exchange differences on translating foreign operations		(78,961)	(77,843)			(62,670)						(15,173)			(1,118)
Cash flow hedge, net of tax	[5]	(14,386)	(14,386)					(14,386)
Revaluation surplus	[6]	29,453	28,464									28,464			989
Reserve of the revaluation surplus derived from the disposals of assets	[7]	0										(7,598)		7,598
Other comprehensive income/ (loss) for the year		(63,894)	(63,765)			(62,670)		(14,386)				5,693		7,598	(129)
Total comprehensive income / (loss) for the year		(62,824)	(63,353)			(62,670)		(14,386)				5,693		8,010	529
Reserves for the benefit of government grants	[8]	0							18,067					(18,067)
Value of employee services		3,266	3,266				3,266
Restricted shares, vested		1,224	1,224		4,182		(3,825)		383	484
Restricted shares, forfeited		0							36	(36)
Restricted shares, granted		0							(1,127)	1,127
Purchase of own shares (Note 22)		(4,365)	(4,365)		(3,106)					(1,259)	[7]
Dividends		(2,460)													(2,460)
Balance at end of period at Dec. 31, 2020		963,724	925,041	183,573	902,815	(555,044)	14,795	(90,689)	83,406	(7,630)		343,570	41,574	8,671	38,683
Profit for the year		130,717	130,669											130,669	48
Exchange differences on translating foreign operations		121,146	112,166			40,435						71,731			8,980
Cash flow hedge, net of tax	[9]	29,758	29,757					29,757							1
Revaluation surplus	[10]	(136,622)	(125,319)									(125,319)			(11,303)
Other comprehensive income/ (loss) for the year		14,282	16,604			40,435		29,757				(53,588)		0	(2,322)
Total comprehensive income / (loss) for the year		144,999	147,273			40,435		29,757				(53,588)		130,669	(2,274)
Reserves for the benefit of government grants	[11]	0							23,605					(23,605)
Value of employee services		5,420	5,420				5,420
Restricted shares, vested		448	448		3,594		(4,142)		734	262
Restricted shares, forfeited		0							27	(27)
Restricted shares, granted		0							(1,600)	1,600
Purchase of own shares (Note 22)		(66,463)	(66,463)		(55,349)					(11,114)
Dividends		(298)													(298)
Balance at end of period at Dec. 31, 2021		$ 1,047,830	$ 1,011,719	$ 183,573	$ 851,060	$ (514,609)	$ 16,073	$ (60,932)	$ 106,172	$ (16,909)		$ 289,982	$ 41,574	$ 115,735	$ 36,111
[1]	Net of 6,752 of income tax.
[2]	Net of 10,480 of Income tax.
[3]	Net of 2,978 of Income tax
[4]	Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values in our Sugar, ethanol and energy business. (please see Note 24).
[5]	Net of 5,729 of Income tax
[6]	Net of 11,790 of Income tax.
[7]	Net of 3,458 of Income tax
[8]	Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values in our Sugar, ethanol and energy business. (please see Note 24).
[9]	Net of 2,526 of Income tax.
[10]	Net of 9,953 of Income tax.
[11]	Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values in our Sugar, ethanol and energy business. (please see Note 24).

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of changes in equity [abstract]
Income tax relating to cash flow hedges included in other comprehensive income	$ (2,526)	$ 5,729	$ 6,752
Income tax relating to changes in revaluation surplus included in other comprehensive income	$ 9,953	11,790	10,480
Income tax relating to changes in revaluation surplus derived from disposal of assets included in other comprehensive income		$ 3,458	$ 2,978

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Profit for the year		$ 130,717	$ 1,070	$ 342
Adjustments for:
Income tax expense		43,837	12,325	20,820
Depreciation		167,297	140,579	173,208
Amortization		1,631	1,293	1,231
Depreciation of right of use assets		49,199	40,820	45,168
Loss/ (gain) from the disposal of other property items		397	(2,198)	329
Gain from the sale of farmland and other assets		0	(2,064)	(1,354)
Loss / (Gain) from the sale of subsidiary		(10)	554	0
Gain on acquisition of subsidiaries		0	0	(149)
Net loss/(gain)from the fair value adjustment of Investment properties		4,331	(1,077)	325
Equity settled share-based compensation granted		6,406	4,316	4,734
Loss / (gain) from derivative financial instruments and forwards		17,276	10,058	(469)
Interest, finance cost related to lease liabilities and other financial expense, net		75,610	47,686	62,653
Initial recognition and changes in fair value of non harvested biological assets (unrealized)		(11,310)	(32,975)	(1,720)
Changes in net realizable value of agricultural produce after harvest (unrealized)		4,001	481	481
Provision and allowances		1,146	1,940	2,778
Net gain of inflation effects on the monetary items		(11,541)	(12,064)	(92,437)
Foreign exchange (gains)/ losses, net		(18,939)	109,266	108,458
Cash flow hedge – transfer from equity		52,650	24,363	15,594
Subtotal		512,698	344,373	339,992
Changes in operating assets and liabilities:
Increase in trade and other receivables		(40,449)	(55,233)	(17,664)
(Increase) / Decrease in inventories		(102,815)	(30,165)	9,998
Decrease / (Increase) in biological assets		7,597	(10,290)	(27,037)
Increase in other assets		(303)	(35)	(210)
(Increase) / Decrease in derivative financial instruments		(29,319)	5,234	3,997
(Decrease) / Increase in trade and other payables		(1,499)	828	13,102
Increase in payroll and social security liabilities		4,874	4,120	2,565
Increase / (Decrease) in provisions for other liabilities		74	380	(351)
Net cash generated from operating activities before taxes paid		350,858	259,212	324,392
Income tax paid		(2,196)	(2,087)	(2,282)
Net cash generated from operating activities	[1]	348,662	257,125	322,110
Cash flows from investing activities:
Acquisition of business, net of cash and cash equivalents acquired		0	0	683
Purchases of property, plant and equipment		(199,295)	(168,529)	(252,450)
Purchase of cattle and non current biological assets		(11,776)	(7,339)	(4,950)
Purchases of intangible assets		(1,934)	(1,122)	(8,617)
Interest received and others		16,729	25,421	7,210
Proceeds from disposal of other property items		2,946	3,482	2,652
Proceeds from the sale of farmland and other assets		8,099	16,022	5,833
Proceeds from the sale of subsidiary		10,010	10,149	0
Net cash used in investing activities	[2]	(175,221)	(121,916)	(249,639)
Cash flows from financing activities:
Proceeds from long-term borrowings		30,972	116,015	108,271
Payments of long-term borrowings		(108,425)	(34,750)	(101,826)
Proceeds from short-term borrowings		286,115	207,217	193,977
Payments of short-term borrowings		(328,463)	(233,540)	(131,521)
Interest paid	[3]	(53,587)	(60,026)	(53,996)
Borrowings prepayment related expenses		(3,068)	0	0
Collections / (Payments) of derivatives financial instruments		2,370	(1,687)	1,481
Lease payments		(62,273)	(40,336)	(49,081)
Purchase of own shares		(66,463)	(4,365)	(4,263)
Dividends paid to non-controlling interest		(311)	(2,447)	(905)
Net cash used from financing activities	[4]	(303,133)	(53,919)	(37,863)
Net (decrease)/ increase in cash and cash equivalents		(129,692)	81,290	34,608
Cash and cash equivalents at beginning of year		336,282	290,276	273,635
Effect of exchange rate changes and inflation on cash and cash equivalents	[5]	(6,824)	(35,284)	(17,967)
Cash and cash equivalents at end of year		$ 199,766	$ 336,282	$ 290,276
[1]	Includes (30,666), (14,956) and 23,550 of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.
[2]	Includes (4,694), (429) and 3,851 of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.
[3]	Includes (1,109), (1,638) and (14,340) of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.
[4]	Includes 41,237, 15,694 and (13,061) of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.
[5]	Includes (5,877), (309) and nil of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2019
Entity Information [Line Items]
Net cash generated from operating activities	[1]	$ 348,662		$ 257,125	$ 322,110
Net cash used in investing activities	[2]	(175,221)		(121,916)	(249,639)
Interest paid, classified as financing activities	[3]	53,587		60,026	53,996
Net cash (used) / generated from financing activities	[4]	(303,133)		(53,919)	(37,863)
Effect of exchange rate changes and inflation on cash and cash equivalents	[5]	(6,824)		(35,284)	(17,967)
Argentine subsidiaries
Entity Information [Line Items]
Net cash generated from operating activities		(30,666)	[1]	(14,956)	23,550
Net cash used in investing activities		(4,694)	[2]	(429)	3,851
Interest paid, classified as financing activities		1,109		1,638	14,340
Net cash (used) / generated from financing activities		41,237	[4]	15,694	(13,061)
Effect of exchange rate changes and inflation on cash and cash equivalents		$ (5,877)	[5]	$ (309)	$ 0
[1]	Includes (30,666), (14,956) and 23,550 of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.
[2]	Includes (4,694), (429) and 3,851 of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.
[3]	Includes (1,109), (1,638) and (14,340) of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.
[4]	Includes 41,237, 15,694 and (13,061) of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.
[5]	Includes (5,877), (309) and nil of the combined effect of IAS 29 and IAS 21 of the Argentine subsidiaries for 2021, 2020 and 2019 , respectively.

General information

General information	12 Months Ended
	Dec. 31, 2021
Disclosure of General Information About Financial Statements [Abstract]
General information	General information Adecoagro S.A. (the "Company" or "Adecoagro") is the Group’s ultimate parent company and is a société anonyme (stock corporation) organized under the laws of the Grand Duchy of Luxembourg. Adecoagro is a holding company primarily engaged through its operating subsidiaries in agricultural and agro-industrial activities. The Company and its operating subsidiaries are collectively referred to hereinafter as the "Group." These activities are carried out through three major lines of business, namely, Farming; Sugar, Ethanol and Energy and Land Transformation. Farming is further comprised of three reportable segments, which are described in detail in Note 3 to these Consolidated Financial Statements. Adecoagro is a Public Company listed in the New York Stock Exchange as a foreign registered company under the symbol of AGRO. These Consolidated Financial Statements have been approved for issue by the Board of Directors on April 28, 2022.

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Financial risk management	Financial risk management Risk management principles and processes The Group’s activities are exposed to a variety of financial risks. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize the Group’s capital costs by using suitable means of financing and to manage and control the Group’s financial risks effectively. The Group uses financial instruments to hedge certain risk exposures. The Group’s approach to the identification, assessment and mitigation of risk is carried out by a Risk and Commercial Committee, which focuses on timely and appropriate management of risk. The principal financial risks are related to raw material price, end-product price, exchange rate, interest rate, liquidity and credit. This section provides a description of the principal risks and uncertainties that could have a material adverse effect on the Group’s strategy, performance, results of operations and financial condition. These risks do not appear in any particular order of potential materiality or probability of occurrence. In Argentina, ongoing economical events forced the government to impose certain restrictions in the exchange markets, such as: – Dividends payments to non residents. – Set specific deadlines to enter and settle exports – Prior authorization of the BCRA for the formation of external assets for companies – Prior authorization of the BCRA for the payment of debts related to companies abroad – Deferral of payment of certain public debt instruments. – Fuel price control • Exchange rate risk The Group’s cash flows, statement of income and statement of financial position are presented in U.S. Dollars and may be affected by fluctuations in exchange rates. Currency risks as defined by IFRS 7 arise on account of monetary assets and liabilities being denominated in a currency that is not the functional currency. A significant majority of the Group’s business activities is conducted in the respective functional currencies of the subsidiaries (primarily the Brazilian Reais and the Argentine Peso). However, the Group may transact in currencies other than the respective functional currencies, mainly the U.S. Dollars. As such, these subsidiaries may hold U.S. Dollar denominated monetary balances at each year-end as indicated in the tables below. The Group’s net financial position exposure to the U.S. Dollar is managed on a case-by-case basis, partly by hedging certain expected cash flows with foreign exchange derivative contracts. The following tables show the net monetary position of the respective subsidiaries within the Group categorized by functional currency. Non-U.S. Dollar amounts are presented in U.S. Dollars for purpose of these tables. 2021 Subsidiaries’ functional currency Net monetary position Argentine Brazilian Uruguayan U.S. Dollar Total Argentine Peso (33,002) — — — (33,002) Brazilian Reais — (396,288) — — (396,288) U.S. Dollar (267,448) (270,213) 21,773 30,490 (485,398) Uruguayan Peso — — (1,837) — (1,837) Total (300,450) (666,501) 19,936 30,490 (916,525) 2020 Subsidiaries’ functional currency Net monetary position Argentine Brazilian Uruguayan U.S. Dollar Total Argentine Peso (115,097) — — (288) (115,385) Brazilian Reais — (298,039) — — (298,039) U.S. Dollar (193,353) (307,611) 20,720 47,122 (433,122) Uruguayan Peso — — (655) — (655) Total (308,450) (605,650) 20,065 46,834 (847,201) The Group’s analysis shown on the tables below is carried out based on the exposure of each functional currency subsidiary against the U.S. Dollar. The Group estimated that, other factors being constant, a hypothetical 10% appreciation/(depreciation) of the U.S. Dollar against the respective functional currencies for the years ended December 31, 2021 and 2020 would have (decreased)/increased the Group’s Profit before income tax for the year. A portion of this effect would have been recognized as other comprehensive income since a portion of the Company’s borrowings was used as cash flow hedge of the foreign exchange rate risk of a portion of its highly probable future sales in U.S. Dollars (see Hedge Accounting - Cash Flow Hedge below for details). Functional currency Net monetary position Argentine Brazilian Uruguayan Total 2021 U.S. Dollar (26,745) (27,021) 2,177 (51,589) 2020 U.S. Dollar (19,335) (30,761) 2,072 (48,024) The tables above only consider the effect of a hypothetical appreciation / depreciation of the U.S. Dollars on the Group’s net financial position. A hypothetical appreciation / depreciation of the U.S. Dollar against the functional currencies of the Group’s subsidiaries has historically had a positive / negative effect, respectively, on the fair value of the Group’s biological assets and the end prices of the Group’s agriculture produce, both of which are generally linked to the U.S. Dollar. Hedge Accounting Cash Flow Hedge Effective July 1, 2013, the Group formally documented and designated cash flow hedging relationships to hedge the foreign exchange rate risk of a portion of its highly probable future sales in U.S. Dollars using a portion of its borrowings denominated in U.S. Dollars, currency forwards and foreign currency floating-to-fixed interest rate swaps. Principal amounts of long-term borrowings (non-derivative financial instruments) and notional values of foreign currency forward contracts (derivative financial instruments) were designated as hedging instruments. These instruments are exposed to Brazilian Reais/ U.S. Dollar foreign currency risks related to operations in Brazil and Argentine Peso/U.S. Dollar in Argentina, respectively. As of December 31, 2021 and 2020, approximately 10% and 15%, respectively, of projected sales qualify as highly probable forecast transactions for hedge accounting purposes and were designated as hedged items. The Group has prepared formal documentation in order to support the designation above, including an explanation of how the designation of the hedging relationship is aligned with the Group’s Risk Management Policy, identification of the hedging instrument, the hedged transactions, the nature of the risk being hedged and an analysis which demonstrates that the hedge is expected to be highly effective. The Group reassesses the prospective and retrospective effectiveness of the hedge on an ongoing basis comparing the foreign currency component of the carrying amount of the hedging instruments and of the highly probable future sales. Under cash flow hedge accounting, effect of changes in foreign currency exchange rates on derivative and non-derivative hedging instruments not be immediately recognized in profit or loss, but be reclassified from equity to profit or loss in the periods when the future sales occur, thus allowing for a more appropriate presentation of the results for the period reflecting the strategy in the Group’s Risk Management Policy. The Company expects that the cash flows will occur and affect profit or loss between 2022 and 2026. For the year ended December 31, 2021, a total amount before income tax of US$10,565 gain (US$46,145 gain in 2020) was recognized in other comprehensive income and an amount of US$42,848 loss (US$26,031 loss in 2020) was reclassified from equity to profit or loss within “Financial results, net”. • Raw material price risk Inflation in the costs of raw materials and goods and services from industry suppliers and manufacturers presents risks to project economics. A significant portion of the Group’s cost structure includes the cost of raw materials primarily seeds, fertilizers and agrochemicals, among others. Prices for these raw materials may vary significantly. • End-product price risk Prices for commodity products have historically been cyclical, reflecting overall economic conditions and changes in capacity within the industry, which affect the profitability of entities engaged in the agribusiness industry. The Group combines different actions to minimize price risk. A percentage of crops are to be sold during and post harvest period. The Group manages minimum and maximum prices for each commodity as well as gross margin per each crop as to decide when and how to sell. End-product price risks are hedged if economically viable and possible by entering into forward contracts with major trading houses or by using derivative financial instruments, consisting mainly of crops and sugar future contracts, but also includes occasionally put and call options. A movement in end-product futures prices would result in a change in the fair value of the end product hedging contracts. These fair value changes, after taxes, are recorded in the consolidated statement of income. Contract positions are designed to ensure that the Group would receive a defined minimum price for certain quantities of its production. The counterparties to these instruments generally are major financial institutions. In entering into these contracts, the Group has assumed the risk that might arise from the possible inability of counterparties to meet the terms of their contracts. The Group does not expect any material losses as a result of counterparty defaults. The Group is also obliged to pay margin deposits and premiums for these instruments. These estimates represent only the sensitivity of the financial instruments to market risk and not the Group exposure to end product price risks as a whole, since the crops and cattle products sales are not financial instruments within the scope of IFRS 7 disclosure requirements. Liquidity risk The Group is exposed to liquidity risks, including risks associated with refinancing borrowings as they mature, and that borrowing facilities are not available to meet cash requirements. Failure to manage liquidity risks could have a material impact on the Group’s cash flow and statement of financial position. Prudent liquidity risk management includes managing the profile of debt maturities and funding sources close oversight of cash flows projections, maintaining sufficient cash, and ensuring the availability of funding from an adequate amount of committed credit facilities and the ability to close out market positions. The Group's ability to fund its existing and prospective debt requirements is managed by maintaining diversified funding sources with adequate available funding lines from high quality lenders; and reaching to have long-term financial facilities. As of December 31, 2021, cash and cash equivalents of the Group totaled US$199.8 million, which could be used for managing liquidity risk. The tables below analyzes the Group’s non-derivative financial liabilities and derivative financial liabilities into relevant maturity groupings based on the remaining period at the statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows and as a result they do not reconcile to the amounts disclosed on the statement of financial position except for short-term payables where discounting is not applied. At December 31, 2021 Less than Between Between 2 Over Total Trade and other payables 153,175 15 22 247 153,459 Borrowings 153,311 57,849 245,538 577,178 1,033,876 Leases Liabilities 53,384 53,172 122,625 123,180 352,361 Derivative financial instruments 1,283 — — — 1,283 Total 361,153 111,036 368,185 700,605 1,540,979 At December 31, 2020 Less than Between Between 2 Over Total Trade and other payables 114,523 15 22 253 114,813 Borrowings 286,588 132,266 197,941 713,321 1,330,116 Leases Liabilities 36,714 20,608 74,565 65,639 197,526 Derivative financial instruments 13,141 — — — 13,141 Total 450,966 152,889 272,528 779,213 1,655,596 • Interest rate risk The Group’s interest rate risk arises from long-term borrowings at floating rates, which expose the Group to cash flow interest rate risk. Borrowings issued at fixed rates expose the Group to fair value interest rate risk. The interest rate profile of the Group's borrowings is set out in Note 26. The Group occasionally manages its cash flow interest rate risk exposure by using floating-to-fixed interest rate swaps. Such interest rate swaps have the economic effect of converting borrowings from floating rates to fixed rates. The following tables show a breakdown of the Group’s fixed-rate and floating-rate borrowings per currency denomination and functional currency of the subsidiary debt holder. These analyses are performed after giving effect to interest rate swaps. The analysis for the year ended December 31, 2021 and 2020 is as follows: 2021 Subsidiaries’ functional currency Rate per currency denomination Argentine Brazilian Uruguayan U.S. Dollar Total Fixed rate: Argentine Peso 11,769 — — — 11,769 Brazilian Reais — 10,887 — — 10,887 U.S. Dollar 96,456 342,522 — 165,173 604,151 Subtotal fixed-rate borrowings 108,225 353,409 — 165,173 626,807 Variable rate: Brazilian Reais — 169,597 — — 169,597 U.S. Dollar 19,793 1,454 — — 21,247 Subtotal variable-rate borrowings 19,793 171,051 — — 190,844 Total borrowings as per statement of financial position 128,018 524,460 — 165,173 817,651 2020 Subsidiaries’ functional currency Rate per currency denomination Argentine Brazilian Uruguayan U.S. Dollar Total Fixed rate: Argentine Peso 81,283 — — — 81,283 Brazilian Reais — 22,834 — — 22,834 U.S. Dollar 30,671 423,286 2,002 157,565 613,524 Subtotal fixed-rate borrowings 111,954 446,120 2,002 157,565 717,641 Variable rate: Brazilian Reais — 184,123 — — 184,123 U.S. Dollar 66,584 2,742 — — 69,326 Subtotal variable-rate borrowings 66,584 186,865 — — 253,449 Total borrowings as per statement of financial position 178,538 632,985 2,002 157,565 971,090 For the years ended December 31, 2021 and 2020, if interest rates on floating-rate borrowings had been 1% higher with all other variables held constant, the Group’s Profit before income tax for the years would have decreased as shown below. A 1% decrease in interest rates would have an equal and opposite effect on the income statement. 2021 Subsidiaries’ functional currency Rate per currency denomination Argentine Brazilian Uruguayan U.S. Dollar Total Variable rate: Brazilian Reais — (2) — — (2) U.S. Dollar — — — — Total effects on profit before income tax — (2) — — (2) 2020 Subsidiaries’ functional currency Rate per currency denomination Argentine Brazilian Uruguayan U.S. Dollar Total Variable rate: Brazilian Reais — (1,841) — — (1,841) U.S. Dollar (666) (27) — — (693) Total effects on profit before income tax (666) (1,868) — — (2,534) The sensitivity analysis has been determined assuming that the change in interest rates had occurred at the date of the statement of financial position and had been applied to the exposure to interest rate risk for financial instruments in existence at that date. The 100 basis point increase or decrease represents management's assessment of a reasonable possible change in those interest rates, which have the most impact on the Group, specifically the United States and Brazilian rates over the period until the next annual statement of financial position date. • Credit risk The Group’s exposures to credit risk arise in certain agreements in relation to amounts owed for physical product sales, the use of derivative instruments, and the investment of surplus cash balances. The Group is also exposed to political and economic risk events, which may cause non-payment of foreign currency obligations to the Group. The Group’s policy is to manage credit exposure to trading counterparties within defined trading limits. All of the Group’s significant counterparties are assigned internal credit limits. The Group sells to a large base of customers. Type and class of customers may differ depending on the Group’s business segments. For the years ended December 31, 2021 and 2020, more than 73% and 80%, respectively, of the Group’s sales of crops were sold to 27 and 36 well-known customers (both multinational and local) with good credit history with the Group. In the Sugar, Ethanol and Energy segment, sales of ethanol were concentrated in 39 and 52 customers, which represented 100% of total sales of ethanol for the years ended December 31, 2021 and 2020, respectively. Approximately 86% and 78% of the Group’s sales of sugar were concentrated in 124 and 76 well-known traders for the years ended December 31, 2021 and 2020, respectively. In 2021 and 2020, energy sales are 95% and 96% concentrated in 72 and 52 major customers. In the dairy segment, 67% and 65% of the sales were concentrated in 18 and 21 well-known customers in 2021 and 2020, respectively. No credit limits were exceeded during the reporting periods and management does not expect any losses from non-performance by these counterparties. If any of the Group’s customers are independently rated, these ratings are used. Otherwise, the Group assesses the credit quality of the customer taking into account its financial position, past experience and other factors (see Note 17 for details). The Group may seek cash collateral, letter of credit or parent company guarantees, as considered appropriate. Sales to customers are primarily made by credit with customary payment terms. The maximum exposure to credit risk is represented by the carrying amount of each financial asset in the statement of financial position after deducting any impairment allowance. The Group’s exposure of credit risk arising from trade receivables is set out in Note 18. The Group is exposed to counterparty credit risk on cash and cash equivalent balances. The Group holds cash on deposit with a number of financial institutions. The Group manages its credit risk exposure by limiting individual deposits to clearly defined limits. The Group only deposits with high quality banks and financial institutions. As of December 31, 2021 and 2020, the total amount of cash and cash equivalents mainly comprise cash in banks and short-term bank deposits. The Group is authorized to transact with banks rated “BBB+” or higher. As of December 31, 2021 and 2020, 4 and 6 banks (primarily JP Morgan, Banco Galicia, HSBC and Banco Itaú) accounted for more than 81% and 81%, respectively, of the total cash deposited. The remaining amount of cash and cash equivalents relates to cash in hand. Additionally, during the year ended December 31, 2021, the Group invested in fixed-term bank deposits with mainly three bank (Santander, Banco do Brasil and HSBC) and also entered into derivative contracts (currency forward). The Group’s exposure of credit risk arising from cash and cash equivalents is set out in Note 20. The Group’s primary objective for holding derivative financial instruments is to manage currency exchange rate risk, interest rate risk and commodity price risk. The Group generally enters into derivative transactions with high-credit-quality counterparties and, by policy, limits the amount of credit exposure to any one counterparty based on an analysis of that counterparty's relative credit standing. The amounts subject to credit risk related to derivative instruments are generally limited to the amounts, if any, by which counterparty's obligations exceed the obligations with that counterparty. The Group also entered into crop commodity futures traded in the established trading markets of Argentina and Brazil through well-rated brokers. Management does not expect any counterparty to fail to meet its obligations. • Capital risk management The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, it may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or buy own shares or sell assets to reduce debt. Consistent with others in the industry, the Group monitors capital on the basis of the gearing ratio. This ratio is calculated as total debt (including current and non-current borrowings as shown in the consolidated statement of financial position, if applicable) divided by total capital. Total capital is calculated as equity, as shown in the consolidated statement of financial position, plus total borrowings. During the year ended December 31, 2021, the strategy was to maintain the gearing ratio within 0.40 to 0.60, as follows: 2021 2020 Total borrowings 817,651 971,090 Total equity 1,047,830 963,724 Total capital 1,865,481 1,934,814 Gearing ratio 0.44 0.50 • Derivative financial instruments As part of its business operations, the Group uses a variety of derivative financial instruments to manage its exposure to the financial risks discussed above. As part of this strategy, the Group may enter into derivatives of (i) interest rate to manage the composition of floating and fixed rate debt; (ii) currency to manage exchange rate risk, and (iii) crop (future contracts and put and call options) to manage its exposure to price volatility stemming from its integrated crop production activities. The Group’s policy is not to use derivatives for speculative purposes. Derivative financial instruments involve, to a varying degree, elements of market and credit risk not recognized in the financial statements. The market risk associated with these instruments resulting from price movements is expected to offset the market risk of the underlying transactions, assets and liabilities, being hedged. The counterparties to the agreements relating to the Group’s contracts generally are large institutions with credit ratings equal to or higher than BBB+. The Group continually monitors the credit rating of such counterparties and seeks to limit its financial exposure to any one financial institution. While the contract or notional amounts of derivative financial instruments provide one measure of the volume of these transactions, they do not represent the amount of the Group’s exposure to credit risk. The amounts potentially subject to credit risk (arising from the possible inability of counterparties to meet the terms of their contracts) are generally limited to the amounts, if any, by which the counterparties’ obligations under the contracts exceed the Group’s obligations to the counterparties. The following tables show the outstanding positions for each type of derivative contract as of the date of each statement of financial position: ▪ Futures/ options As of December 31, 2021: 2021 Type of Quantities Notional Fair (Loss)/Gain Futures: Sale Corn 6 935 157 157 Soybean 55 17,782 (1,283) (1,283) Sugar 87 35,922 671 292 Total 148 54,639 (455) (834) As of December 31, 2020: 2020 Type of Quantities Notional Fair (Loss)/Gain Futures: Sale Corn 52 6,027 (2,846) 2,846 Soybean 32 7,242 (3,380) 3,380 Wheat (19) (4,272) 151 (151) Sugar 217 63,025 (6,738) 5,538 Ethanol 1 277 (20) 3 Total 283 72,299 (12,833) 11,616 (*) Included in the line item “(Loss) / Gain from commodity derivative financial instruments” of Note 8. (**) All quantities expressed in tons and m 3 . Commodity future contract fair values are computed with reference to quoted market prices on future exchanges. ▪ Interest rate swap In December 31, 2020 the Group's subsidiary in Brazil, Adecoagro Vale do Ivinhema entered into a interest rate swap operation with Itaú BBA in an aggregate amount of US$400 million. In these operation Adecoagro Vale do Ivinhema receives IPCA (Extended National Consumer Price Index) plus 4.24% per year, and pays CDI (an interbank floating interest rate in Reais) plus 1.85% per year. This swap expires semiannually until December, 2026. This contract resulted in a recognition of a loss of US$2.1 million in 2021 and a gain of US$1.8 million in 2020. ▪ Currency forward During the year ended December 31, 2021 the Group did not enter into no currency forward contracts with Brazilian banks. During the year ended December 31, 2020 the Group entered into several currency forward contracts with Brazilian banks in order to hedge the fluctuation of the Brazilian Reais against the U.S. Dollar. These contracts resulted in a recognition of a loss of US$1.9 million in 2020. Gains and losses on currency forward contracts are included within “Financial results, net” in the statement of income.

Segment information

Segment information	12 Months Ended
	Dec. 31, 2021
Disclosure of operating segments [abstract]
Segment information	Segment information According to IFRS 8, operating segments are identified based on the ‘management approach’. Operating segments are components of an entity about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Group’s CODM is the Management Committee. IFRS 8 stipulates external segment reporting based on the Group’s internal organizational and management structure and on internal financial reporting to the chief operating decision maker. The Group operates in three major lines of business, namely, Farming; Sugar, Ethanol and Energy; and Land Transformation. • The Company’s ‘Farming’ is further comprised of three reportable segments: • The Company’s ‘Crops’ Segment consists of planting, harvesting and sale of grains, oilseeds and fibers (including wheat, corn, soybeans, peanuts, cotton and sunflowers, among others), and to a lesser extent the provision of grain warehousing/conditioning and handling and drying services to third parties. Each underlying crop in this segment does not represent a separate operating segment. Management seeks to maximize the use of the land through the cultivation of one or more type of crops. Types and surface amount of crops cultivated may vary from harvest year to harvest year depending on several factors, some of them out of the Group’s control. Management is focused on the long-term performance of the productive land, and to that extent, the performance is assessed considering the aggregated combination, if any, of crops planted in the land. A single manager is responsible for the management of operating activity of all crops rather than for each individual crop. • The Company’s ‘Rice’ Segment consists of planting, harvesting, processing and marketing of rice. • The Company’s ‘Dairy’ Segment consists of the production and sale of raw milk and industrialized products, including UHT, cheese and powder milk among others. • The Company’s ‘All Other Segments’ consists of the aggregation of the remaining non-reportable operating segments, which do not meet the quantitative thresholds for disclosure, namely, Coffee and Cattle. • The Company’s ‘Sugar, Ethanol and Energy’ Segment consists of cultivating sugarcane which is processed in owned sugar mills, transformed into ethanol, sugar and electricity and marketed; • The Company’s ‘Land Transformation’ Segment comprises the (i) identification and acquisition of underdeveloped and undermanaged farmland businesses; and (ii) realization of value through the strategic disposition of assets (generating profits). Total segment assets and liabilities are measured in a manner consistent with that of the Consolidated Financial Statements. These assets and liabilities are allocated based on the operations of the segment and the physical location of the asset. Effective July 1, 2018, the Group applied IAS 29 “Financial Reporting in Hyperinflationary Economies” (“IAS 29”) to its operations in Argentina. IAS 29 “Financial Reporting in Hyperinflationary Economies” requires that the financial statements of entities whose functional currency is that of a hyperinflationary economy be adjusted for the effects of changes in the general price index and be expressed in terms of the current unit of measurement at the closing date of the reporting period (“inflation accounting”). In order to determine whether an economy is classified as hyperinflationary, IAS 29 sets forth a series of factors to be considered, including whether the amount of cumulative inflation nears or exceeds a threshold of 100 % accumulated in three years. Accordingly, Argentina has been classified as a hyperinflationary economy under the terms of IAS 29 from July 1, 2018. (Please see Note 33 - Basis of preparation and presentations). According to IAS 29, all Argentine Peso-denominated non-monetary items in the statement of financial position are adjusted by applying a general price index from the date they were initially recognized to the end of the reporting period. Likewise, all Argentine Peso-denominated items in the statement of income should be expressed in terms of the measuring unit current at the end of the reporting period, consequently, income statement items are adjusted by applying a general price index on a monthly basis from the dates they were initially recognized in the financial statements to the end of the reporting period. This process is called “re-measurement”. Once the re-measurement process is completed, all Argentine Peso denominated accounts are translated into U.S. Dollars, the Group’s reporting currency, applying the guidelines in IAS 21 “The Effects of Changes in Foreign Exchange Rates”(“IAS 21”). IAS 21 requires that amounts be translated at the closing rate at the date of the most recent statement of financial position. This process is called “translation”. The re-measurement and translation processes are applied on a monthly basis until year-end. Due to this process, the re-measured and translated results of operations for a given month are subject to change until year-end, affecting comparison and analysis. Following the adoption of IAS 29 to the Argentine operations of the Group, management revised the information reviewed by the CODM. Accordingly, as from July 1, 2018, (commencement of hyper-inflation accounting in Argentina), the information provided to the CODM departs from the application of IAS 29 and IAS 21 re-measurement and translation processes as follows. The segment results of the Argentinean operations for each reporting period were adjusted for inflation and translated into the Group’s reporting currency using the reporting period average exchange rate. The translated amounts were not subsequently re-measured and translated in accordance with the IAS 29 and IAS 21 procedures outlined above. In order to evaluate the economic performance of businesses on a monthly basis, results of operations in Argentina are based on monthly data that has been adjusted for inflation and converted into the average exchange rate of the U.S. Dollar each month. These already converted figures are subsequently not readjusted and reconverted as described above under IAS 29 and IAS 21. It should be noted that this translation methodology for evaluating segment information is the same that the company uses to translate results of operation from its other subsidiaries from other countries that have not been designated hyperinflationary economies because it allows for a more accurate analysis of the economic performance of its business as a whole. The Group’s CODM believes that the exclusion of the re-measurement and translation processes from the segment reporting structure allows for a more useful presentation and facilitates period-to-period comparison and performance analysis. The following tables show a reconciliation of each reportable segment as per the information reviewed by the CODM and the reportable segment measured in accordance with IAS 29 and IAS 21 as per the Consolidated Financial Statements for the years ended December 31, 2021, 2020 and 2019. Segment reconciliation for the year ended December 31, 2021: 2021 Crops Rice Dairy Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 228,894 11,836 240,730 130,526 4,343 134,869 172,803 10,251 183,054 Cost of goods and services rendered (203,148) (10,083) (213,231) (109,709) (2,336) (112,045) (149,738) (8,339) (158,077) Initial recognition and changes in fair value of biological assets and agricultural produce 65,704 8,286 73,990 37,119 6,715 43,834 18,336 1,559 19,895 Gain from changes in net realizable value of agricultural produce after harvest (10,163) (1,221) (11,384) — — — — — — Margin on Manufacturing and Agricultural Activities Before Operating Expenses 81,287 8,818 90,105 57,936 8,722 66,658 41,401 3,471 44,872 General and administrative expenses (10,273) (827) (11,100) (8,891) (869) (9,760) (4,715) (541) (5,256) Selling expenses (21,925) (1,494) (23,419) (16,618) (1,490) (18,108) (20,779) (1,793) (22,572) Other operating income, net (3,538) (185) (3,723) 239 46 285 (150) (20) (170) Profit from Operations Before Financing and Taxation 45,551 6,312 51,863 32,666 6,409 39,075 15,757 1,117 16,874 Depreciation and amortization (6,501) (634) (7,135) (8,080) (814) (8,894) (7,144) (797) (7,941) Net (loss) / gain from Fair value adjustment of investment property — — — — — — — — — 2021 All other segments Land transformation Corporate Total Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 3,490 199 3,689 — — — — — — 1,097,723 26,629 1,124,352 Cost of goods and services rendered (2,966) (145) (3,111) — — — — — — (834,062) (20,903) (854,965) Initial recognition and changes in fair value of biological assets and agricultural produce 1,380 (18) 1,362 — — — — — — 211,198 16,542 227,740 Gain from changes in net realizable value of agricultural produce after harvest — — — — — — — — — (11,658) (1,221) (12,879) Margin on Manufacturing and Agricultural Activities Before Operating Expenses 1,904 36 1,940 — — — — — — 463,201 21,047 484,248 General and administrative expenses (173) (14) (187) — — — (22,119) (1,908) (24,027) (65,635) (4,159) (69,794) Selling expenses (273) (17) (290) — — — (306) (21) (327) (112,847) (4,815) (117,662) Other operating income, net (3,995) (470) (4,465) 6,613 — 6,613 103 (21) 82 (18,118) (650) (18,768) Profit from Operations Before Financing and Taxation (2,537) (465) (3,002) 6,613 — 6,613 (22,322) (1,950) (24,272) 266,601 11,423 278,024 Depreciation and amortization (175) (15) (190) — — — (738) (49) (787) (166,619) (2,309) (168,928) Net (loss) / gain from Fair value adjustment of investment property (3,884) (447) (4,331) — — — — — — (3,884) (447) (4,331) Sugar, Ethanol and Energy segment has not been reconciled due to the lack of difference. Segment reconciliation for the year ended December 31, 2020: 2020 Crops Rice Dairy Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 170,114 (1,653) 168,461 102,886 (1,024) 101,862 135,471 (1,997) 133,474 Cost of goods and services rendered (150,745) 1,495 (149,250) (74,395) 565 (73,830) (117,754) 1,747 (116,007) Initial recognition and changes in fair value of biological assets and agricultural produce 41,038 (934) 40,104 19,449 (772) 18,677 12,638 (294) 12,344 Gain from changes in net realizable value of agricultural produce after harvest 7,078 (71) 7,007 — — — (2) — (2) Margin on Manufacturing and Agricultural Activities Before Operating Expenses 67,485 (1,163) 67,061 47,940 (1,231) 46,709 30,353 (544) 29,809 General and administrative expenses (6,816) 122 (6,694) (7,045) 146 (6,899) (4,896) 108 (4,788) Selling expenses (18,265) 267 (17,998) (14,170) 247 (13,923) (13,824) 284 (13,540) Other operating income, net (12,846) (7) (12,853) 731 (18) 713 (189) 3 (186) Profit from Operations Before Financing and Taxation 29,558 (781) 29,516 27,456 (856) 26,600 11,444 (149) 11,295 Depreciation and amortization (5,397) 111 (5,286) (6,652) 147 (6,505) (6,709) 141 (6,568) Net (loss) / gain from Fair value adjustment of investment property — — — — — — — — — 2020 All other segments Land transformation Corporate Total Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 2,545 (37) 2,508 — — — — — — 822,475 (4,711) 817,764 Cost of goods and services rendered (1,984) 22 (1,962) — — — — — — (615,775) 3,829 (611,946) Initial recognition and changes in fair value of biological assets and agricultural produce 1,269 (13) 1,256 — — — — — — 124,742 (2,013) 122,729 Gain from changes in net realizable value of agricultural produce after harvest — — — — — — — — — 7,076 (71) 7,005 Margin on Manufacturing and Agricultural Activities Before Operating Expenses 1,830 (28) 1,802 — — — — — — 338,518 (2,966) 335,552 General and administrative expenses (120) 2 (118) — (4) (4) (19,319) 336 (18,983) (54,138) 710 (53,428) Selling expenses (217) 3 (214) — — — (202) 7 (195) (95,866) 808 (95,058) Other operating income, net 1,069 (2) 1,067 7,934 (14) 7,920 (161) (8) (169) 2,033 (46) 1,987 Profit from Operations Before Financing and Taxation 2,562 (25) 2,537 7,934 (18) 7,916 (19,682) 335 (19,347) 190,547 (1,494) 189,053 Depreciation and amortization (138) 3 (135) — — — (876) 14 (862) (142,288) 416 (141,872) Net (loss) / gain from Fair value adjustment of investment property 1,080 (3) 1,077 — — — — — — 1,080 (3) 1,077 Sugar, Ethanol and Energy, and Land Transformation segments have not been reconciled due to the lack of differences. Segment reconciliation for the year ended December 31, 2019: 2019 Crops Rice Dairy Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 168,938 (2,492) 166,446 102,162 (1,006) 101,156 84,767 (945) 83,822 Cost of goods and services rendered (159,197) 2,687 (156,510) (74,480) 529 (73,951) (77,532) 838 (76,694) Initial recognition and changes in fair value of biological assets and agricultural produce 30,290 (549) 29,741 13,194 (979) 12,215 13,741 (231) 13,510 Gain from changes in net realizable value of agricultural produce after harvest 1,542 283 1,825 — — — — — — Margin on Manufacturing and Agricultural Activities Before Operating Expenses 41,573 (71) 41,502 40,876 (1,456) 39,420 20,976 (338) 20,638 General and administrative expenses (5,446) (87) (5,533) (6,752) 147 (6,605) (4,188) 90 (4,098) Selling expenses (12,852) 128 (12,724) (21,072) 498 (20,574) (6,252) 18 (6,234) Other operating income, net (2,283) (225) (2,508) 282 (15) 267 (635) (68) (703) Profit from Operations Before Financing and Taxation 20,992 (255) 20,737 13,334 (826) 12,508 9,901 (298) 9,603 Depreciation and amortization (4,662) (137) (4,799) (6,994) 171 (6,823) (5,064) 98 (4,966) Net (loss) / gain from Fair value adjustment of investment property — — — — — — — — — 2019 All other segments Corporate Total Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 3,904 27 3,931 — — — 891,554 (4,416) 887,138 Cost of goods and services rendered (3,412) (40) (3,452) — — — (675,187) 4,014 (671,173) Initial recognition and changes in fair value of biological assets and agricultural produce (40) 53 13 — — — 70,295 (1,706) 68,589 Gain from changes in net realizable value of agricultural produce after harvest — — — — — — 1,542 283 1,825 Margin on Manufacturing and Agricultural Activities Before Operating Expenses 452 40 492 — — — 288,204 (1,825) 286,379 General and administrative expenses (167) 17 (150) (19,319) 428 (18,891) (57,797) 595 (57,202) Selling expenses (171) (11) (182) (165) 23 (142) (107,628) 656 (106,972) Other operating income, net (956) 602 (354) (175) 21 (154) (1,137) 315 (822) Profit from Operations Before Financing and Taxation (842) 648 (194) (19,659) 472 (19,187) 121,642 (259) 121,383 Depreciation and amortization (181) 4 (177) (20) 3 (17) (174,578) 139 (174,439) Net (loss) / gain from Fair value adjustment of investment property (927) 602 (325) — — — (927) 602 (325) Sugar, Ethanol and Energy, and Land Transformation segments have not been reconciled due to the lack of differences. The following table presents information with respect to the Group’s reportable segments. Certain other activities of a holding function nature not allocable to the segments are disclosed in the column ‘Corporate’ . Segment analysis for the year ended December 31, 2021: Farming Sugar, Land Transformation Corporate Total Crops Rice Dairy All other Farming Sales of goods and services rendered 228,894 130,526 172,803 3,490 535,713 562,010 — — 1,097,723 Cost of goods sold and services rendered (203,148) (109,709) (149,738) (2,966) (465,561) (368,501) — — (834,062) Initial recognition and changes in fair value of biological assets and agricultural produce 65,704 37,119 18,336 1,380 122,539 88,659 — — 211,198 Changes in net realizable value of agricultural produce after harvest (10,163) — — — (10,163) (1,495) — — (11,658) Margin on manufacturing and agricultural activities before operating expenses 81,287 57,936 41,401 1,904 182,528 280,673 — — 463,201 General and administrative expenses (10,273) (8,891) (4,715) (173) (24,052) (19,464) — (22,119) (65,635) Selling expenses (21,925) (16,618) (20,779) (273) (59,595) (52,946) — (306) (112,847) Other operating income, net (3,538) 239 (150) (3,995) (7,444) (17,390) 6,613 103 (18,118) Profit / (loss) from operations before financing and taxation 45,551 32,666 15,757 (2,537) 91,437 190,873 6,613 (22,322) 266,601 Depreciation and amortization (6,501) (8,080) (7,144) (175) (21,900) (143,981) — (738) (166,619) Net (loss) / gain from Fair value adjustment of investment property — — — (3,884) (3,884) — — — (3,884) Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized) 14,399 4,117 (6,271) 8,904 21,149 (16,294) — — 4,855 Initial recognition and changes in fair value of biological assets and agricultural produce (realized) 51,305 33,002 24,607 (7,524) 101,390 104,953 — — 206,343 Changes in net realizable value of agricultural produce after harvest (unrealized) (4,001) — — — (4,001) — — — (4,001) Changes in net realizable value of agricultural produce after harvest (realized) (6,162) — — — (6,162) (1,495) — — (7,657) Farmlands and farmland improvements, net 448,608 146,795 2,143 56,315 653,861 73,979 — — 727,840 Machinery, equipment and other fixed assets, net 47,122 29,543 81,516 1,641 159,822 158,611 — — 318,433 Bearer plants, net 892 — — — 892 294,090 — — 294,982 Work in progress 3,444 33,200 27,341 1,496 65,481 15,887 — — 81,368 Right of use assest 13,005 3,361 930 — 17,296 243,469 — 11 260,776 Investment property — — — 32,132 32,132 — — — 32,132 Goodwill 7,074 979 4,660 — 12,713 3,913 — — 16,626 Biological assets 54,886 42,729 18,979 7,257 123,851 71,327 — — 195,178 Finished goods 37,225 5,015 15,157 — 57,397 80,857 — — 138,254 Raw materials, stocks held by third parties and others 42,253 14,797 10,416 579 68,045 33,225 — — 101,270 Total segment assets 654,509 276,419 161,142 99,420 1,191,490 975,358 — 11 2,166,859 Borrowings 31,755 34,230 62,061 — 128,046 524,461 — 165,144 817,651 Lease liabilities 14,106 4,157 924 — 19,187 227,585 — 82 246,854 Total segment liabilities 45,861 38,387 62,985 — 147,233 752,046 — 165,226 1,064,505 Segment analysis for the year ended December 31, 2020 Farming Sugar, Land Transformation Corporate Total Crops Rice Dairy All other Farming Sales of goods and services rendered 170,114 102,886 135,471 2,545 411,016 411,459 — — 822,475 Cost of goods sold and services rendered (150,745) (74,395) (117,754) (1,984) (344,878) (270,897) — — (615,775) Initial recognition and changes in fair value of biological assets and agricultural produce 41,038 19,449 12,638 1,269 74,394 50,348 — — 124,742 Changes in net realizable value of agricultural produce after harvest 7,078 — (2) — 7,076 — — — 7,076 Margin on manufacturing and agricultural activities before operating expenses 67,485 47,940 30,353 1,830 147,608 190,910 — — 338,518 General and administrative expenses (6,816) (7,045) (4,896) (120) (18,877) (15,942) — (19,319) (54,138) Selling expenses (18,265) (14,170) (13,824) (217) (46,476) (49,188) — (202) (95,866) Other operating income, net (12,846) 731 (189) 1,069 (11,235) 5,495 7,934 (161) 2,033 Profit / (loss) from operations before financing and taxation 29,558 27,456 11,444 2,562 71,020 131,275 7,934 (19,682) 190,547 Depreciation and amortization (5,397) (6,652) (6,709) (138) (18,896) (122,516) — (876) (142,288) Net (loss) / gain from Fair value adjustment of investment property — — — 1,080 1,080 — — — 1,080 Reverse of revaluation surplus derived from the disposals of assets before taxes — — — — — — 10,198 — 10,198 Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized) 12,211 3,975 (5,151) 2,258 13,293 19,682 — — 32,975 Initial recognition and changes in fair value of biological assets and agricultural produce (realized) 29,566 15,474 17,789 (989) 61,840 29,927 — — 91,767 Changes in net realizable value of agricultural produce after harvest (unrealized) (481) — — — (481) — — — (481) Changes in net realizable value of agricultural produce after harvest (realized) 7,559 — (2) — 7,557 — — — 7,557 Farmlands and farmland improvements, net 454,212 141,661 1,911 53,902 651,686 64,065 — — 715,751 Machinery, equipment and other fixed assets, net 39,517 18,567 67,859 539 126,482 153,490 — — 279,972 Bearer plants, net 685 — — — 685 304,144 — — 304,829 Work in progress 820 23,381 18,365 1,178 43,744 13,996 — — 57,740 Right of use assets 4,275 2,472 1,288 — 8,035 201,365 — 294 209,694 Investment property — — — 31,179 31,179 — — — 31,179 Goodwill 5,720 792 3,769 — 10,281 4,201 — — 14,482 Biological assets 43,787 29,062 12,933 4,703 90,485 75,208 — — 165,693 Finished goods 30,267 5,970 6,489 — 42,726 34,315 — — 77,041 Raw materials, stocks held by third parties and others 21,893 4,519 7,377 318 34,107 22,313 — — 56,420 Total segment assets 601,176 226,424 119,991 91,819 1,039,410 873,097 — 294 1,912,801 Borrowings 37,111 39,686 103,742 — 180,539 632,985 — 157,566 971,090 Lease liabilities 5,920 3,063 1,311 — 10,294 185,155 — 323 195,772 Total segment liabilities 43,031 42,749 105,053 — 190,833 818,140 — 157,889 1,166,862 Segment analysis for the year ended December 31, 2019 Farming Sugar, Land Transformation Corporate Total Crops Rice Dairy All other Farming Sales of goods and services rendered 168,938 102,162 84,767 3,904 359,771 531,783 — — 891,554 Cost of goods sold and services rendered (159,197) (74,480) (77,532) (3,412) (314,621) (360,566) — — (675,187) Initial recognition and changes in fair value of biological assets and agricultural produce 30,290 13,194 13,741 (40) 57,185 13,110 — — 70,295 Changes in net realizable value of agricultural produce after harvest 1,542 — — — 1,542 — — — 1,542 Margin on manufacturing and agricultural activities before operating expenses 41,573 40,876 20,976 452 103,877 184,327 — — 288,204 General and administrative expenses (5,446) (6,752) (4,188) (167) (16,553) (21,925) — (19,319) (57,797) Selling expenses (12,852) (21,072) (6,252) (171) (40,347) (67,116) — (165) (107,628) Other operating income, net (2,283) 282 (635) (956) (3,592) 126 2,504 (175) (1,137) Profit / (loss) from operations before financing and taxation 20,992 13,334 9,901 (842) 43,385 95,412 2,504 (19,659) 121,642 Depreciation and amortization (4,662) (6,994) (5,064) (181) (16,901) (157,657) — (20) (174,578) Net (loss) / gain from Fair value adjustment of investment property — — — (927) (927) — — — (927) Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized) 6,091 509 (3,957) (72) 2,571 (851) — — 1,720 Initial recognition and changes in fair value of biological assets and agricultural produce (realized) 24,199 12,685 17,698 32 54,614 13,961 — — 68,575 Changes in net realizable value of agricultural produce after harvest (unrealized) (481) — — — (481) — — — (481) Changes in net realizable value of agricultural produce after harvest (realized) 2,023 — — — 2,023 — — — 2,023 Total segment assets and liabilities are measured in a manner consistent with that of the Consolidated Financial Statements. These assets and liabilities are allocated based on the operations of the segment and the physical location of the asset. Total reportable segments’ assets and liabilities are reconciled to total assets as per the statement of financial position as follows: 2021 2020 Total reportable assets as per segment information 2,166,859 1,912,801 Intangible assets (excluding goodwill) 14,711 12,448 Deferred income tax assets 10,321 19,821 Trade and other receivables 188,080 197,928 Other assets 1,079 854 Derivative financial instruments 1,585 2,102 Cash and cash equivalents 199,766 336,282 Total assets as per the statement of financial position 2,582,401 2,482,236 2021 2020 Total reportable liabilities as per segment information 1,064,505 1,166,862 Trade and other payables 169,030 126,605 Deferred income tax liabilities 265,848 182,377 Payroll and social liabilities 26,294 24,408 Provisions for other liabilities 5,986 4,359 Current income tax liabilities 1,625 760 Derivative financial instruments 1,283 13,141 Total liabilities as per the statement of financial position 1,534,571 1,518,512 Non-current assets and revenues and fair value gains and losses are shown by geographic region. These are the regions in which the Group is active: Argentina, Brazil, Uruguay and others. As of and for the year ended December 31, 2021: Argentina Brazil Uruguay Others (*) Total Property, plant and equipment 868,527 542,710 11,386 — 1,422,623 Investment property 32,132 — — — 32,132 Goodwill 12,713 3,913 — — 16,626 Non-current portion of biological assets 19,355 — — — 19,355 — Sales of goods and services rendered 284,026 385,959 427,661 77 1,097,723 Initial recognition and changes in fair value of biological assets and agricultural produce 120,255 88,659 2,284 — 211,198 Changes in net realizable value of agricultural produce after harvest (9,679) (1,496) (483) — (11,658) (*) It includes the initial operations in Chile which are not disclosed separately due to its non significance. As of and for the year ended December 31, 2020: Argentina Brazil Uruguay Total Property, plant and equipment 811,653 535,857 10,782 1,358,292 Investment property 31,179 — — 31,179 Goodwill 10,280 4,202 — 14,482 Non-current portion of biological assets 14,725 — — 14,725 Sales of goods and services rendered 389,018 411,779 21,678 822,475 Initial recognition and changes in fair value of biological assets and agricultural produce 72,391 50,348 2,003 124,742 Changes in net realizable value of agricultural produce after harvest 6,770 (88) 394 7,076 As of and for the year ended December 31, 2019: Argentina Brazil Uruguay Total Sales of goods and services rendered 229,547 462,174 199,833 891,554 Initial recognition and changes in fair value of biological assets and agricultural produce 55,760 13,167 1,368 70,295 Changes in net realizable value of agricultural produce after harvest 2,682 (8) (1,132) 1,542

Sales

Sales	12 Months Ended
	Dec. 31, 2021
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Sales	Sales 2021 2020 2019 Manufactured products and services rendered: Ethanol 291,883 199,062 373,847 Sugar 208,365 171,102 97,710 Energy 50,321 42,756 60,913 Peanut 60,939 46,708 28,928 Sunflower 11,282 10,433 7,534 Cotton 2,540 1,969 623 Rice 127,272 96,397 97,515 Fluid milk (UHT) 62,875 54,380 38,441 Powder milk 62,728 40,500 20,722 Other diary products 28,834 17,205 8,856 Services 7,309 4,774 4,521 Rental income 615 584 564 Others 13,069 5,623 4,463 928,032 691,493 744,637 Agricultural produce and biological assets: Soybean 71,687 44,271 44,538 Corn 59,803 44,475 59,714 Wheat 27,349 14,457 18,733 Sunflower 6,167 633 701 Barley 1,684 275 1,085 Seeds 1,559 1,732 734 Milk 16,468 12,817 9,977 Cattle 3,111 1,959 3,452 Cattle for dairy 4,994 2,729 2,169 Others 3,498 2,923 1,398 196,320 126,271 142,501 Total sales 1,124,352 817,764 887,138 Commitments to sell commodities at a future date The Group entered into contracts to sell non-financial instruments, mainly sugar, soybean and corn through sales forward contracts. Those contracts are held for purposes of delivery of the non-financial instrument in accordance with the Group’s expected sales. Accordingly, as the own use exception criteria are met, those contracts are not recorded as derivatives. The notional amount of these contracts is US$75.9 million as of December 31, 2021 (2020: US$42.2 million; 2019: US$71.7 million) comprised primarily of 2,497 thousand m3 of ethanol (US$1.98 million), 483,984 thousand mwh of energy (US$24.22 million), 56,491 thousand tons of soybean (US$19.60 million), 28,903 thousand tons of wheat (US$6.95 million), and 103,594 thousand tons of corn (US$19.93 million) which expire between January and December 2022.

Cost of goods sold and services

Cost of goods sold and services rendered	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Cost of goods sold and services rendered	Cost of goods sold and services rendered As of December 31, 2021: 2021 Crops Rice Dairy All other Sugar, Total Finish goods at the beginning of 2021 (Note 19) 30,267 5,970 6,489 — 34,315 77,041 Cost of production of manufactured products (Note 6) 59,590 124,304 158,083 — 415,408 757,385 Purchases 26,880 569 — — 4,860 32,309 Agricultural produce 224,788 — 16,468 3,111 10,944 255,311 Transfer to raw material (73,068) (7,240) — — — (80,308) Direct agricultural selling expenses 22,642 — — — — 22,642 Tax recoveries (i) — — — — (19,423) (19,423) Changes in net realizable value of agricultural produce after harvest (11,384) — — — (1,495) (12,879) (-) Ethanol production costs recovery — — — — (3,669) (3,669) Loss of idle productive capacity — — — — 14,270 14,270 Finished goods at the end of December 31, 2021 (Note 19) (37,225) (5,015) (15,157) — (80,857) (138,254) Exchange differences (29,259) (6,543) (7,806) — (5,852) (49,460) Cost of goods sold and services rendered, and direct agricultural selling expenses 213,231 112,045 158,077 3,111 368,501 854,965 (i) Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values. As of December 31, 2020: 2020 Crops Rice Dairy All other Sugar, Total Finished goods at the beginning of 2020 17,830 5,805 4,779 — 36,864 65,278 Cost of production of manufactured products (Note 6) 44,074 79,507 102,933 — 285,627 512,141 Purchases 3,648 — — — 6,088 9,736 Agricultural produce 137,204 — 15,546 1,962 — 154,712 Transfer to raw material (46,192) (4,256) — — — (50,448) Direct agricultural selling expenses 16,467 — — — — 16,467 Tax recoveries (i) — — — — (21,765) (21,765) Changes in net realizable value of agricultural produce after harvest 7,007 — (2) — — 7,005 Finished goods at the end of December 31, 2020 (Note 19) (30,267) (5,970) (6,489) — (34,315) (77,041) Exchange differences (521) (1,256) (760) — (1,602) (4,139) Cost of goods sold and services rendered, and direct agricultural selling expenses 149,250 73,830 116,007 1,962 270,897 611,946 (i) Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values. As of December 31, 2019: 2019 Crops Rice Dairy All other Sugar, Total Finished goods at the beginning of 2019 29,144 9,507 1,170 — 39,937 79,758 Cost of production of manufactured products (Note 6) 33,952 66,386 68,851 — 354,964 524,153 Purchases 21,715 3,095 — — 44,577 69,387 Agricultural produce 108,732 — 12,146 3,452 — 124,330 Transfer to raw material (35,757) — — — — (35,757) Direct agricultural selling expenses 15,752 — — — — 15,752 Tax recoveries (i) — — — — (32,995) (32,995) Changes in net realizable value of agricultural produce after harvest 1,825 — — — — 1,825 Finished goods at the end of December 31, 2019 (17,830) (5,805) (4,779) — (36,864) (65,278) Exchange differences (1,023) 768 (694) — (9,053) (10,002) Cost of goods sold and services rendered, and direct agricultural selling expenses 156,510 73,951 76,694 3,452 360,566 671,173 (i) Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values.

Expenses by nature

Expenses by nature	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Expenses by nature	Expenses by nature The Group presents the statement of income under the function of expense method. Under this method, expenses are classified according to their function as part of the line items “cost of goods sold and direct agricultural selling expenses," “general and administrative expenses” and “selling expenses”. The following table provides the additional disclosure required on the nature of expenses and their relationship to the function within the Group: Expenses by nature for the year ended December 31, 2021: Cost of production of manufactured products (Note 5) General and Selling Total Crops Rice Dairy All other Sugar, Total Salaries, social security expenses and employee benefits 3,651 6,841 9,268 — 27,072 46,832 30,727 7,221 84,780 Raw materials and consumables 578 373 24,755 — 13,036 38,742 — — 38,742 Depreciation and amortization 3,930 2,692 3,590 — 108,709 118,921 14,280 1,304 134,505 Depreciation of right of use assets — 102 602 — 5,700 6,404 7,173 49 13,626 Fuel, lubricants and others 336 89 1,730 — 24,747 26,902 854 279 28,035 Maintenance and repairs 1,341 1,851 1,779 — 16,797 21,768 1,956 800 24,524 Freights 644 8,154 2,377 — 607 11,782 — 38,970 50,752 Export taxes / selling taxes — — — — — — — 43,509 43,509 Export expenses — — — — — — — 11,745 11,745 Contractors and services 2,587 235 260 — 6,758 9,840 — — 9,840 Energy transmission — — — — — — — 2,347 2,347 Energy power 1,276 1,501 2,544 — 839 6,160 335 85 6,580 Professional fees 78 84 140 — 692 994 7,600 815 9,409 Other taxes 23 92 118 — 3,049 3,282 582 62 3,926 Contingencies — — — — — — 855 — 855 Lease expense and similar arrangements 162 319 257 — — 738 1,863 251 2,852 Third parties raw materials 2,804 2,852 62,737 — 15,240 83,633 — — 83,633 Tax recoveries — — — — (1,546) (1,546) — — (1,546) Others 962 5,273 2,166 — 2,636 11,037 3,569 10,225 24,831 Subtotal 18,372 30,458 112,323 — 224,336 385,489 69,794 117,662 572,945 Own agricultural produce consumed 41,218 93,846 45,760 — 191,072 371,896 — — 371,896 Total 59,590 124,304 158,083 — 415,408 757,385 69,794 117,662 944,841 Expenses by nature for the year ended December 31, 2020: Cost of production of manufactured products (Note 5) General and Selling Total Crops Rice Dairy All other Sugar, Total Salaries, social security expenses and employee benefits 2,348 4,466 7,452 — 26,341 40,607 25,519 5,206 71,332 Raw materials and consumables 448 3,072 14,486 — 8,743 26,749 — — 26,749 Depreciation and amortization 2,929 2,016 2,812 — 93,211 100,968 12,490 985 114,443 Depreciation of right of use assets — 19 461 — 6,208 6,688 3,557 24 10,269 Fuel, lubricants and others 131 68 2,030 — 16,543 18,772 428 187 19,387 Maintenance and repairs 639 1,492 1,141 — 12,581 15,853 954 476 17,283 Freights 172 4,617 1,708 — 649 7,146 — 33,111 40,257 Export taxes / selling taxes — — — — — — — 35,966 35,966 Export expenses — — — — — — — 8,801 8,801 Contractors and services 1,358 116 54 — 5,086 6,614 — — 6,614 Energy transmission — — — — — — — 2,231 2,231 Energy power 803 1,015 1,879 — 764 4,461 137 114 4,712 Professional fees 32 35 103 — 447 617 6,261 1,060 7,938 Other taxes 20 76 97 — 2,312 2,505 376 21 2,902 Contingencies — — — — — — 703 — 703 Lease expense and similar arrangements 111 182 137 — — 430 283 226 939 Third parties raw materials 3,257 6,578 42,051 — 13,547 65,433 — — 65,433 Tax recoveries — — — — (1,087) (1,087) — — (1,087) Others 524 1,219 1,975 — 1,613 5,331 2,720 6,650 14,701 Subtotal 12,772 24,971 76,386 — 186,958 301,087 53,428 95,058 449,573 Own agricultural produce consumed 31,302 54,536 26,547 — 98,669 211,054 — — 211,054 Total 44,074 79,507 102,933 — 285,627 512,141 53,428 95,058 660,627 Expenses by nature for the year ended December 31, 2019: Cost of production of manufactured products (Note 5) Crops Rice Dairy All other Sugar, Total General and Selling Total Salaries, social security expenses and employee benefits 1,880 4,738 4,412 — 39,768 50,798 27,492 6,211 84,501 Raw materials and consumables 314 6,527 10,151 — 15,683 32,675 — — 32,675 Depreciation and amortization 2,581 1,897 2,140 — 122,025 128,643 11,212 868 140,723 Depreciation right-of-use and other leases — 116 344 — 6,794 7,254 2,007 5 9,266 Fertilizers, agrochemicals and seeds — — — — — — — — — Fuel, lubricants and others 228 83 1,381 — 25,430 27,122 593 225 27,940 Maintenance and repairs 290 1,120 985 — 19,694 22,089 1,755 534 24,378 Freights 146 2,405 1,959 — 784 5,294 — 23,130 28,424 Export taxes / selling taxes — — — — — — — 52,312 52,312 Export expenses — — — — — — — 5,552 5,552 Contractors and services 1,051 138 40 — 9,381 10,610 — — 10,610 Energy transmission — — — — — — 88 3,057 3,145 Feeeding expenses — — — — — — — — — Veterinary expenses — — — — — — — — — Energy power 725 1,298 1,659 — 1,181 4,863 145 145 5,153 Professional fees 20 65 127 — 175 387 8,065 1,047 9,499 Other taxes 1 74 81 — 1,241 1,397 1,089 28 2,514 Contingencies — — — — — — 459 — 459 Lease expense and similar arrangements 83 171 78 — — 332 831 125 1,288 Third parties raw materials 7,136 5,629 18,131 — 11,243 42,139 — — 42,139 Tax recoveries — — — — (396) (396) — — (396) Others 431 695 681 — 2,324 4,131 3,466 13,733 21,330 Subtotal 14,886 24,956 42,169 — 255,327 337,338 57,202 106,972 501,512 Own agricultural produce consumed 19,066 41,430 26,682 — 99,637 186,815 — — 186,815 Total 33,952 66,386 68,851 — 354,964 524,153 57,202 106,972 688,327

Salaries and social security ex

Salaries and social security expenses	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Salaries and social security expenses	Salaries and social security expenses 2021 2020 2019 Wages and salaries (i) 101,818 89,662 104,400 Social security costs 30,296 27,430 30,888 Equity-settled share-based compensation 6,406 4,316 4,734 138,520 121,408 140,022 (i) Includes US$25,105, US$32,714 and US$32,636, capitalized in Property, Plant and Equipment for the years 2021, 2020 and 2019, respectively.

Other operating (expense) _ inc

Other operating (expense) / income, net	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Other operating (expense) / income, net	Other operating (expense) / income, net 2021 2020 2019 Gain from disposal of farmland and other assets (Note 21) — 2,064 1,354 Loss from the sale of subsidiaries (Note 21) 10 (554) — Loss from commodity derivative financial instrument (15,990) (8,320) (618) (Loss) / gain from disposal of other property items (397) 2,198 (329) Net (loss) / gain from fair value adjustment of investment property (4,331) 1,077 (325) Others 1,940 5,522 (904) (18,768) 1,987 (822)

Financial results, net

Financial results, net	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Financial results, net	Financial results, net 2021 2020 2019 Finance income: - Interest income 4,081 4,084 7,319 -Foreign exchange gains, net 18,939 — — - Gain from interest rate/foreign exchange rate derivative financial instruments 512 92 1,189 - Other income 13,138 21,878 1,400 Finance income 36,670 26,054 9,908 Finance costs: - Interest expense (62,536) (58,282) (60,134) - Finance cost related to lease liabilities (16,502) (12,532) (9,524) - Cash flow hedge – transfer from equity (Note 2) (52,650) (24,363) (15,594) - Foreign exchange losses, net — (109,266) (108,458) - Taxes (7,073) (4,559) (4,364) - Borrowings prepayment related expenses (Brazilian subsidiaries) (3,068) — — -Finance discount (3,741) — — - Other expenses (6,111) (4,774) (4,492) Finance costs (151,681) (213,776) (202,566) Other financial results - Net gain of inflation effects on the monetary items 11,541 12,064 92,437 Total financial results, net (103,470) (175,658) (100,221)

Taxation

Taxation	12 Months Ended
	Dec. 31, 2021
Income Taxes [Abstract]
Taxation	Taxation Adecoagro is subject to the applicable general tax regulations in Luxembourg. The Group’s income tax has been calculated on the estimated assessable taxable results for the year at the rates prevailing in the respective foreign tax jurisdictions. The subsidiaries of the Group are required to calculate their income taxes on a separate basis according to the rules and regulations of the jurisdictions where they operate. Therefore, the Group is not legally permitted to compensate subsidiaries’ losses against subsidiaries’ income. The details of the provision for the Group’s consolidated income tax are as follows: 2021 2020 2019 Current income tax (4,338) (2,840) 666 Deferred income tax (39,499) (9,485) (21,486) Income tax expense (43,837) (12,325) (20,820) The statutory tax rate in the countries where the Group operates for all of the years presented are: Tax Jurisdiction Income Tax Rate Argentina (i) 30 % Brazil 34 % Uruguay 25 % Spain 25 % Luxembourg 24.94 % (i) During 2017 and 2019, the Argentine Government introduced changes in the income tax. The income tax rate would be reduced to 30% for the years 2018 to 2020, and to 25% from 2021 onwards. A new tax on dividends was created with a rate of 7% for the years 2018 to 2020, and 13% from 2021 onwards. In June, 2021, the Argentine Government introduced new changes in the income tax, establishing increasing rates, which starts in 25% and reach 35% for income tax gains over Pesos 50 million (0.5 million USD). Also it establishes this new scheme is applicable for the year 2021 onwards. It also establishes a 7% withholding tax for dividends. Deferred tax assets and liabilities of the Group as of December 31, 2021 and 2020, without taking into consideration the offsetting of balances within the same tax jurisdiction, will be recovered or settled as follows: 2021 2020 Deferred income tax asset to be recovered after more than 12 months 102,374 105,424 Deferred income tax asset to be recovered within 12 months 21,976 23,744 Deferred income tax assets 124,350 129,168 Deferred income tax liability to be settled after more than 12 months (362,114) (278,035) Deferred income tax liability to be settled within 12 months (17,763) (13,689) Deferred income tax liability (379,877) (291,724) Deferred income tax liability, net (255,527) (162,556) The gross movement on the deferred income tax account is as follows: 2021 2020 Beginning of year (162,556) (151,844) Exchange differences (40,644) 1,536 Changes of fair value valuation for farmlands (9,953) (11,790) Disposal of subsidiary — 3,458 Others (349) (159) Tax credit relating to cash flow hedge (i) (2,526) 5,728 Income tax benefit expense (39,499) (9,485) End of year (255,527) (162,556) (i) Relates to the gain or loss before income tax of cash flow hedge recognized in other comprehensive income amounting to US$46,145 for the year ended December 31, 2021 (2020: US$75,822); net of the reclassification from Equity to the Income Statement of US$ (26,031) for the year ended December 31, 2021 (2020: US$ (32,305)) The movement in the deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows: Deferred income tax Property, Investment property Biological Others Total At January 1, 2020 280,859 11,907 4,179 (834) 296,111 Charged / (credited) to the statement of income 11,581 (1,928) 6,463 — 16,116 Farmlands revaluation 11,521 269 — — 11,790 Disposals of subsidiaries (3,513) — — — (3,513) Exchange differences (28,920) (370) 510 — (28,780) At December 31, 2020 271,528 9,878 11,152 (834) 291,724 Charged / (credited) to the statement of income 43,270 (817) (755) (1,811) 39,887 Farmlands revaluation 11,469 (1,516) — — 9,953 Disposals of subsidiaries — — — — — Exchange differences 32,167 2,336 1,797 2,013 38,313 At December 31, 2021 358,434 9,881 12,194 (632) 379,877 Deferred income tax Provisions Tax loss Equity-settled Borrowings Biological Others Total At January 1, 2020 3,237 91,419 3,383 1,548 4,508 40,172 144,267 Charged / (credited) to the statement of income 4,941 (5,843) (835) 34,017 (4,508) (21,141) 6,631 Acquisition of subsidiaries — — — — — (55) (55) Others — — (60) — — (99) (159) Tax charge relating to cash flow hedge — 5,728 — — — — 5,728 Exchange differences (1,152) (20,363) — (9,460) — 3,731 (27,244) At December 31, 2020 7,026 70,941 2,488 26,105 — 22,608 129,168 (Credited) / charged to the statement of income 1,978 13,108 — (13,589) 452 (1,561) 388 Others — — (349) — — — (349) Tax charge relating to cash flow hedge — (2,526) — — — — (2,526) Exchange differences 20 3,158 — (2,952) (386) (2,171) (2,331) At December 31, 2021 9,024 84,681 2,139 9,564 66 18,876 124,350 Tax loss carry forwards in Argentina and Uruguay generally expire within 5 years. Tax loss carry forwards in Brazil and Luxembourg do not expire. However, in Brazil, the taxable profit for each year can only be reduced by tax loss carry forward up to a maximum of 30%. In order to fully realize the deferred tax asset, the Group will need to generate future taxable income in the countries where the tax loss carry forward were incurred. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes that as at December 31, 2021, it is probable that the Group will realize some portion of the deferred tax assets in Brazil and Argentina. As of December 31, 2021, the Group’s tax loss carry forwards and their corresponding jurisdictions are as follows: Jurisdiction Tax loss carry forward Expiration period Argentina (1) 119,385 5 years Brazil 114,479 No expiration date. Uruguay 2,458 5 years Luxembourg 28,263 No expiration date. (1) As of December 31, 2021, the aging of the determination tax loss carry forward in Argentina is as follows: Year of generation Amount 2018 20,543 2019 82,262 2020 16,580 The tax on the Group’s profit before income tax differs from the theoretical amount that would arise using the tax rates applicable to profits in the respective countries as follows: 2021 2020 2019 Tax calculated at the tax rates applicable to profits in the respective countries (54,291) (4,184) (7,250) Non-deductible items (3,459) (7,642) (1,511) Effect of the changes in the statutory income tax rate in Argentina (31,962) 6,324 3,115 Unused tax losses 482 (710) (3,742) Non-taxable income 13,604 11,060 11,545 Previously unrecognized tax losses now recouped to reduce tax expenses (1) 38,121 1,529 1,910 Effect of IAS 29 and tax adjustment per inflation in Argentina (6,402) (19,239) (23,805) Others 70 537 (1,082) Income tax expense (43,837) (12,325) (20,820) (1) 2021 includes 37,175 of adjustment by inflation of tax loss carryforwards in Argentina. Tax Inflation Adjustment in Argentina Laws 27,430, 27,468 and 27,541 introduced several amendments to the income tax inflation adjustments provided by the Income Tax Law. According to these provisions, and effective as from fiscal years beginning on or after January 1, 2018, the inflation adjustment procedure set out in Title VI of the Income Tax Law shall be applicable in fiscal years in which the variation of IPC price index, accumulated in the 36 months immediately preceding the end of the relevant fiscal year, is higher than 100%. As from its effectiveness, this procedure is applicable because the variation of the IPC reached the prescribed limits. However, Section 39 of Law No. 24,073 suspended the application of the provisions of Title VI of the Income Tax Law relating to the income tax inflation adjustment since April 1, 1992 to certain items, such as, fixed assets, inventory, and tax loss carryforwards, among others. After the economic crisis of 2002, many taxpayers began to question the legality of the provisions suspending the income tax inflation adjustment. Also, the Argentine Supreme Court of Justice issued its verdict in the "Candy" case July 3, 2009 in which it stated that particularly for fiscal year 2002 and considering the serious state of disturbance of that year, the taxpayer could demonstrate that not applying the income tax inflation adjustment resulted in confiscatory income tax rates. More recently, the Argentine Supreme Court of Justice applied a similar criterion to the 2010, 2011, 2012 and 2014 fiscal years in the cases brought by “Distribuidora Gas del Centro” (10/14/14, 06/02/15, 10/04/16 and 06/25/19), among others, enabling the application of income tax inflation adjustment for periods not affected by a severe economic crisis such as 2002. The Company believes that the lack of application of the income tax inflation adjustment is confiscatory. Accordingly, based on the precedents and the opinion of external and internal tax advisors, the Company has adjusted all items for inflation including those suspended by Section 39 of Law 24, 073 as described above. The net effect of the inflation adjustment resulted in a deferred tax asset of US$37.2 million. The application of local tax laws require interpretation, and accordingly involves the application of judgement and is open to challenge by the relevant tax authorities. This gives rise to a level of uncertainty. Provisions for uncertain tax positions are established in accordance with IFRIC 23 based on an assessment of the range of likely tax outcomes in open years and reflecting the strength of technical arguments. Amounts are provided for individual tax uncertainties based on management’s assessment of whether the most likely amount or an expected amount based on a probability weighted methodology is the more appropriate predicter of amounts that the Company is ultimately expected to settle. When making this assessment, the Company utilizes specialist in-house tax knowledge and experience and takes into consideration specialist tax advice from third party advisers on specific items. The Company has not provided any amount in this case based on its belief that it has solid arguments to support its position.

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2021
Earnings per share [abstract]
Earnings per share	Earnings per share (a) Basic Basic earnings per share is calculated by dividing the profit attributable to equity holders of the Group by the weighted average number of shares in issue during the period excluding ordinary shares held as treasury shares (Note 23). 2021 2020 2019 Profit / (loss) from operations attributable to equity holders of the Group 130,669 412 (772) Weighted average number of shares in issue (thousands) 115,148 117,453 117,252 Basic earnings / (loss) per share from operations 1.135 0.003 (0.007) (b) Diluted Diluted earnings per share is calculated by adjusting the weighted average number of shares outstanding to assume conversion of all dilutive potential shares. The Group has two categories of dilutive potential shares: equity-settled share options and restricted units. For these instruments, a calculation is done to determine the number of shares that could have been acquired at fair value, based on the monetary value of the subscription rights attached to outstanding share options. The number of shares calculated as above is compared with the number of shares that would have been issued assuming the exercise of the equity-settled share options. As of December 31, 2021, there were 466 thousands (2020: 261 thousands; 2019: 645 thousands) share options/restricted units outstanding that could potentially have a dilutive impact in the future but were antidilutive for the periods presented. 2021 2020 2019 Profit / (loss) from operations attributable to equity holders of the Group 130,669 412 (772) Weighted average number of shares in issue (thousands) 115,148 117,453 117,252 Adjustments for: - Employee share options and restricted units (thousands) 466 261 645 Weighted average number of shares for diluted earnings per share (thousands) 115,614 117,714 117,897 Diluted earnings / (loss) per share from operations 1.130 0.003 (0.007)

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2021
Property, plant and equipment [abstract]
Property, plant and equipment	Property, plant and equipment Changes in the Group’s property, plant and equipment in 2021 and 2020 were as follows: Farmlands Farmland Buildings and Machinery, Bearer plants Others Work in Total At January 1, 2020 Fair value for farmlands / Cost 709,585 44,887 413,727 791,024 573,060 23,907 59,158 2,615,348 Accumulated depreciation — (19,607) (181,007) (584,751) (319,540) (17,223) — (1,122,128) Net book amount 709,585 25,280 232,720 206,273 253,520 6,684 59,158 1,493,220 At December 31, 2020 Opening net book amount 709,585 25,280 232,720 206,273 253,520 6,684 59,158 1,493,220 Exchange differences (36,422) (432) (55,368) (112,657) 30,864 (617) (6,445) (181,077) Additions — — 11,279 52,350 72,592 1,877 31,192 169,290 Revaluation surplus 41,490 — — — — — — 41,490 Reclassification from investment property 3,127 — — — — — — 3,127 Transfers — (177) 10,101 16,182 — 59 (26,165) — Disposals (10,118) — (73) (3,092) — (37) — (13,320) Disposals of subsidiaries (13,496) — — — — — — (13,496) Reclassification to non-income tax credits (*) — — — (363) — — — (363) Depreciation — (3,086) (21,055) (62,788) (52,147) (1,503) — (140,579) Closing net book amount 694,166 21,585 177,604 95,905 304,829 6,463 57,740 1,358,292 Farmlands Farmland Buildings and Machinery, Bearer plants Others Work in Total At December 31, 2020 Fair value for farmlands / Cost 694,166 44,278 379,666 743,444 676,516 25,189 57,740 2,620,999 Accumulated depreciation — (22,693) (202,062) (647,539) (371,687) (18,726) — (1,262,707) Net book amount 694,166 21,585 177,604 95,905 304,829 6,463 57,740 1,358,292 Year ended December 31, 2021 Opening net book amount 694,166 21,585 177,604 95,905 304,829 6,463 57,740 1,358,292 Exchange differences 142,390 2,772 20,923 (4,804) (34,433) 20,567 9,299 156,714 Additions — 169 11,681 55,463 88,530 2,615 46,371 204,829 Revaluation surplus (126,675) — — — — — — (126,675) Reclassification from investment property 1,380 — — — — — — 1,380 Transfers — (4,773) 23,049 13,471 149 104 (32,000) — Disposals — (8) (126) (4,078) — (63) (42) (4,317) Reclassification to non-income tax credits (*) — — — (303) — — — (303) Depreciation — (3,166) (25,452) (72,471) (64,093) (2,115) — (167,297) Closing net book amount 711,261 16,579 207,679 83,183 294,982 27,571 81,368 1,422,623 At December 31, 2021 Fair value for farmlands / Cost 711,261 42,438 435,193 803,193 730,762 48,412 81,368 2,852,627 Accumulated depreciation — (25,859) (227,514) (720,010) (435,780) (20,841) — (1,430,004) Net book amount 711,261 16,579 207,679 83,183 294,982 27,571 81,368 1,422,623 (*) Brazilian federal tax law allows entities to take a percentage of the total cost of the assets purchased as a tax credit. As of December 31, 2021 and 2020, ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) tax credits were reclassified to trade and other receivables. Depreciation is calculated using the straight-line method to allocate their cost over the estimated usefull lives. Farmlands are not depreciated. Farmland improvements 5-25 years Buildings and facilities 20 years Furniture and fittings 10 years Computer equipment 3-5 years Machinery and equipment 4-10 years Vehicles 4-5 years Bearer plants 6 years - based on productivity The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each statement of financial position date. Farmlands are measured at fair value. For all farmlands with a total valuation of US$711 million as of December 31, 2021, the valuation was determined using sales Comparison Approach prepared by an independent expert. Sale prices of comparable properties are adjusted considering the specific aspects of each property, the most relevant premise being the price per hectare (Level 3). The Group estimated that, other factors being constant, a 10% reduction on the sales price for the period ended December 31, 2021 would have reduced the value of the farmlands on US$71 million (2020: US$69 million), which would impact, net of its tax effect on the "Revaluation surplus" item in the statement of Changes in Shareholders' Equity. If farmlands were stated on the historical cost basis, the amount as of December 31, 2020 would be US$194 million. Depreciation charges are included in “Cost of production of Biological Assets," “Cost of production of manufactures products,”“General and administrative expenses,”“Selling expenses” and capitalized in “Property, plant and equipment” for the years ended December 31, 2021 and 2020. During the year ended December 31, 2021, borrowing costs of US$2,831 (2020:US$3,861) were capitalized as components of the cost of acquisition or construction for qualifying assets. Certain of the Group’s assets have been pledged as collateral to secure the Group’s borrowings and other payables. The net book value of the pledged assets amounts to US$124,554 as of December 31, 2021 (2020: US$451,904).

Right of use assets

Right of use assets	12 Months Ended
	Dec. 31, 2021
Rights of Use [Abstract]
Right of use assets	Right of use assets Changes in the Group’s right of use assets in 2021 and 2020 were as follows: Agricultural partnerships (*) Others Total At January 1, 2020 Opening net book amount 219,837 18,216 238,053 Exchange differences (47,186) (3,969) (51,155) Additions and re-measurements 53,149 10,467 63,616 Depreciation (33,530) (7,290) (40,820) Closing net book amount 192,270 17,424 209,694 At December 31, 2021 Opening net book amount 192,270 17,424 209,694 Exchange differences (10,191) (55) (10,246) Additions and re-measurements 95,030 15,497 110,527 Depreciation (41,138) (8,061) (49,199) Closing net book amount 235,971 24,805 260,776 (*) Agricultural partnership has an average of 6 years duration. Depreciation charges are included in “Cost of production of Biological Assets,”“Cost of production of manufactures products,”“General and administrative expenses,”“Selling expenses” and capitalized in “Property, plant and equipment” for the year ended December 31, 2021 and 2020.

Investment property

Investment property	12 Months Ended
	Dec. 31, 2021
Investment property [abstract]
Investment property	Investment property Changes in the Group’s investment property in 2021 and 2020 were as follows: 2021 2020 Beginning of the year 31,179 34,295 Net gain / (loss) from fair value adjustment (Note 8) (4,331) 1,077 Reclassification to property, plant and equipment (i) (1,380) (3,127) Exchange difference 6,664 (1,066) End of the year 32,132 31,179 Fair value 32,132 31,179 Net book amount 32,132 31,179 (i) Relates with the expiration of contracts with third parties. Investment properties are measured at Fair Value. For all Investment properties with a total valuation of US$32.1 million and US$31.2 million as of December 31, 2021 and 2020 respectively, the valuation was determined using Sales Comparison Approach prepared by an independent expert. Sale prices of comparable properties are adjusted considering the specific aspects of each property, the most relevant premise being the price per hectare (Level 3). The increase /decrease in the Fair value is recognized in the Statement of income under the line item "Other operating income, net". The Group estimated that, other factors being constant, a 10% reduction on the Sales price for the period ended December 31, 2021 and 2020 would

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about intangible assets [abstract]
Intangible assets	Intangible assets Changes in the Group’s intangible assets in 2021 and 2020 were as follows: Goodwill Software Trademarks Others Total At January 1, 2020 Cost 20,020 11,976 8,872 428 41,296 Accumulated amortization — (5,715) (1,556) (346) (7,617) Net book amount 20,020 6,261 7,316 82 33,679 Year ended December 31, 2020 Opening net book amount 20,020 6,261 7,316 82 33,679 Exchange differences (1,687) (954) (80) (35) (2,756) Additions — 823 326 94 1,243 Disposal — (46) — (46) (92) Disposal of subsidiary (3,851) — — — (3,851) Amortization charge (i) — (820) (412) (61) (1,293) Closing net book amount 14,482 5,264 7,150 34 26,930 At December 31, 2020 Cost 14,482 11,799 9,118 441 35,840 Accumulated amortization — (6,535) (1,968) (407) (8,910) Net book amount 14,482 5,264 7,150 34 26,930 Year ended December 31, 2021 Opening net book amount 14,482 5,264 7,150 34 26,930 Exchange differences 2,144 595 1,407 (4) 4,142 Additions — 1,823 — 73 1,896 Amortization charge (i) — (1,197) (366) (68) (1,631) Closing net book amount 16,626 6,485 8,191 35 31,337 At December 31, 2021 Cost 16,626 14,217 10,525 510 41,878 Accumulated amortization — (7,732) (2,334) (475) (10,541) Net book amount 16,626 6,485 8,191 35 31,337 (i) Amortization charges are included in “General and administrative expenses” and “Selling expenses” for the years ended December 31, 2021 and 2020, respectively. There were no impairment charges for any of the years presented (see Note 32 (a)).

Biological assets

Biological assets	12 Months Ended
	Dec. 31, 2021
Agriculture1 [Abstract]
Biological assets	Biological assets Changes in the Group’s biological assets in 2021 and 2020 were as follows: 2021 Crops Rice Dairy All other Sugarcane Total Beginning of the year 43,787 29,062 12,933 4,703 75,208 165,693 Increase due to purchases — — — 1,559 — 1,559 Initial recognition and changes in fair value of biological assets (i) 73,990 43,834 19,895 1,362 88,659 227,740 Decrease due to harvest / disposals (224,788) (99,517) (67,230) (4,322) (208,175) (604,032) Costs incurred during the year 151,971 62,477 50,323 2,842 116,252 383,865 Exchange differences 9,926 6,873 3,058 1,113 (617) 20,353 End of the year 54,886 42,729 18,979 7,257 71,327 195,178 2020 Crops Rice Dairy All other Sugarcane Total Beginning of the year 38,117 21,484 11,521 3,673 55,641 130,436 Increase due to purchases — — — 580 — 580 Initial recognition and changes in fair value of biological assets (i) 40,104 18,677 12,344 1,256 50,348 122,729 Decrease due to harvest / disposals (136,161) (51,673) (42,641) (2,760) (103,010) (336,245) Costs incurred during the year 103,076 41,243 32,043 2,003 85,006 263,371 Exchange differences (1,349) (669) (334) (49) (12,777) (15,178) End of the year 43,787 29,062 12,933 4,703 75,208 165,693 (i) Biological asset with a production cycle of more than one year (that is dairy and cattle) generated “Initial recognition and changes in fair value of biological assets” amounting to US$13,600 for the year ended December 31, 2021 (2020: US$4,257). In 2021, an amount of US$966 (2020: US$2,414) was attributable to price changes, and an amount of US$12,634 (2020: US$1,843) was attributable to physical changes. (ii) Biological assets that are measured at fair value within level 3 of the hierarchy. Cost of production as of December 31, 2021: Crops Rice Dairy All other Sugar, Total Salaries, social security expenses and employee benefits 3,622 8,554 5,978 800 9,681 28,635 Depreciation and amortization — — — — 4,288 4,288 Depreciation of right of use assets — — — — 34,312 34,312 Fertilizers, agrochemicals and seeds 55,223 15,549 — — 45,053 115,825 Fuel, lubricants and others 691 745 1,061 60 3,298 5,855 Maintenance and repairs 1,021 7,489 3,106 345 2,287 14,248 Freights 3,752 950 179 76 — 4,957 Contractors and services 49,213 23,602 — 10 7,072 79,897 Feeding expenses — — 20,534 373 — 20,907 Veterinary expenses — — 3,485 217 — 3,702 Energy power 36 3,666 1,092 6 — 4,800 Professional fees 430 187 104 6 408 1,135 Other taxes 1,339 118 10 97 53 1,617 Lease expense and similar arrangements 34,122 — 1 2 9,024 43,149 Others 2,522 1,617 762 29 776 5,706 Subtotal 151,971 62,477 36,312 2,021 116,252 369,033 Own agricultural produce consumed — — 14,011 821 — 14,832 Total 151,971 62,477 50,323 2,842 116,252 383,865 Cost of production as of December 31, 2020: Crops Rice Dairy All other Sugar, Total Salaries, social security expenses and employee benefits 2,662 5,822 4,215 672 9,161 22,532 Depreciation and amortization — — — — 3,892 3,892 Depreciation of right of use assets — — — — 27,862 27,862 Fertilizers, agrochemicals and seeds 43,446 9,655 10 — 32,376 85,487 Fuel, lubricants and others 672 534 754 51 2,097 4,108 Maintenance and repairs 1,018 4,451 1,820 229 1,943 9,461 Freights 1,832 453 118 49 — 2,452 Contractors and services 30,170 15,681 — 19 5,600 51,470 Feeding expenses — — 13,092 285 — 13,377 Veterinary expenses — — 2,395 189 — 2,584 Energy power 51 2,138 863 6 — 3,058 Professional fees 564 1,838 162 4 344 2,912 Other taxes 1,185 100 8 83 51 1,427 Lease expense and similar arrangements 19,693 109 3 2 1,005 20,812 Others 1,783 462 460 9 675 3,389 Subtotal 103,076 41,243 23,900 1,598 85,006 254,823 Own agricultural produce consumed — — 8,143 405 — 8,548 Total 103,076 41,243 32,043 2,003 85,006 263,371 Biological assets in December 31, 2021 and 2020 were as follows: 2021 2020 Non-current Cattle for dairy production (i) 18,428 12,600 Breeding cattle (ii) 707 2,003 Other cattle (ii) 220 122 19,355 14,725 Current Breeding cattle (iii) 6,330 2,578 Other cattle (iii) 551 333 Sown land – crops (ii) 54,886 43,787 Sown land – rice (ii) 42,729 29,062 Sown land – sugarcane (ii) (iv) 71,327 75,208 175,823 150,968 Total biological assets 195,178 165,693 (i) Classified as bearer and mature biological assets. (ii) Classified as consumable and immature biological assets. (iii) Classified as consumable and mature biological assets. (iv) It includes 6,969 and 3,702 of crops planted in sugarcane farms. The fair value less estimated point of sale costs of agricultural produce at the point of harvest amounted to US$532,480 for the year ended December 31, 2021 (2020: US$290,844). The following table presents the Group’s biological assets that are measured at fair value at December 31, 2021 and 2020 (see Note 17 to see the description of each fair value level): 2021 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cattle for dairy production — 18,428 — 18,428 — 12,600 — 12,600 Breeding cattle 7,037 — — 7,037 4,581 — — 4,581 Other cattle — 771 — 771 — 455 — 455 Sown land – sugarcane — — 71,327 71,327 — — 75,208 75,208 Sown land – crops — — 54,886 54,886 — — 43,787 43,787 Sown land – rice — — 42,729 42,729 — — 29,062 29,062 There were no transfers between any levels during the year. The following significant unobservable inputs were used to measure the Group’s biological assets using the discounted cash flow valuation technique: Description Unobservable Range of unobservable inputs Relationship of unobservable 2021 2020 Sown land – sugarcane Sugarcane yield – tonnes per hectare; Sugarcane TRS (kg of sugar per ton of cane) Production Costs – US$ per hectare. (Include maintenance, harvest and leasing costs) '-Sugarcane yield: 50-100 tn/ha -Sugarcane TRS: 120-140 kg of sugar/ton of cane -Maintenance costs: 500-800 US$/ha -Harvest costs: 6.0-12.0 US$/ton of cane -Leasing costs: 12.0-14.4 tn/ha '-Sugarcane yield: 60-100tn/ha - Sugarcane TRS: 120-140kg of sugar/ton of cane - Maintenance costs: 400-600 US$/ha - Harvest costs: 6.0-12.0 US$/ton of cane - Leasing costs: 12.0-14.4 tn/ha The higher the sugarcane yield, the higher the fair value. The higher the maintenance, harvest and leasing costs per hectare, the lower the fair value. The higher the TRS of sugarcane, the higher the fair value. Sown land – crops Crops yield – tonnes per hectare; Commercial Costs – US$ per hectare; '- Crops yield: 0.85 – 5.6 tn/ha for Wheat, 3.0 – 10 tn/ha for Corn, 1.1 - 4.0 tn/ha for Soybean, 1.7 - 2.5 for Sunflower and 2.5 - 3.6 tn/ha for Peanut - Commercial Costs: 17-54 US$/tn for Wheat, 14-62 US$/ton for Corn, 19-65 US$/ton for Soybean, 18-49 US$/ton for Sunflower and 36-69 US$/ha for Peanut - Production Costs: 166-899 US$/ha for Wheat, 334-1449 US$/ha for Corn, 214-1096 US$/ha for Soybean, 308-1005 US$/ha for Sunflower and 802-2060 US$/ha for Peanut '- Crops yield: 0.95 – 5.5 tn/ha for Wheat, 2.5 – 11 tn/ha for Corn, 0.8 - 3.8 tn/ha for Soybean, 0.6-3.0 for Sunflower and 2.5 - 3.5 tn/ha for Peanut - Commercial Costs: 6-43 US$/ha for Wheat, 2-51 US$/ha for Corn, 7-59 US$/ha for Soybean, 1-71 US$/ha for Sunflower and 22.0 - 31.0 US$/ha for Peanut - Production Costs: 115-612 US$/ha for Wheat, 198-990 US$/ha for Corn, 159-750 US$/ha for Soybean, 233-641 US$/ha for Sunflower and 695.0 - 1,400.0 US$/ha for Peanut The higher the crops yield, the higher the fair value. The higher the commercial and direct costs per hectare, the lower the fair value. Sown land – rice Rice yield – tonnes per hectare; '-Rice yield: 3.2 -10.1 tn/ha -Commercial Costs: 8-25 US$/ha -Production Costs: 810-1300 US$/ha '-Rice yield: 6.5 -7.5 tn/ha -Commercial Costs: 8-16 US$/ha -Production Costs: 750-950 US$/ha The higher the rice yield, the higher the fair value. The higher the commercial and direct costs per hectare, the lower the fair value. As of December 31, 2021, the impact of a reasonable 10% increase (decrease) in estimated costs, with all other variables held constant, would result in a decrease (increase) in the fair value of the Group’s plantations less cost to sell of US$14.8 million for sugarcane, US$5.4 million for crops and US$4.9 million for rice. As of December 31, 2020, the impact of a reasonable 10% increase (decrease) in estimated costs, with all other variables held constant, would result in a decrease (increase) in the fair value of the Group’s plantations less cost to sell of US$ 14.7 million for sugarcane, US$3.7 million for crops and US$3.7 million for rice.

Financial instruments by catego

Financial instruments by category	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Financial instruments by category	Financial instruments by category The Group classified its financial assets in the following categories: (a) Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are financial assets held for trading. A financial asset is classified in this category if acquired principally for the purpose of selling in the short-term. Derivatives are also categorized as held for trading unless they are designated as hedges. For all years presented, the Group’s financial assets at fair value through profit or loss comprise mainly derivative financial instruments. (b) Financial assets at amortized cost. Financial assets at amortized cost, namely loans and receivables, are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and receivables comprise “trade and other receivables” and “cash and cash equivalents” in the statement of financial position. The following tables show the carrying amounts of financial assets and financial liabilities by category of financial instrument and reconciliation to the corresponding line item in the statements of financial position, as appropriate. Since the line items “Trade and other receivables, net” and “Trade and other payables” contain both financial instruments and non-financial assets or liabilities (such as other tax receivables or advance payments for services to be received in the future), the reconciliation is shown in the columns headed “Non-financial assets” and “Non-financial liabilities”. Financial assets at amortized cost Assets at fair Subtotal Non- Total December 31, 2021 Assets as per statement of financial position Trade and other receivables 101,371 — 101,371 86,709 188,080 Derivative financial instruments — 1,585 1,585 — 1,585 Cash and cash equivalents 199,766 — 199,766 — 199,766 Total 301,137 1,585 302,722 86,709 389,431 Liabilities at Financial Subtotal Non- Total Liabilities as per statement of financial position Trade and other payables — 153,459 153,459 15,571 169,030 Borrowings (i) — 817,651 817,651 — 817,651 Leases Liabilities — 246,854 246,854 — 246,854 Derivative financial instruments (i) 1,283 — 1,283 — 1,283 Total 1,283 1,217,964 1,219,247 15,571 1,234,818 Financial assets at amortized cost Assets at fair Subtotal Non- Total December 31, 2020 Assets as per statement of financial position Trade and other receivables 109,231 — 109,231 88,697 197,928 Derivative financial instruments — 2,102 2,102 — 2,102 Cash and cash equivalents 336,282 — 336,282 — 336,282 Total 445,513 2,102 447,615 88,697 536,312 Liabilities at Financial Subtotal Non- Total Liabilities as per statement of financial position Trade and other payables — 114,813 114,813 11,792 126,605 Borrowings (i) — 971,090 971,090 — 971,090 Leases Liabilities — 195,772 195,772 — 195,772 Derivative financial instruments (i) 13,141 — 13,141 — 13,141 Total 13,141 1,281,675 1,294,816 11,792 1,306,608 (i) Effective July 1, 2013 the Group formally documented and designated cash flow hedging relationships to hedge the foreign exchange rate risk of a portion of its highly probable future sales in U.S. Dollars using a portion of its borrowings denominated in U.S. Dollars, currency forwards and foreign currency floating-to-fixed interest rate swaps (see Note 2). Because of the short maturities of most trade accounts receivable and payable, other receivables and liabilities, and cash and cash equivalents, their carrying amounts at the closing date do not differ significantly from their respective fair values. The fair value of long-term borrowings is disclosed in Note 26. Income, expense, gains and losses on financial instruments can be assigned to the following categories: Financial asset / liabilities at amortized cost Assets/ liabilities Total December 31, 2021 Interest income (i) 4,081 — 4,081 Interest expense (i) (62,536) — (62,536) Foreign exchange (losses) / gain (i) 18,939 — 18,939 Loss from derivative financial instruments (ii) — (15,478) (15,478) Finance cost related to lease liabilities (16,502) — (16,502) Financial assets / liabilities at amortized cost Assets/ liabilities Total December 31, 2020 Interest income (i) 4,084 — 4,084 Interest expense (i) (58,282) — (58,282) Foreign exchange gains losses (i) (109,266) — (109,266) Loss from derivative financial instruments (ii) — (8,228) (8,228) Finance cost related to lease liabilities (12,532) — (12,532) (i) Included in “Financial Results, net” in the consolidated statement of income. (ii) Included in “Other operating income, net” and “Financial Results, net” in the consolidated statement of income. Determining fair values IFRS 13 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. All financial instruments recognized at fair value are allocated to one of the valuation hierarchy levels of IFRS 13. This valuation hierarchy provides for three levels. The allocation reflects which of the fair values derive from transactions in the market and where valuation is based on models because market transactions are lacking. The level in the fair value hierarchy is categorized in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. As of December 31, 2021 and 2020, the financial instruments recognized at fair value on the statement of financial position comprise derivative financial instruments. In the case of Level 1, valuation is based on unadjusted quoted prices in active markets for identical financial assets that the Group can refer to at the date of the statement of financial position. The financial instruments the Group has allocated to this level mainly comprise crop futures and options traded on the stock market. Derivatives not traded on the stock market allocated to Level 2 are valued using models based on observable market data. The financial instruments the Group has allocated to this level mainly comprise interest-rate swaps and foreign-currency interest-rate swaps. In the case of Level 3, the Group uses valuation techniques not based on inputs observable in the market. This is only permissible insofar as no observable market data are available. The Group does not have financial instruments allocated to this level for any of the years presented. The following tables present the Group’s financial assets and financial liabilities that are measured at fair value as of December 31, 2021 and 2020 and their allocation to the fair value hierarchy: Level 1 Level 2 Total Assets Derivative financial instruments 2021 828 757 1,585 Derivative financial instruments 2020 151 1,951 2,102 Liabilities Derivative financial instruments 2021 (1,283) — (1,283) Derivative financial instruments 2020 (12,984) (157) (13,141) There were no transfers within level 1 and 2 during the years ended December 31, 2021 and 2020. When no quoted prices in an active market are available, fair values (particularly with derivatives) are based on recognized valuation methods. The Group uses a range of valuation models for this purpose, details of which may be obtained from the following table: Class Pricing Method Parameters Pricing Model Level Total Futures Quoted price — — 1 (455) Interest-rate swaps Theoretical price Money market interest-rate curve Present value method 2 757 302

Trade and other receivables, ne

Trade and other receivables, net	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Trade and other receivables, net	Trade and other receivables, net 2021 2020 Non-current Advances to suppliers 952 1,704 Income tax credits 6,862 5,283 Non-income tax credits (i) 19,156 18,195 Judicial deposits 1,674 2,188 Receivable from disposal of subsidiary (Note 21) 9,830 23,093 Other receivables 3,757 1,803 Non-current portion 42,231 52,266 Current Trade receivables 63,726 58,530 Less: Allowance for trade receivables (3,023) (3,965) Trade receivables – net 60,703 54,565 Prepaid expenses 9,405 10,427 Advances to suppliers 19,074 17,751 Income tax credits 1,846 1,709 Non-income tax credits (i) 29,414 33,628 Receivable from disposal of subsidiary (Note 21) 17,259 15,506 Cash collateral 21 36 Other receivables 8,127 12,040 Subtotal 85,146 91,097 Current portion 145,849 145,662 Total trade and other receivables, net 188,080 197,928 (i) Includes US$303 (2020: US$363) reclassified from property, plant and equipment. The fair values of current trade and other receivables approximate their respective carrying amounts due to their short-term nature. The fair values of non-current trade and other receivables approximate their carrying amount, as the impact of discounting is not significant. The carrying amounts of the Group’s trade and other receivables are denominated in the following currencies (expressed in U.S. Dollars): 2021 2020 Currency U.S. Dollar 62,604 56,531 Argentine Peso 55,260 55,433 Uruguayan Peso 460 811 Brazilian Reais 69,756 85,153 188,080 197,928 As of December 31, 2021 trade receivables of US$11,224 (2020: US$11,623) were past due but not impaired. The aging analysis of these receivables indicates that US$717 and US$977 are over 6 months in December 31, 2021 and 2020, respectively. Since January 1, 2018, for trade receivables, the Company applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognized from initial recognition of the receivables. Delinquency in payments was an indicator that a receivable may be impaired. However, management considers all available evidence in determining when a receivable is impaired. Generally, trade receivables, which are more than 180 days past due are fully provided for. However, certain receivables 180+ days overdue are not provided for based on a case-by-case analysis of credit quality analysis. Furthermore, receivables, which are not 180+ days overdue, may be provided for if specific analysis indicates a potential impairment. Movements on the Group’s allowance for trade receivables are as follows: 2021 2020 2019 At January 1 3,965 3,773 2,503 Charge of the year 2,022 2,192 3,656 Acquisition of subsidiary — — 46 Unused amounts reversed (970) (769) (1,314) Used during the year (1,456) (446) (48) Exchange differences (538) (785) (1,070) At December 31 3,023 3,965 3,773 The creation and release of allowance for trade receivables have been included in “Selling expenses” in the statement of income. Amounts charged to the allowance account are generally written off, when there is no expectation of recovering additional cash. The maximum exposure to credit risk at the reporting date is the carrying value of each class of receivable mentioned above. As of December 31, 2021, approximately 53% (2020: 25%) of the outstanding unimpaired trade receivables (neither past due not impaired) relate to sales to 24 well-known multinational companies with good credit quality standing, including but not limited to Itersnack Procurement B.V., Camara de Comercializacao de Energia Electrica CCEE, The Real Peunats Company, Interfood Americas S.A., Mastellone Hnos. S.A., Cencosud S.A., among others. Most of these entities or their parent companies are externally credit-rated. The Group reviews these external ratings from credit agencies. The remaining percentage as of December 31, 2021 and 2020 of the outstanding unimpaired trade receivables (neither past due nor impaired) relate to sales to a dispersed large quantity of customers for which external credit ratings may not be available. However, the total base of customers without an external credit rating is relatively stable. New customers with less than six months of history with the Group are closely monitored. The Group has not experienced credit problems with these new customers to date. The majority of the customers for which an external credit rating is not available are existing customers with more than six months of history with the Group and with no defaults in the past. A minor percentage of customers may have experienced some non-significant defaults in the past but fully recovered.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2021
Disclosure of Inventories [Abstract]
Inventories	Inventories 2021 2020 Raw materials 101,270 56,420 Finished goods (Note 5) (1) 138,254 77,041 239,524 133,461 (1) Finished goods of Crops reportable segment are valued at fair value.

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Cash and cash equivalents	Cash and cash equivalents 2021 2020 Cash at bank and on hand 152,721 178,079 Short-term bank deposits 47,045 158,203 199,766 336,282

Disposals and acquisitions

Disposals and acquisitions	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about business combination [abstract]
Disposals and acquisitions	Disposals and acquisitions Acquisitions In January 2019, the Company acquired, the remaining 50% of CHS Agro S.A. a joint venture between the Company and CHS Argentina S.A. After this acquisition, we own 100% of CHS Agro S.A. which has since been renamed as Girasoles del Plata S.A. The consideration for this operation was nominal. At the day of the acquisition, the company had our participation valued at 0. As a result of this transaction, the Company recognized a gain in the line item Other Operating Income of USD 0.2 million. In January 2019, the Company acquired 100% of Olam Alimentos S.A. whose principal asset is a peanuts processing facility located in the Province of Córdoba, (currently Mani del Plata S.A.) from Olam International Ltd. The consideration for this acquisition was USD 10 million to be disbursed in three installments, with the first and second payments made at closing. This transaction qualifies as a purchase of assets. In February 2019, the Company acquired two dairy facilities from SanCor Cooperativas Unidas Limitada ("SanCor"). The first facility is located in Chivilcoy, Province of Buenos Aires and processes fluid milk while the second facility is located in Morteros, Province of Cordoba and produces powder milk and cheese. Together with these facilities, the company also acquired the brands Las Tres Niñas and Angelita. The total consideration for these operations was US$47 million. This transaction qualifies as a purchase of assets. Disposals In December 2020, the Company completed the sale of Global Seward S.L.U. and Peak City S.L.U. wholly owned subsidiaries, which main underlying asset is Huelen Farm at the selling price of US$30.1 million, USD 10.1 million were collected at closing, an other 10 million during 2021. The balance will be collected by the end of 2022. This transaction resulted in a loss before tax of US$ 0.6 million included in the line item “Other operating income,”and also in the reclassification of Revaluation surplus to retained earnings of US$2.2 million. In June 2020, the Company collected US$12.1 million in consideration of the sale of 811.70 hectares farm in the Province of Santa Fe, Argentina. This transaction resulted in a gain before tax of US$2.1 million included in the line item “Other operating income” and also in the reclassification of Revaluation surplus to retained earnings before income tax of US$8.0 million reflected in the Statements of changes in shareholders equity. In January 2019, we completed the sale of Q065 Negócios Imobiliários Ltda., a wholly owned subsidiary, which main underlying asset is the Alto Alegre Farm, for a selling price of US$16.6 million (Reais 62.5 million), of which US$2.2 million (Reais 8.4 million) has already been collected and the balance will be collected in seven annual installments starting in June 2019. This transaction resulted in a gain before tax of US$1.5 million, and also in the reclassification of Revaluation surplus to retained earnings of US$8.0 million. Agreement to acquire rice operations On December 21, 2021, the Group, through certain subsidiaries, agreed to acquire the rice production operations in Uruguay and Argentina currently owned by certain subsidiaries of Viterra Limited, a third party company. The acquisition is subject to the satisfaction of customary closing conditions, including the receipt of certain government approvals in Uruguay,

Shareholders' contributions

Shareholders' contributions	12 Months Ended
	Dec. 31, 2021
Statement of changes in equity [abstract]
Shareholders' contributions	Shareholders' contributions The share capital of the Group is represented by common shares with a nominal value of US$1.5 per share and one vote each. Number of shares Share capital and At January 1, 2019 122,382 1,084,076 Restricted shares and units vested (Note 23) — 4,455 Purchase of own shares — (3,219) At December 31,2019 122,382 1,085,312 Restricted shares and units vested (Note 23) — 4,182 Purchase of own shares — (3,106) At December 31,2020 122,382 1,086,388 Restricted shares units vested (Note 23) — 3,594 Purchase of own shares — (55,349) At December 31,2021 122,382 1,034,633 (1) Treasury shares were used to settle these options and units. Decision of the Extraordinary General Shareholders’ meeting On April 20, 2022 the extraordinary general meeting of the shareholders of the Company resolved to reduce the issued share capital of the Company by an amount of $16,500,000 by the cancellation of 11,000,000 shares with a nominal value of $1.50 each held in treasury by the Company so that, as from April 20, 2022, our issued share capital amounts to $167,072,722.50, represented by 111,381,815 shares in issue (of which 52,254 are treasury shares) with a nominal value of $1.50 each. Share Repurchase Program On September 24, 2013, the Board of Directors of the Company has authorized a share repurchase program for up to 5% of its outstanding shares. The repurchase program has commenced on September 24, 2013 and is reviewed by the Board of Directors after each 12-month period. On August 10, 2021, the Board of Directors approved the extension of the program for an additional twelve-month period, ending September 23, 2022. Repurchases of shares under the program are made from time to time in open market transactions in compliance with the trading conditions of Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended, and applicable rules and regulations. The share repurchase program does not require Adecoagro to acquire any specific number or amount of shares and may be modified, suspended, reinstated or terminated at any time in the Company’s discretion and without prior notice. As of December 31, 2021, the Company repurchased 17,366,080 shares under this program, of which 6,143,349 have been applied to some exercise of the Company’s stock option plan and restricted stock units and the grant of restricted shares. In 2021, 2020 and 2019 the Company repurchased shares for an amount of US$ thousands 66,462; US$ thousands 4,365 and US$ thousands 4,263 respectively. The outstanding treasury shares as of December 31, 2021 totaled 11,285,043. Annual Dividend Proposal On March 11, 2022 the Company’s Board of Directors proposed, for the approval of the Annual General Shareholders' meeting to be held on April 20, 2022, the payment of an annual dividend of $35 million to be paid to outstanding shares in two installments in May and November. This proposal was approved by the Shareholders’ meeting These Consolidated Financial Statements do not reflect this dividend payable.

Equity-settled share-based paym

Equity-settled share-based payments	12 Months Ended
	Dec. 31, 2021
Share-Based Payment Arrangements [Abstract]
Equity-settled share-based payments	Equity-settled share-based payments The Group has set a “2004 Incentive Option Plan” and a “2007/2008 Equity Incentive Plan” (collectively referred to as “Option Schemes”) under which the Group granted equity-settled options to senior managers and selected employees of the Group's subsidiaries with a term of ten years. Additionally, in 2010 the Group has set a “Adecoagro Restricted Share and Restricted Stock Unit Plan” (referred to as “Restricted Share Plan”) under which the Group grants restricted stock units and restricted shares to senior and medium management and key employees of the Group’s subsidiaries. (a) Option Schemes The fair value of the options under the Option Schemes was measured at the date of grant using the Black-Scholes valuation technique. As of the date of these financial statements all options has already been vested and expensed. The Adecoagro/ IFH 2004 Stock Incentive Option Plan was effectively established in 2004 and is administered by the Compensation Committee of the Company. Options are exercisable over a ten-year period. In May 2014 this period was extended for another ten year-period. Movements in the number of equity-settled options outstanding and their related weighted average exercise prices under the Adecoagro/ IFH 2004 Stock Incentive Option Plan are as follows: 2021 2020 2019 Average Options Average Options Average Options At January 1 6.66 1,634 6.66 1,634 6.66 1,634 Exercised — — — — — — At December 31 6.66 1,634 6.66 1,634 6.66 1,634 Options outstanding at year end under this Plan have the following expiry date and exercise prices: Exercise Shares (in thousands) Expiry date (i): 2021 2020 2019 May 1, 2024 5.83 496 496 496 May 1, 2025 5.83 452 452 452 January 1, 2026 5.83 142 142 142 February 16, 2026 7.11 103 103 103 October 1, 2026 8.62 441 441 441 (i) On May 2014, the Board of Directors decided to extend the expired date of the Plan. The Adecoagro/ IFH 2007/ 2008 Equity Incentive Plan was effectively established in late 2007 and expired during 2020, with no options excercised. (b) Restricted Share / Restricted Stock Unit Plan The Restricted Share and Restricted Stock Unit Plan was effectively established in 2010 and amended in November 2011. It is administered by the Compensation Committee of the Company. Restricted shares or units under these Plan vest over a 3-year period from the date of grant at 33% on each anniversary of the grant date. Participants are entitled to receive one common share of the Company for each restricted share or restricted unit granted. There are no performance requirements for the delivery of common shares, except that a participant’s employment with the Group must not have been terminated prior to the relevant vesting date. If the participant ceases to be an employee for any reason, any unvested restricted share or unit shall not be converted into common shares. The maximum number of ordinary shares with respect to which awards may be made under the Plan is 5,379,164, of which 3,809,322 have already been vested and 1,396,221 will be vested on future periods. The maximum numbers of ordinary shares are revised annually. At December 31, 2021, the Group recognized compensation expense US$6.6 million related to the restricted stock units granted under the Restricted Share Plan (2020: US$4.4 million and 2017: US$4.7 million). The restricted shares under the Restricted Share Plan were measured at fair value at the date of grant. Key grant-date fair value and other assumptions under the Restricted Share Plan are detailed below: Grant Date Apr 1, May 15, Apr 1, May 12, Apr 1, May 13, Fair value 7.00 7.20 5.65 7.45 8.36 8.09 Possibility of ceasing employment before vesting — % — % — % — % — % — % Movements in the number of restricted shares outstanding under the Restricted Share Plan are as follows: Restricted shares (thousand) Restricted stock units (thousands) 2021 2020 2019 2021 2020 2019 At January 1 1,222 750 — 174 508 976 Granted (1) 1,067 751 753 — — 20 Forfeited (32) (24) (3) — (10) (12) Vested (491) (255) — (174) (324) (476) At December 31 1,766 1,222 750 — 174 508 (1) Approved by the Board of Directors of March 09, 2021 and the Shareholders Meeting of April 21, 2021.

Legal and other reserves

Legal and other reserves	12 Months Ended
	Dec. 31, 2021
Disclosure of reserves within equity [abstract]
Legal and other reserves	Legal and other reserves According to the laws of certain of the countries in which the Group operates, a portion of the profit of the year (5%) is separated to constitute legal reserves until they reach legal capped amounts. These legal reserves are not available for dividend distribution and can only be released to absorb losses. The legal limit of these reserves has not been met. Legal and other reserves amount to US$14,643 as of December 31, 2021 (2020: US$9,662) and are included within the balance of retained earnings in the statement of changes in shareholders’ equity. The Company may make distributions in the form of dividends or otherwise to the extent that it has distributable retained earnings or available distributable reserves (including share premium) that result from the Stand Alone Financial Statements prepared in accordance with Luxembourg GAAP. No distributable retained earning result from the Stand Alone Financial Statements of the Company as of December 31, 2021, but the Company has distributable reserves in excess of US$935,111. 24. Legal and other reserves (continued) In the other reserves line, it is included the benefit that the Company has regarding ICMS conceded by the government of the Estate of Mato Grosso do Sul. In accordance with the Complementary Law 160/17, grants related to ICMS, conceded by any Estate of Brazil, were considered as Investments Grants. This investment grants will not be computed to calculate income tax, since they were accounted as an Equity Reserve. This reserve cannot be distributed, unless income tax is paid on the reserve.

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Trade and other payables	Trade and other payables 2021 2020 Non-current Other payables 284 290 284 290 Current Trade payables 151,979 110,662 Advances from customers 8,705 4,755 Taxes payable 6,866 7,037 Payables from acquisition of property, plant and equipment — 3,569 Other payables 1,196 292 168,746 126,315 Total trade and other payables 169,030 126,605 The fair values of current trade and other payables approximate their respective carrying amounts due to their short-term nature. The fair values of non-current trade and other payables approximate their carrying amounts, as the impact of discounting is not significant.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2021
Financial Instruments [Abstract]
Borrowings	Borrowings 2021 2020 Non-current Senior Notes 497,455 497,009 Bank borrowings 208,032 316,455 705,487 813,464 Current Senior Notes 8,250 8,250 Bank overdrafts 11,768 50,447 Bank borrowings 92,146 98,929 112,164 157,626 Total borrowings 817,651 971,090 As of December 31, 2021, total bank borrowings include collateralized liabilities of US$70,221 (2020: US$97,999). These loans are mainly collateralized by property, plant and equipment, sugarcane plantations, sugar export contracts and shares of certain subsidiaries of the Group. Notes 2027 On September 21, 2017, the Company issued senior notes (the “Notes”) for US$500 million, at an annual nominal rate of 6%. The Notes will mature on September 21, 2027. Interest on the Notes are payable semi-annually in arrears on March 21 and September 21 of each year. The total proceeds nets of expenses was US$495.7 million. The Notes are fully and unconditionally guaranteed on a senior unsecured basis by certain of our current and future subsidiaries. As of the Issue Date, Adeco Agropecuaria S.A., Adecoagro Brasil Participações S.A., Adecoagro Vale do Ivinhema S.A., Pilagá S.A. and Usina Monte Alegre Ltda. are the only Subsidiary Guarantors. The Notes contain customary financial covenants and restrictions which require us to meet pre-defined financial ratios, among other restrictions. As of December 31, 2021 and 2020 the Group was in compliance with these financial covenants. The maturity of the Group's borrowings and the Group's exposure to fixed and variable interest rates is as follows: 2021 2020 Fixed rate: Less than 1 year 104,349 116,113 Between 1 and 2 years 12,503 52,175 Between 2 and 3 years 12,500 39,844 Between 3 and 4 years — 12,500 More than 5 years 497,455 497,009 626,807 717,641 Variable rate: Less than 1 year 7,815 41,513 Between 1 and 2 years 5,075 32,870 Between 2 and 3 years 31,754 6,035 Between 3 and 4 years 29,255 5,154 Between 4 and 5 years 71,045 28,334 More than 5 years 45,900 139,543 190,844 253,449 817,651 971,090 Borrowings incurred by the Group’s subsidiaries in Brazil are repayable at various dates between January 2022 and November 2027 and bear either fixed interest rates ranging from 2.50% to 7.95% per annum or variable rates based on base-rates plus spreads ranging from 5.16% to 14.73% per annum. As of December 31, 2021 and 2020 there are no borrowings subject to LIBOR (six months). Borrowings incurred by the Group’s subsidiaries in Argentina are repayable at various dates between January 2022 and June 2028 and bear either fixed interest rates ranging from —% and 6.2% per annum or variable rates based on LIBOR or other specific base-rates plus spreads of 4.0% for those borrowings denominated in U.S. Dollar, and a fixed interest rates ranging from 34% to 39% per annum for those borrowings denominated in Argentine pesos. Brazilian Subsidiaries The main loans of the Group’s Brazilian Subsidiaries are: Bank Grant date Nominal amount Capital outstanding as of December 31 Maturity date Annual interest rate 2021 2020 (In millions) Millions of Millions of equivalent Dollars Millions of Banco Do Brasil (FCO) (1) October 2012 R$ 130.0 R$ 17.7 3.17 7.08 November 2022 2.94% minus 15% of performance bonus Itau BBA (FINAME) (2) December 2012 R$ 45.9 R$ 2.1 0.37 1.40 December 2022 2.50% Banco do Brasil / Itaú BBA (FINEM) (3) September 2013 R$ 273.0 R$ 26.5 4.75 9.51 January 2023 7.29% BNDES (FINEM) (4) November 2013 R$ 215.0 R$ 29.5 5.28 10.66 January 2023 4.63% Certificados Recebíveis do Agronegócio (CRA) December 2019 R$ 467.0 R$ 467.0 83.68 77.92 November 2027 3.80% + IPCA Debenture December 2020 R$ 447.0 R$ 447.0 80.10 14.43 December 2026 4.24% + IPCA ING Bank N.V (5) October 2018 US$ 75.0 US$ — — 75.0 October 2023 6.33% (1) Collateralized by (i) a first degree mortgage of the Carmen farm; and (ii) liens over the Ivinhema mill and equipment. (2) Collateralized by (i) a first degree mortgage of the Carmen farm; (ii) liens over the Ivinhema mill and equipment; and (iii) long term power purchase agreements (PPA). (3) Collateralized by (i) liens over the Ivinhema mill and equipment; and (ii) power sales contracts. (4) Collateralized by long term power purchase agreement (PPA). (5) Canceled during 2021. In December 2019, Adecoagro Vale do Ivinhema placed R$400.0 million in Certificados de Recebíveis do Agronegócio (CRA) adjustable by the IPCA (Brazilian official inflation rate), maturing in November 2027 and bearing an interest 3.80% per annum. This debt was issued with no guarantee. The above mentioned loans, except the CRA, contain certain customary financial covenants and restrictions which require the company to meet pre-defined financial ratios, among other restrictions, as well as restrictions on the payment of dividends. These financial ratios are measured considering the statutory financial statements of the Brazilian Subsidiaries. As of December 31, 2021 and 2020 the Group was in compliance with all financial covenants. Argentinian Subsidiaries The main loans of the Group’s Argentinian Subsidiaries are: Bank Grant date Nominal Capital outstanding as of Maturity date Annual interest rate 2021 2020 (In millions) (In millions) (In millions) Rabobank (1) 2018 US$50.0 37.50 50.00 June, 2024 6.17% IFC Tranche A (2) 2020 US$12.6 12.35 12.60 June, 2028 4% plus LIBOR IFC Tranche B (2) 2020 US$9.4 9.22 9.41 June, 2028 4% plus LIBOR (1) Collateralized by the pledged of the shares of Dinaluca S.A., Compañía Agroforestal S.M.S.A. and Girasoles del Plata S.A. (2) Collateralized by a US$241.8 million mortgage over Carmen, Abolengo, San Carlos, Las Horquertas, and La Rosa farm, which is property of Adeco Agropecuaria S.A. A US$35.7 million mortgage over El Meridiano farm, which is property of Pilaga S.A. and a US$44.3 million mortgage over Santa Lucia farm, which is property of Bañados del Salado S.A. Loan with International Finance Corporation (IFC) In June 2020, our Argentine subsidiaries, Adeco Agropecuaria S.A., Pilagá S.A. and L3N S.A. entered into a US$100 million loan agreement with International Finance Corporation (IFC), member of the World Bank Group. The loan's tenor is eight years, including a two-year grace period, with a rate of LIBOR + 4%. In October 2020, US$22 million has been received. In December 2021, we entered into an amendment reducing the total amount to USD 60 million, that the group could request the withdrawal until June, 2022. If the Company withdraw the full amount, the rate would be reduced to LIBOR + 3% The loan contains customary financial covenants and restrictions which require us to meet pre-defined financial ratios, among other restrictions. The above mentioned loans contain certain customary financial covenants and restrictions which require us to meet pre-defined financial ratios, among other restrictions, as well as restrictions on the payment of dividends. These financial ratios are measured considering the statutory financial statements of the Argentinian Subsidiaries. As of December 31 2021 and 2020 the Group was in compliance with all financial covenants. The carrying amount of short-term borrowings is approximate its fair value due to the short-term maturity. Long term borrowings subject to variable rate approximate their fair value.The fair value of long-term subject to fix rate do not significant differ from their fair value. The fair value (level 2) of the notes as of December 31 2021 and 2020 equals US$517.3 million and US$528 million, 103.47% and 105.65% of the nominal amount, respectively. The breakdown of the Group’s borrowing by currency is included in Note 2 - Interest rate risk. Evolution of the Group's borrowings as December 31, 2021 and 2020 is as follow: 2021 2020 Amount at the beginning of the year 971,090 968,280 Proceeds from long term borrowings 30,972 116,015 Payments of long term borrowings (108,425) (34,750) Proceeds from short term borrowings 286,115 207,217 Payments of short term borrowings (328,463) (233,540) Payments of interest (1) (49,592) (57,914) Accrued interest 48,791 52,800 Exchange differences, inflation and translation, net (52,693) (55,612) Others 19,856 8,594 Amount at the end of the year 817,651 971,090 (1) Excludes payment of interest related to trade and other payables.

Lease liabilities

Lease liabilities	12 Months Ended
	Dec. 31, 2021
Disclosure of leases [Abstract]
Lease liabilities	Lease liabilities 2021 2020 Lease liabilities Non-current 201,718 159,435 Current 45,136 36,337 246,854 195,772 The maturity of the Group’s lease liabilities is as follows: 2021 2020 Less than 1 year 45,136 36,337 Between 1 and 2 years 44,847 20,276 Between 2 and 3 years 38,745 30,228 Between 3 and 4 years 30,085 23,920 Between 4 and 5 years 24,072 19,951 More than 5 years 63,969 65,060 246,854 195,772 Agricultural "partnerships" Others Total Amount at the beginning of the year 178,423 17,349 195,772 Exchange differences (11,698) 51 (11,647) Additions and re-measurement 93,091 15,409 108,500 Payments (53,206) (9,067) (62,273) Finance cost related to lease liabilities 15,403 1,099 16,502 Closing net book amount 222,013 24,841 246,854

Payroll and social securities p

Payroll and social securities payable	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Payroll and social security liabilities	Payroll and social security liabilities 2021 2020 Non-current Social security payable 1,243 1,075 1,243 1,075 Current Salaries payable 2,617 2,774 Social security payable 3,499 2,827 Provision for vacations 8,136 6,866 Provision for bonuses 10,799 10,866 25,051 23,333 Total payroll and social security liabilities 26,294 24,408

Provisions for other liabilitie

Provisions for other liabilities	12 Months Ended
	Dec. 31, 2021
Disclosure of other provisions [abstract]
Provisions for other liabilities	Provisions for other liabilities The Group is subject to several laws, regulations and business practices of the countries where it operates. In the ordinary course of business, the Group is subject to certain contingent liabilities with respect to existing or potential claims, lawsuits and other proceedings, including those involving tax, labor and social security, administrative and civil and other matters. The Group accrues liabilities when it is probable that future costs will be incurred and it can reasonably estimate them. The Group bases its accruals on up-to-date developments, estimates of the outcomes of the matters and legal counsel experience in contesting, litigating and settling matters. As the scope of the liabilities becomes better defined or more information is available, the Group may be required to change its estimates of future costs, which could have a material effect on its results of operations and financial condition or liquidity. The table below shows the movements in the Group's provisions for other liabilities categorized by type of provision: Labor, legal and Others Total At January 1, 2020 3,126 46 3,172 Additions 890 1,449 2,339 Used during year (407) — (407) Exchange differences (745) — (745) At December 31, 2020 2,864 1,495 4,359 Additions 917 3,475 4,392 Used during year (1,028) (1,455) (2,483) Exchange differences (226) (56) (282) At December 31, 2021 2,527 3,459 5,986 Analysis of total provisions: 2021 2020 Non current 2,565 2,705 Current 3,421 1,654 5,986 4,359 The Group is engaged in several legal proceedings, including tax, labor, civil, administrative and other proceedings in Brazil, which qualified as contingent liabilities for an aggregate claimed nominal amount of US$72.1 million and US$73.7 million as of December 31, 2021 and 2020, respectively. These amounts refers to a claim of the tax authorities in Brazil of the exclusion of the calculation base of Income Tax of the accelerated depreciation of rural activity as provided for in article 6 of Provisional Measure 2,159-70 / 01 and in Article 325 of the Income Tax Regulation / 18.

Group companies

Group companies	12 Months Ended
	Dec. 31, 2021
Disclosure of subsidiaries [abstract]
Group companies	Group companies The following table details the subsidiaries that comprised the Group as of December 31, 2021 and 2020: 2021 2020 Activities Country of Ownership Ownership Details of principal subsidiary undertakings: Operating companies (unless otherwise stated): Adeco Agropecuaria S.A. (a) Argentina — — Pilagá S.A. (a) Argentina 99.94 % 99.94 % Cavok S.A. (a) Argentina 51 % 51 % Establecimientos El Orden S.A. (a) Argentina 51 % 51 % Bañado del Salado S.A. (a) Argentina — — Agro Invest S.A. (a) Argentina 51 % 51 % Forsalta S.A. (a) Argentina 51 % 51 % Dinaluca S.A. (a) Argentina — — Compañía Agroforestal S.M.S.A. (a) Argentina — — Energía Agro S.A.U. (a) Argentina — — L3N S.A. (d) Argentina — — Maní del Plata S.A. (a) Argentina — — Girasoles del Plata S.A. (a) Argentina — — Adeco Agropecuaria Brasil S.A. (b) Brazil — — Adecoagro Vale do Ivinhema S.A. ("AVI") (b) Brazil — — Usina Monte Alegre Ltda. ("UMA") (b) Brazil — — Monte Alegre Energia Ltda. (b) Brazil — — Adecoagro Energia Ltda. (b) Brazil — — Adecoagro Agricultura e Participação Ltda. (b) Brazil — — Kelizer S.A. (a) Uruguay — — Adecoagro Uruguay S.A. (a) Uruguay — — Adecoagro Chile S.P.A (a) Chile — — Holdings companies: Adeco Brasil Participações S.A. — Brazil — — Adecoagro LP S.C.S. — Luxembourg — — Adecoagro GP S.a.r.l. — Luxembourg — — Ladelux S.C.A. — Uruguay — — Spain Holding Companies (c) Spain — — (a) Mainly crops, rice, cattle and others. (b) Mainly sugarcane, ethanol and energy. (c) Comprised by (1) wholly owned subsidiaries: Kadesh Hispania S.L.U.; Leterton España S.L.U.; Global Asterion S.L.U.; Global Acasto S.L.U.; Global Laertes S.L.U.; Global Pindaro S.L.U.; Global Pileo S.L.U.; Peak Texas S.L.U.; Global Neimoidia S.L.U. and 51% controlled subsidiaries; Global Acamante S.L.U.; Global Carelio S.L.U.; Global Calidon S.L.U.; Global Mirabilis S.L.U. Global Anceo S.L.U.Global Hisingen S.L.U. (d) Mainly dairy. The percentage voting right for each principal subsidiary is the same as the percentage of capital stock held. Issued share capital represents only ordinary shares/ quotas, units or their equivalent. There are no preference shares or units issued in any subsidiary undertaking.

Related-party transactions

Related-party transactions	12 Months Ended
	Dec. 31, 2021
Related Party [Abstract]
Related-party transactions	Related-party transactions The following is a summary of the balances and transactions with related parties: Related party Relationship Description of transaction Income (loss) included in the Balance receivable 2021 2020 2019 2021 2020 Management and selected employees Employment Compensation selected employees (7,883) (5,232) (7,122) (16,198) (15,499)

Critical accounting estimates a

Critical accounting estimates and judgments	12 Months Ended
	Dec. 31, 2021
Disclosure of Changes in Accounting Policies, Accounting Estimates and Errors [Abstract]
Critical accounting estimates and judgments	Critical accounting estimates and judgments Critical accounting policies are those that are most important to the portrayal of the Group’s financial condition, results of operations and cash flows, and require management to make difficult, subjective or complex judgments and estimates about matters that are inherently uncertain. Management bases its estimates on historical experience and other assumptions that it believes are reasonable. The Group’s critical accounting policies are discussed below. Actual results could differ from estimates used in employing the critical accounting policies and these could have a material impact on the Group’s results of operations. The Group also has other policies that are considered key accounting policies, such as the policy for revenue recognition. However, these other policies, which are discussed in the notes to the Group’s financial statements, do not meet the definition of critical accounting estimates, because they do not generally require estimates to be made or judgments that are difficult or subjective. (a) Impairment of non-financial assets At the date of each statement of financial position, the Group reviews the carrying amounts of its property, plant and equipment and finite lived intangible assets to determine whether there is any indication that those assets could have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent, if any, of the impairment loss. Where the asset does not generate cash flows that are independently, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. The Group’s property, plant and equipment items generally do not generate independent cash flows. In the case of Goodwill, any goodwill acquired is allocated to the cash-generating unit (‘CGU’) expected to benefit from the business combination. CGU to which goodwill is allocated is tested for impairment annually, or more frequently if events or changes in circumstances indicate that the carrying amount of the CGU may be impaired. The carrying amount of the CGU is compared to its recoverable amount, which is the higher of fair value less costs to sell and the value in use. An impairment loss is recognized for the amount by which the carrying amount exceeds its recoverable amount. The impairment review requires management to undertake certain significant judgments, including estimating the recoverable value of the CGU to which goodwill is allocated, based on either fair value less costs-to-sell or the value-in-use, as appropriate, in order to reach a conclusion on whether it deems the goodwill is impaired or not. For purposes of the impairment testing, each CGU represents the smallest identifiable group of assets that generate cash inflows that are largely independent of the cash inflows from other assets or group of assets. Farmlands may be used for different activities that may generate independent cash flows. Those farmlands that are used for more than one segment activity (i.e. crops and cattle or rental income), the farmland is further subdivided into two or more CGUs, as appropriate, for purposes of impairment testing. For its properties in Brazil, management identified a farmland together with its related mill as separate CGUs. Most of the farmlands in Argentina and Uruguay are treated as single CGUs. Based on these criteria, management identified a total amount of 39 CGUs as of September 30, 2021 and 40 CGUs as of September 30, 2020. As of September 30, 2021 and 2020, due to the fact that there were no impairment indicators, the Group only tested those CGUs with allocated goodwill in Argentina and Brazil. CGUs tested based on a fair-value-less-costs-to-sell model at September 30, 2021 and 2020: As of September 30, 2021, the Group identified 11 CGUs in Argentina (2020: 12 CGUs) to be tested based on this model (all CGUs with allocated goodwill). Estimating the fair value less costs-to-sell is based on the best information available, and refers to the amount at which the CGU could be bought or sold in a current transaction between willing parties. Management may be assisted by the work of external advisors. When using this model, the Group applies the “sales comparison approach” as its method of valuing most properties, which relies on results of sales of similar agricultural properties to estimate the value of the CGU. This approach is based on the theory that the fair value of a property is directly related to the selling prices of similar properties. Fair values are determined by extensive analysis which includes current and potential soil productivity of the land (the ability to produce crops and maintain livestock) projected margins derived from soil use, rental value obtained for soil use, if applicable, and other factors such as climate and location. Farmland ratings are established by considering such factors as soil texture and quality, yields, topography, drainage and rain levels. Farmland may contain farm outbuildings. A farm outbuilding is any improvement or structure that is used for farming operations. Outbuildings are valued based on their size, age and design. Based on the factors described above, each farm property is assigned different soil classifications for the purposes of establishing a value, Soil classifications quantify the factors that contribute to the agricultural capability of the soil. Soil classifications range from the most productive to the least productive. The first step to establishing an assessment for a farm property is a sales investigation that identifies the valid farm sales in the area where the farm is located. A price per hectare is assigned for each soil class within each farm property. This price per hectare is determined based on the quantitative and qualitative analysis mainly described above. The results are then tested against actual sales, if any, and current market conditions to ensure the values produced are accurate, consistent and fair. The following table shows only the 11 CGUs (2020: 12 CGUs) where goodwill was allocated at each period end and the corresponding amount of goodwill allocated to each one: CGU / Operating segment / Country September 30, 2021 September 30, 2020 La Carolina / Crops / Argentina 197 168 La Carolina / Cattle / Argentina 32 27 El Orden / Crops / Argentina 212 180 El Orden / Cattle / Argentina 8 7 La Guarida / Crops / Argentina 1,407 1,196 La Guarida / Cattle / Argentina 725 616 Los Guayacanes / Crops / Argentina 2,606 2,215 Doña Marina / Rice / Argentina 4,536 3,856 Huelen / Crops / Argentina (1) — 3,838 El Colorado / Crops / Argentina 2,256 1,918 El Colorado / Cattle / Argentina 22 19 Closing net book value of goodwill allocated to CGUs tested (Note 15) 12,001 14,040 Closing net book value of PPE items allocated to CGUs tested 143,064 161,010 Total assets allocated to CGUs tested 155,065 175,050 (1) Dispose on December 2020, see Note 21. Based on the testing above, the Group determined that none of the CGUs, with allocated goodwill, were impaired at September 30, 2021 and 2020. CGUs tested based on a value-in-use model at September 30, 2021 and 2020: As of September 30, 2021, the Group identified 2 CGUs (2020: 2 CGUs) in Brazil to be tested based on this model (all CGUs with allocated goodwill). The determination of the value-in-use calculation required the use of significant estimates and assumptions related to management’s cash flow projections. In performing the value-in-use calculation, the Group applied pre-tax rates to discount the future pre-tax cash flows. In each case, these key assumptions have been made by management reflecting past experience and are consistent with relevant external sources of information, such as appropriate market data. In calculating value-in-use, management may be assisted by the work of external advisors. The key assumptions used by management in the value-in-use calculations which are considered to be most sensitive to the calculation are: Key Assumptions September 30, 2021 September 30, 2020 Financial projections Covers 5 years for UMA (*) Covers 4 years for UMA (*) Covers 5 years for AVI (**) Covers 7 years for AVI (**) Yield average growth rates 0-1% 0-1% Future pricing increases 1.76% per annum 1.76% per annum Future cost decrease 0.33% per annum 0.33% per annum Discount rates 4% 7% Perpetuity growth rate 1% 1% (*) UMA stands for Usina Monte Alegre LTDA. (**) AVI stands for Adecoagro Vale Do Ivinhema S.A. Discount rates are based on the risk-free rate for U. S. government bonds, adjusted for a risk premium to reflect the increased risk of investing in South America and Brazil in particular. The risk premium adjustment is assessed for factors specific to the respective CGUs and reflects the countries that the CGUs operate in. The following table shows only the 2 CGUs where goodwill was allocated at each period end and the corresponding amount of goodwill allocated to each one: CGU/ Operating segment September 30, 2021 September 30, 2020 AVI / Sugar, Ethanol and Energy 2,919 2,815 UMA / Sugar, Ethanol and Energy 1,095 1,056 Closing net book value of goodwill allocated to CGUs tested (Note 15) 4,014 3,871 Closing net book value of PPE items allocated to CGUs tested 469,434 494,077 Total assets allocated to 2 CGUs tested 473,448 497,948 Based on the testing above, the Group determined that none of the CGUs, with allocated goodwill, were impaired at September 30, 2021 and 2020. Management views these assumptions are conservative and does not believe that any reasonable change in the assumptions would cause the carrying value of these CGU’s to exceed the recoverable amount. The Company's goodwill and property, plant and equipment balances allocated to the cash generating units with allocated goodwill in Argentina and Brazil were U$S 155 million and U$S 468 million, res pectively at December 31, 2021. As of December 31, 2021, the Group determined that there are no indicators of impairment. (b) Biological assets The nature of the Group’s biological assets and the basis of determination of their fair value are explained under Note 33.11. The discounted cash flow model requires the input of highly subjective assumptions including observable and unobservable data. Generally the estimation of the fair value of biological assets is based on models or inputs that are not observable in the market and the use of such unobservable inputs is significant to the overall valuation of the assets. These inputs are determined based on the best information available, for example by reference to historical information of past practices and results, statistical and agronomic information, and other analytical techniques. The discounted cash flow model includes significant assumptions relating to the cash flow projections including future market prices, estimated yields at the point of harvest, estimated production cycle, future costs of harvesting and other costs, and estimated discount rate. Market prices are generally determined by reference to observable data in the principal market for the agricultural produce. Harvesting costs and other costs are estimated based on historical and statistical data. Yields are estimated based on several factors including the location of the farmland and soil type, environmental conditions, infrastructure and other restrictions and growth at the time of measurement. Yields are subject to a high degree of uncertainty and may be affected by several factors out of the Group’s control including but not limited to extreme or unusual weather conditions, plagues and other crop diseases, among other factors. The significant assumptions discussed above are highly sensitive. Reasonable shifts in assumptions including but not limited to increases or decreases in prices, costs and discount factors used would result in a significant increase or decrease to the fair value of biological assets. In addition, cash flows are projected over a number of years and based on estimated production. Estimates of production in themselves are dependent on various assumptions, in addition to those described above, including but not limited to several factors such as location, environmental conditions and other restrictions. Changes in these estimates could materially impact on estimated production, and could therefore affect estimates of future cash flows used in the assessment of fair value (see Note 16). (c) Income taxes The Group is subject to income taxes in numerous jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes. There are many transactions and calculations for which the ultimate tax determination is uncertain. The Group recognizes liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the current and deferred income tax assets and liabilities in the period in which such determination is made. Deferred tax assets are reviewed each reporting date and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of the asset to be settled. Deferred tax assets and liabilities are not discounted. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment (see Note 10). (d) Fair value for farmlands and investment property Property, plant and equipment Farmlands are recognized at fair value based on periodic, but at least annual, valuations prepared by an external independent expert. A revaluation reserve is credited in shareholders’ equity. The valuation is determined using sales Comparison Approach. Sale prices of comparable properties are adjusted considering the specific aspects of each property, the most relevant premise being the price per hectare (Level 3) (see Note 12). Investment property

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2021
Corporate Information and Statement of IFRS Compliance [Abstract]
Summary of significant accounting policies	Significant accounting policies The principal accounting policies applied in the preparation of these Consolidated Financial Statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Financial reporting in a hyperinflation economy IAS 29 “Financial Reporting in Hyperinflationary Economies” requires that the financial statements of entities whose functional currency is that of a hyperinflationary economy to be adjusted for the effects of changes in a suitable general price index and to be expressed in terms of the current unit of measurement at the closing date of the reporting period. Accordingly, the inflation produced from the date of acquisition or from the revaluation date, as applicable, must be computed in the non-monetary items. In order to conclude on whether an economy is categorized as hyperinflationary under the terms of IAS 29, the Standard details a series of factors to be considered, including the existence of a cumulative inflation rate in three years that approximates or exceeds 100 %. Since 2018, when cumulative inflation rate in three years exceeded the 100% threshold, Argentina’s operations are considered to be under hyperinflationary economy for accounting purposesunder the terms of IAS 29 and since then, it has been applied IAS 29 in the financial reporting of its subsidiaries and associates with Argentine peso as functional currency. Financial statements of a foreign entity with a functional currency of a country that has a highly inflationary economy, are restated to reflect changes in the general price level or index in that country before translation into U.S. Dollars. In adjusting for hyperinflation, a general price index is applied to all non-monetary items in the financial statements (including equity) and the resulting gain or loss, which is the gain or loss on the entity's net monetary position, is recognized in the income statement. Monetary items in the closing statement of financial position are not adjusted. The Group treated all Argentine subsidiaries as a hyperinflationary economy as all of them have argentine peso as functional currency. The results and financial position of all foreign entities with a functional currency of a country that has a highly inflationary economy are translated at closing rates after the restatement for changes in the general purchasing power argentine peso. The inflation adjustment on the years 2021, 2020 and 2019 was calculated by means of conversion factor derived from the Argentine price indexes published by the National Institute of Statistics and the year-over-year change in the index was 1.509; 1.361 and 1.538, respectively. The main procedures for the above-mentioned adjustment are as follows: • Monetary assets and liabilities which are carried at amounts current at the balance sheet date are not restated because they are already expressed in terms of the monetary unit current at the balance sheet date. • Non-monetary assets and liabilities which are not carried at amounts current at the balance sheet date, and components of shareholders' equity are adjusted by applying the relevant conversion factors. • All items in the income statement are restated by applying the relevant conversion factors. • The effect of inflation on the Company’s net monetary position is included in the income statement, in "Other financial results" (Note 9). • The ongoing application of the re-translation of comparative amounts to closing exchanges rates under IAS 21 and the hyperinflation adjustments required by IAS 29 will lead to a difference in addition to the difference arising on the application of hyperinflation accounting. The comparative figures in these Consolidated Financial Statements presented in a stable currency are not adjusted for subsequent changes in the price level or exchange rates. This resulted in a difference between the closing equity of the previous year and the opening equity of the current year. The Company recognized this initial difference directly in equity. 33.1 Basis of preparation and presentation The Consolidated Financial Statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB) and the Interpretations of the International Financial Reporting Interpretations Committee (IFRIC). All IFRS issued by the IASB, effective at the time of preparing these Consolidated Financial Statements have been applied. The Consolidated Financial Statements have been prepared under the historical cost convention as modified by financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss, biological assets and agricultural produce at the point of harvest and farmlands measured at fair value. The preparation of Consolidated Financial Statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the Consolidated Financial Statements are disclosed in Note 33. New standards and interpretations not yet adopted Certain new accounting standards and interpretations have been published that are not mandatory for 31 December 2021 reporting periods and have not been early adopted by the group. These standards are not expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions. 33.2 Scope of consolidation The Consolidated Financial Statements include the results of the Company and all of its subsidiaries from the date that control commences to the date that control ceases. They also include the Group’s share of the net income of its jointly-controlled entities on an equity-accounted basis from the point at which joint control commences, to the date that it ceases. (a) Subsidiaries Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date that control commences and deconsolidated from the date that control ceases. The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquiree on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. Inter-company transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. (b) Disposal of subsidiaries When the Group ceases to have control any retained interest in the entity is re-measured to its fair value at the date when control is lost, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amount previously recognized in other comprehensive income in respect of that entity is accounted for as if the Group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss, except for the related revaluation surplus which is reclassified to retained earnings. 33.3 Segment reporting According to IFRS 8, operating segments are identified based on the ‘management approach’. This approach stipulates external segment reporting based on the Group’s internal organizational and management structure and on internal financial reporting to the chief operating decision maker (the Management Committee in the case of the Company) 33.4 Foreign currency translation (a) Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The Consolidated Financial Statements are presented in US dollars, which is the Group’s presentation currency. (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of income, in the line Item “Finance income” or “Finance cost,”as appropriate. (c) Group companies The results and financial position of Group entities (except those that has the currency of a hyper-inflationary economy - Argentine subsidiaries) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of that statement of financial position; • income and expenses for each statement of income are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and • all resulting exchange differences are recognized as a separate component of equity. When a foreign operation is sold, exchange differences that were recorded in equity are recognized in the statement of income as part of the gain or loss on sale. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate. 33.5 Property, plant and equipment Farmlands are initially recorded at fair value and subsequently under the revaluation model based on periodic, but at least annual, valuations prepared by an external independent expert. A revaluation reserve is credited in shareholders’ equity. All other property, plant and equipment is recorded at cost, less accumulated depreciation and impairment losses, if any. Historical cost comprises the purchase price and any costs directly attributable to the acquisition. Under the definition of Property plant and equipment is included the bearer plants, such as sugarcane and coffee trees. Where individual components of an item of property, plant and equipment have different useful lives, they are accounted for as separate items, which are depreciated separately. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance are charged to the statement of income when they are incurred. The depreciation methods and periods used by the group are disclosed in Note 12. 33.5 Property, plant and equipment (continued) Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized within “Other operating income, net” in the consolidated statement of income. 33.6 Investment property Investment property consists of farmland for rental or for capital appreciation and not used in production or for sale in the ordinary course of business, and it is measured at fair value. The changes of the Fair value, which is based on an independent external expert, impacts the profit and loss of the period, in the line item Other operating income, net. 33.7 Leases Leases are recognized as a right-of-use asset and corresponding liability at the date of which the leased asset is available for use by the group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. In determining the lease term, the Company considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). Short term leases are recognized on a straight line basis as an expense in the income statement. Accounting as lessee The Company recognizes a right-of-use asset and a lease liability at the commencement date of each lease contract that grants the right to control the use of an identified asset during a period of time. The commencement date is the date in which the lessor makes an underlying asset available for use by the lessee. The Company applied exemptions for leases with a duration lower than 12 months, with a value lower than thirty thousand dollars and/or with clauses related to variable payments. These leases have been considered as short-term leases and, accordingly, no right-of-use asset or lease liability have been recognized. At initial recognition, the right-of-use asset is measured considering: • The value of the initial measurement of the lease liability; • Any lease payments made at or before the commencement date, less any lease incentives; and • Any initial direct costs incurred by the lessee; and After initial recognition, the right-of-use assets are measured at cost, less any accumulated depreciation and/or impairment losses, and adjusted for any re-measurement of the lease liability. Depreciation of the right-of-use asset is calculated using the straight-line method over the estimated duration of the lease contract. The lease liability is initially measured at the present value of the lease payments that are not paid at such date, including the following concepts: • Variable lease payments that depend on an index or rate, initially measured using the index or rate as of the commencement date; • Amounts expected to be payable by the lessee under residual value guarantees; • The exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and 33.7 Leases (continued) • Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease; • Fixed payments, less any lease incentives receivable; After the commencement date, the Company measures the lease liability by: • Increasing the carrying amount to reflect interest on the lease liability; • Reducing the carrying amount to reflect lease payments made; and • Re-measuring the carrying amount to reflect any reassessment or lease modifications. The above mentioned inputs for the valuation of the right of use assets and lease liabilities including the determination of the contracts within the scope of the standard, the contract term ant interest rate used in the discounted cash flow involved a high degree of management’s estimations. 33.8 Goodwill Goodwill represents future economic benefits arising from assets that are not capable of being individually identified and separately recognized by the Group on an acquisition. Goodwill on acquisition is initially measured at cost. being the excess of the consideration over the fair value of the Group’s share of net assets of the acquired subsidiary undertaking at the acquisition date. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. It is allocated to those cash generating units expected to benefit from the acquisition for the purpose of impairment testing. Goodwill ais included within “Intangible assets” on the statement of financial position. Goodwill arising on the acquisition of foreign entities is treated as an asset of the foreign entity denominated in the local currency and translated at the closing rate. Goodwill is not amortized but tested for impairment on an annual basis, or more frequently if there is an indication of impairment (see Note 33 (a)). Gains and losses on the disposal of a Group entity include any goodwill relating to the entity sold (see Note 33.10). 33.9 Other intangible assets Other intangible assets that are acquired by the Group, which have finite useful lives, are measured at cost less accumulated amortization and impairment losses, if any. These intangible assets comprise mainly trademarks and computer software and are amortized in the statement of income on a straight-line basis over their estimated useful lives estimated to be 10 to 20 years and 3 to 5 years, respectively. 33.10 Impairment of assets Goodwill The Company conducts an impairment test annually or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the carrying amount exceeds its recoverable amount. For the purpose of impairment testing, assets are grouped at the lowest levels for which there are separately identifiable cash flows, known as cash-generating units. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the cash generating unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset may in the unit. Impairment losses recognized for goodwill cannot be reversed in a subsequent period. Recoverable amount is the higher of the fair value less costs to sell and value in use. In determining the value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted (see Note 33 (a) for details). Property, plant and equipment and finite lived intangible assets At each statement of financial position date, the Group reviews the carrying amounts of its property, plant and equipment and other intangible assets which have finite lives to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent, if any, of the impairment loss. Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. If the recoverable amount of an asset or cash-generating unit is estimated to be less than its carrying amount, that carrying amount is reduced to its recoverable amount. An impairment loss is recognized immediately in the statement of income. Where an impairment loss subsequently reverses, the carrying amount of the asset or cash-generating unit is increased to the revised estimate of its recoverable amount, not to exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset or cash-generating unit in prior years. A reversal of an impairment loss is recognized immediately in the statement of income. 33.11 Biological assets Biological assets comprise growing crops (mainly corn, wheat, soybeans, sunflower peanuts and rice), sugarcane, coffee and livestock (growing herd and cattle for dairy production). The Group distinguishes between consumable and bearer biological assets, and between mature and immature biological assets. “Consumable” biological assets are those assets that may be harvested as agriculture produce or sold as biological assets, for example livestock intended for dairy production. “Bearer” biological assets are those assets capable of producing more than one harvest, for example sugarcane or livestock from which raw milk is produced. “Mature” biological assets are those that have attained harvestable specifications (for consumable biological assets) or are able to sustain regular harvests (for bearer biological assets). “Immature” biological assets are those assets other than mature biological assets. Costs are capitalized as biological assets if, and only if, (a) it is probable that future economic benefits will flow to the entity, and (b) the cost can be measured reliably. The Group capitalizes costs such as: planting, harvesting, weeding, seedlings, irrigation, agrochemicals, fertilizers and a systematic allocation of fixed and variable production overheads that are directly attributable to the management of biological assets, among others. Costs that are expensed as incurred include administration and other general overhead and unallocated production overhead, among others. Biological assets, both at initial recognition and at each subsequent reporting date, are measured at fair value less costs to sell, except where fair value cannot be reliably measured. Cost approximates fair value when little biological transformation has taken place since the costs were originally incurred or the impact of biological transformation on price is not expected to be material. Gains and losses that arise on measuring biological assets at fair value less costs to sell and measuring agricultural produce at the point of harvest at fair value less costs to sell are recognized in the statement of income in the period in which they arise in the line item “Initial recognition and changes in fair value of biological assets and agricultural produce”. Where there is an active market for a biological asset or agricultural produce, quoted market prices in the most relevant market are used as a basis to determine the fair value. Otherwise, when there is no active market or market-determined prices are not available, fair value of biological assets is determined through the use of valuation techniques. Therefore, the fair value of biological assets is generally derived from the expected discounted cash flows of the related agricultural produce. The fair value of the agricultural produce at the point of harvest is generally derived from market determined prices. A general description of the determination of fair values based on the Company’s business segments follow: • Growing crops including rice: Growing crops, for which biological growth is not significant, are measured at cost, which approximates fair value. Expenditure on growing crops includes land preparation expenses and other direct expenses incurred during the sowing period including labor, seedlings, agrochemicals and fertilizers among others. Otherwise, biological assets are measured at fair value less estimated point-of-sale costs at initial recognition and at any subsequent period. Point-of-sale costs include all costs that would be necessary to sell the assets The fair value of growing crops including rice is measured based on a formula, which takes into consideration the estimate of crop yields, estimated market prices and costs, and discount rates. Estimated yields are determined based on several factors including location of farmland, environmental conditions and other restrictions and growth at the time of measurement. Yields are multiplied by sown hectares to determine the estimated tons of crops including rice to be obtained. The tons are then multiplied by a net cash flow determined at the future crop prices less the direct costs to be incurred. This amount is discounted at a discount rate, which reflects current market assessments of the assets involved and the time value of money. • Growing herd and cattle: Livestock are measured at fair value less estimated point-of-sale costs, with any changes therein recognized in the statement of income, on initial recognition as well as subsequently at each reporting period. The fair value of livestock is determined based on the actual selling prices less estimated point-of-sale costs in the markets where the Group operates. • Sugarcane: Sugarcane planting costs form part of Property plant and equipment. The agricultural produce growing on sugarcane is classified as biological assets and are measured at fair value less cost to sell. The fair value of agricultural produce growing on sugarcane depends on the variety, location and maturity of the plantation. Agricultural produce growing in the Sugarcane, for which biological growth is not significant, is valued at cost, which approximates fair value. Expenditure on the agricultural produce growing in the sugarcane consists mainly of labor, agrochemicals and fertilizers among others. When it has attained significant biological growth, it is measured at fair value through a discounted cash flow model. Estimated revenues are based on estimated yearly production volume (which will be destined to sugar, ethanol, energy and raw cane production) and the price is calculated as the average of daily prices for sugar future contracts (Sugar #11 ICE-NY contracts) for a six months period. Projected costs include maintenance and land leasing among others. These estimates are discounted at an appropriate discount rate. 33.12 Inventories Inventories comprise of raw materials, finished goods (including harvested agricultural produce and manufactured goods) and others. Harvested agricultural produce (except for rice and milk) are measured at net realizable value until the point of sale because there is an active market in the produce, there is a negligible risk that the produce will not be sold and there is a well-established practice in the industry carrying the inventories at net realizable value. Changes in net realizable value are recognized in the statement of income in the period in which they arise under the line item “Changes in net realizable value of agricultural produce after harvest”. All other inventories (including rice and milk) are measured at the lower of cost and net realizable value. Cost is determined using the weighted average method. 33.13 Financial assets Financial assets are classified in the following categories: at fair value through profit or loss and at amortized cost, namely loans and receivables. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition (see Note 17). (a) Recognition and measurement Regular purchases and sales of financial assets are recognized on the trade-date – the date on which the Group commits to purchase or sell the asset. Financial assets not carried at fair value through profit or loss are initially recognized at fair value plus transaction costs. Financial assets carried at fair value through profit or loss are initially recognized at fair value and transaction costs are expensed in the statement of income. Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred and the Group has transferred substantially all risks and rewards of ownership. Financial assets at fair value through profit or loss are subsequently carried at fair value. Loans and receivables are subsequently carried at amortized cost using the effective interest method. Gains or losses arising from changes in the fair value of the “financial assets at fair value through profit or loss” category are presented in the statement of income within “Other operating income, net” in the period in which they arise. If the market for a financial asset is not active (and for unlisted securities), the Group establishes fair value by using valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analysis, and option pricing models, making maximum use of market inputs and relying as little as possible on entity-specific inputs. The Group assesses at each statement of financial position date whether there is objective evidence that a financial asset or a group of financial assets is impaired. Impairment testing of trade receivables is described in Note 33.15. (b) Offsetting financial instruments Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously. This right must not be contingent on future events and must be enforceable in any case. 33.14 Derivative financial instruments and hedging activities Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. Commodity future contract fair values are computed with reference to quoted market prices on future exchanges markets. The fair values of commodity options are calculated using year-end market rates together with common option pricing models. The fair value of interest rate swaps has been calculated using a discounted cash flow analysis. The Group manages exposures to financial and commodity risks using hedging instruments that provide the appropriate economic outcome. The principal hedging instruments used may include commodity future contracts, put and call options, foreign exchange forward contracts and interest rate swaps. The Group does not use derivative financial instruments for speculative purposes. The Group’s policy is to apply hedge accounting to hedging relationships where it is both permissible under IFRS 9, practical to do so and its application reduces volatility, but transactions that may be effective hedges in economic terms may not always qualify for hedge accounting under IFRS 9. Any derivatives that the Group holds to hedge these exposures are classified as “held for trading” and are shown in a separate line on the face of the statement of financial position. The method of recognizing gains or losses on derivatives depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. Gains and losses on commodity derivatives are classified within “Other operating income, net”. Gains and losses on interest rate and foreign exchange rate derivatives are classified within ‘Financial results, net’. The Group designates certain derivatives as hedges of the foreign currency risk associated with highly probable forecast transactions (cash flow hedge). The Group documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedging transactions. The Group also documents its assessment, both at hedge inception and on an ongoing basis, of whether the instruments that are used in hedging transactions are highly effective in offsetting changes in fair value or cash flows of hedged items. Cash flow hedge The effective portion of the gain or loss on the instruments that are designated and qualify as cash flow hedges is recognized in other comprehensi

Information related to COVID-19

Information related to COVID-19 pandemic	12 Months Ended
	Dec. 31, 2021
Disclosure of events after reporting period [Abstract]
Information related to COVID-19 pandemic	Information related to COVID-19 pandemic In December 2019, a novel strain of coronavirus (“COVID-19”) was reported to have surfaced in China and started spreading to the rest of the world in early 2020. The COVID-19 virus has impacted economic activity worldwide and has posed the risk that Adecoagro or its employees, contractors, suppliers, customers and other business partners may be prevented from conducting certain business activities for an indefinite period of time, including due to shutdowns mandated by governmental authorities or otherwise adopted by companies as a preventive measure. Both in Argentine and Brazil, governments adopted social distancing measures, and shutdowns, that affected economic activities. In our case, activities pursued by our Argentine subsidiaries, related to agricultural production, distribution and commercialization, were exempted from the Mandatory Isolation Regime for being considered “essential” activities. Also our activities in Brazil have no restrictions. Thus, the activity of the Company has not suffered any severe effect. As of the date of this report, impulsed by the vaccination path, almost all restrictions were lifted. The Company is closely monitoring the situation and taking all necessary measures at its disposal to preserve human life and its operation. The Company has enacted prevention and action protocols tailored for each facility and activity, in addition to constituting crises committees to monitor the Company’s response to the pandemic. Measures taken include but are not limited to: (i) body temperature controls at entrances of each facility and other critical check points, (ii) mandatory distancing in the workplace, (iii) maximum limit of people in the conferences rooms, lunch room and vehicles (iv) sanitary barriers, (v) special protective attire and masks, (vi) mandatory quarantines for those who have been in contact with travelers or with symptomatic persons, (vii) training programs and information about how to prevent the risks of transmission of COVID-19, (viii) hired an infectious disease specialist to further assess on site. Additionally, remote work has been guaranteed for the duration of the pandemic for employees based in central offices, and a rotation scheme has been implemented for administrative employees based in the farms or industrial facilities.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2021
Corporate Information and Statement of IFRS Compliance [Abstract]
Financial reporting in a hyperinflation economy	Financial reporting in a hyperinflation economy IAS 29 “Financial Reporting in Hyperinflationary Economies” requires that the financial statements of entities whose functional currency is that of a hyperinflationary economy to be adjusted for the effects of changes in a suitable general price index and to be expressed in terms of the current unit of measurement at the closing date of the reporting period. Accordingly, the inflation produced from the date of acquisition or from the revaluation date, as applicable, must be computed in the non-monetary items. In order to conclude on whether an economy is categorized as hyperinflationary under the terms of IAS 29, the Standard details a series of factors to be considered, including the existence of a cumulative inflation rate in three years that approximates or exceeds 100 %. Since 2018, when cumulative inflation rate in three years exceeded the 100% threshold, Argentina’s operations are considered to be under hyperinflationary economy for accounting purposesunder the terms of IAS 29 and since then, it has been applied IAS 29 in the financial reporting of its subsidiaries and associates with Argentine peso as functional currency. Financial statements of a foreign entity with a functional currency of a country that has a highly inflationary economy, are restated to reflect changes in the general price level or index in that country before translation into U.S. Dollars. In adjusting for hyperinflation, a general price index is applied to all non-monetary items in the financial statements (including equity) and the resulting gain or loss, which is the gain or loss on the entity's net monetary position, is recognized in the income statement. Monetary items in the closing statement of financial position are not adjusted. The Group treated all Argentine subsidiaries as a hyperinflationary economy as all of them have argentine peso as functional currency. The results and financial position of all foreign entities with a functional currency of a country that has a highly inflationary economy are translated at closing rates after the restatement for changes in the general purchasing power argentine peso. The inflation adjustment on the years 2021, 2020 and 2019 was calculated by means of conversion factor derived from the Argentine price indexes published by the National Institute of Statistics and the year-over-year change in the index was 1.509; 1.361 and 1.538, respectively. The main procedures for the above-mentioned adjustment are as follows: • Monetary assets and liabilities which are carried at amounts current at the balance sheet date are not restated because they are already expressed in terms of the monetary unit current at the balance sheet date. • Non-monetary assets and liabilities which are not carried at amounts current at the balance sheet date, and components of shareholders' equity are adjusted by applying the relevant conversion factors. • All items in the income statement are restated by applying the relevant conversion factors. • The effect of inflation on the Company’s net monetary position is included in the income statement, in "Other financial results" (Note 9). • The ongoing application of the re-translation of comparative amounts to closing exchanges rates under IAS 21 and the hyperinflation adjustments required by IAS 29 will lead to a difference in addition to the difference arising on the application of hyperinflation accounting. The comparative figures in these Consolidated Financial Statements presented in a stable currency are not adjusted for subsequent changes in the price level or exchange rates. This resulted in a difference between the closing equity of the previous year and the opening equity of the current year. The Company recognized this initial difference directly in equity.
Basis of preparation and presentation	Basis of preparation and presentation The Consolidated Financial Statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB) and the Interpretations of the International Financial Reporting Interpretations Committee (IFRIC). All IFRS issued by the IASB, effective at the time of preparing these Consolidated Financial Statements have been applied. The Consolidated Financial Statements have been prepared under the historical cost convention as modified by financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss, biological assets and agricultural produce at the point of harvest and farmlands measured at fair value. The preparation of Consolidated Financial Statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the Consolidated Financial Statements are disclosed in Note 33. New standards and interpretations not yet adopted Certain new accounting standards and interpretations have been published that are not mandatory for 31 December 2021 reporting periods and have not been early adopted by the group. These standards are not expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions.
Scope of consolidation	Scope of consolidation The Consolidated Financial Statements include the results of the Company and all of its subsidiaries from the date that control commences to the date that control ceases. They also include the Group’s share of the net income of its jointly-controlled entities on an equity-accounted basis from the point at which joint control commences, to the date that it ceases. (a) Subsidiaries Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date that control commences and deconsolidated from the date that control ceases. The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquiree on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. Inter-company transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. (b) Disposal of subsidiaries When the Group ceases to have control any retained interest in the entity is re-measured to its fair value at the date when control is lost, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amount previously recognized in other comprehensive income in respect of that entity is accounted for as if the Group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss, except for the related revaluation surplus which is reclassified to retained earnings.
Segment reporting	Segment reporting According to IFRS 8, operating segments are identified based on the ‘management approach’. This approach stipulates external segment reporting based on the Group’s internal organizational and management structure and on internal financial reporting to the chief operating decision maker (the Management Committee in the case of the Company)
Foreign currency translation	Foreign currency translation (a) Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The Consolidated Financial Statements are presented in US dollars, which is the Group’s presentation currency. (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of income, in the line Item “Finance income” or “Finance cost,”as appropriate. (c) Group companies The results and financial position of Group entities (except those that has the currency of a hyper-inflationary economy - Argentine subsidiaries) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of that statement of financial position; • income and expenses for each statement of income are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and • all resulting exchange differences are recognized as a separate component of equity. When a foreign operation is sold, exchange differences that were recorded in equity are recognized in the statement of income as part of the gain or loss on sale. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate.
Property, plant and equipment	Property, plant and equipment Farmlands are initially recorded at fair value and subsequently under the revaluation model based on periodic, but at least annual, valuations prepared by an external independent expert. A revaluation reserve is credited in shareholders’ equity. All other property, plant and equipment is recorded at cost, less accumulated depreciation and impairment losses, if any. Historical cost comprises the purchase price and any costs directly attributable to the acquisition. Under the definition of Property plant and equipment is included the bearer plants, such as sugarcane and coffee trees. Where individual components of an item of property, plant and equipment have different useful lives, they are accounted for as separate items, which are depreciated separately. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance are charged to the statement of income when they are incurred.
Investment property	Investment property Investment property consists of farmland for rental or for capital appreciation and not used in production or for sale in the ordinary course of business, and it is measured at fair value. The changes of the Fair value, which is based on an independent external expert, impacts the profit and loss of the period, in the line item Other operating income, net.
Leases	Leases Leases are recognized as a right-of-use asset and corresponding liability at the date of which the leased asset is available for use by the group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. In determining the lease term, the Company considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). Short term leases are recognized on a straight line basis as an expense in the income statement. Accounting as lessee The Company recognizes a right-of-use asset and a lease liability at the commencement date of each lease contract that grants the right to control the use of an identified asset during a period of time. The commencement date is the date in which the lessor makes an underlying asset available for use by the lessee. The Company applied exemptions for leases with a duration lower than 12 months, with a value lower than thirty thousand dollars and/or with clauses related to variable payments. These leases have been considered as short-term leases and, accordingly, no right-of-use asset or lease liability have been recognized. At initial recognition, the right-of-use asset is measured considering: • The value of the initial measurement of the lease liability; • Any lease payments made at or before the commencement date, less any lease incentives; and • Any initial direct costs incurred by the lessee; and After initial recognition, the right-of-use assets are measured at cost, less any accumulated depreciation and/or impairment losses, and adjusted for any re-measurement of the lease liability. Depreciation of the right-of-use asset is calculated using the straight-line method over the estimated duration of the lease contract. The lease liability is initially measured at the present value of the lease payments that are not paid at such date, including the following concepts: • Variable lease payments that depend on an index or rate, initially measured using the index or rate as of the commencement date; • Amounts expected to be payable by the lessee under residual value guarantees; • The exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and 33.7 Leases (continued) • Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease; • Fixed payments, less any lease incentives receivable; After the commencement date, the Company measures the lease liability by: • Increasing the carrying amount to reflect interest on the lease liability; • Reducing the carrying amount to reflect lease payments made; and • Re-measuring the carrying amount to reflect any reassessment or lease modifications. The above mentioned inputs for the valuation of the right of use assets and lease liabilities including the determination of the contracts within the scope of the standard, the contract term ant interest rate used in the discounted cash flow involved a high degree of management’s estimations.
Goodwill	Goodwill Goodwill represents future economic benefits arising from assets that are not capable of being individually identified and separately recognized by the Group on an acquisition. Goodwill on acquisition is initially measured at cost. being the excess of the consideration over the fair value of the Group’s share of net assets of the acquired subsidiary undertaking at the acquisition date. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. It is allocated to those cash generating units expected to benefit from the acquisition for the purpose of impairment testing. Goodwill ais included within “Intangible assets” on the statement of financial position. Goodwill arising on the acquisition of foreign entities is treated as an asset of the foreign entity denominated in the local currency and translated at the closing rate.
Other intangible assets	Other intangible assets Other intangible assets that are acquired by the Group, which have finite useful lives, are measured at cost less accumulated amortization and impairment losses, if any. These intangible assets comprise mainly trademarks and computer software and are amortized in the statement of income on a straight-line basis over their estimated useful lives estimated to be 10 to 20 years and 3 to 5 years, respectively.
Impairment of assets	Impairment of assets Goodwill The Company conducts an impairment test annually or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the carrying amount exceeds its recoverable amount. For the purpose of impairment testing, assets are grouped at the lowest levels for which there are separately identifiable cash flows, known as cash-generating units. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the cash generating unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset may in the unit. Impairment losses recognized for goodwill cannot be reversed in a subsequent period. Recoverable amount is the higher of the fair value less costs to sell and value in use. In determining the value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted (see Note 33 (a) for details). Property, plant and equipment and finite lived intangible assets At each statement of financial position date, the Group reviews the carrying amounts of its property, plant and equipment and other intangible assets which have finite lives to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent, if any, of the impairment loss. Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. If the recoverable amount of an asset or cash-generating unit is estimated to be less than its carrying amount, that carrying amount is reduced to its recoverable amount. An impairment loss is recognized immediately in the statement of income. Where an impairment loss subsequently reverses, the carrying amount of the asset or cash-generating unit is increased to the revised estimate of its recoverable amount, not to exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset or cash-generating unit in prior years. A reversal of an impairment loss is recognized immediately in the statement of income.
Biological assets	Biological assets Biological assets comprise growing crops (mainly corn, wheat, soybeans, sunflower peanuts and rice), sugarcane, coffee and livestock (growing herd and cattle for dairy production). The Group distinguishes between consumable and bearer biological assets, and between mature and immature biological assets. “Consumable” biological assets are those assets that may be harvested as agriculture produce or sold as biological assets, for example livestock intended for dairy production. “Bearer” biological assets are those assets capable of producing more than one harvest, for example sugarcane or livestock from which raw milk is produced. “Mature” biological assets are those that have attained harvestable specifications (for consumable biological assets) or are able to sustain regular harvests (for bearer biological assets). “Immature” biological assets are those assets other than mature biological assets. Costs are capitalized as biological assets if, and only if, (a) it is probable that future economic benefits will flow to the entity, and (b) the cost can be measured reliably. The Group capitalizes costs such as: planting, harvesting, weeding, seedlings, irrigation, agrochemicals, fertilizers and a systematic allocation of fixed and variable production overheads that are directly attributable to the management of biological assets, among others. Costs that are expensed as incurred include administration and other general overhead and unallocated production overhead, among others. Biological assets, both at initial recognition and at each subsequent reporting date, are measured at fair value less costs to sell, except where fair value cannot be reliably measured. Cost approximates fair value when little biological transformation has taken place since the costs were originally incurred or the impact of biological transformation on price is not expected to be material. Gains and losses that arise on measuring biological assets at fair value less costs to sell and measuring agricultural produce at the point of harvest at fair value less costs to sell are recognized in the statement of income in the period in which they arise in the line item “Initial recognition and changes in fair value of biological assets and agricultural produce”. Where there is an active market for a biological asset or agricultural produce, quoted market prices in the most relevant market are used as a basis to determine the fair value. Otherwise, when there is no active market or market-determined prices are not available, fair value of biological assets is determined through the use of valuation techniques. Therefore, the fair value of biological assets is generally derived from the expected discounted cash flows of the related agricultural produce. The fair value of the agricultural produce at the point of harvest is generally derived from market determined prices. A general description of the determination of fair values based on the Company’s business segments follow: • Growing crops including rice: Growing crops, for which biological growth is not significant, are measured at cost, which approximates fair value. Expenditure on growing crops includes land preparation expenses and other direct expenses incurred during the sowing period including labor, seedlings, agrochemicals and fertilizers among others. Otherwise, biological assets are measured at fair value less estimated point-of-sale costs at initial recognition and at any subsequent period. Point-of-sale costs include all costs that would be necessary to sell the assets The fair value of growing crops including rice is measured based on a formula, which takes into consideration the estimate of crop yields, estimated market prices and costs, and discount rates. Estimated yields are determined based on several factors including location of farmland, environmental conditions and other restrictions and growth at the time of measurement. Yields are multiplied by sown hectares to determine the estimated tons of crops including rice to be obtained. The tons are then multiplied by a net cash flow determined at the future crop prices less the direct costs to be incurred. This amount is discounted at a discount rate, which reflects current market assessments of the assets involved and the time value of money. • Growing herd and cattle: Livestock are measured at fair value less estimated point-of-sale costs, with any changes therein recognized in the statement of income, on initial recognition as well as subsequently at each reporting period. The fair value of livestock is determined based on the actual selling prices less estimated point-of-sale costs in the markets where the Group operates. • Sugarcane: Sugarcane planting costs form part of Property plant and equipment. The agricultural produce growing on sugarcane is classified as biological assets and are measured at fair value less cost to sell. The fair value of agricultural produce growing on sugarcane depends on the variety, location and maturity of the plantation. Agricultural produce growing in the Sugarcane, for which biological growth is not significant, is valued at cost, which approximates fair value. Expenditure on the agricultural produce growing in the sugarcane consists mainly of labor, agrochemicals and fertilizers among others. When it has attained significant biological growth, it is measured at fair value through a discounted cash flow model. Estimated revenues are based on estimated yearly production volume (which will be destined to sugar, ethanol, energy and raw cane production) and the price is calculated as the average of daily prices for sugar future contracts (Sugar #11 ICE-NY contracts) for a six months period. Projected costs include maintenance and land leasing among others. These estimates are discounted at an appropriate discount rate.
Inventories	Inventories Inventories comprise of raw materials, finished goods (including harvested agricultural produce and manufactured goods) and others. Harvested agricultural produce (except for rice and milk) are measured at net realizable value until the point of sale because there is an active market in the produce, there is a negligible risk that the produce will not be sold and there is a well-established practice in the industry carrying the inventories at net realizable value. Changes in net realizable value are recognized in the statement of income in the period in which they arise under the line item “Changes in net realizable value of agricultural produce after harvest”. All other inventories (including rice and milk) are measured at the lower of cost and net realizable value. Cost is determined using the weighted average method.
Financial assets	Financial assets Financial assets are classified in the following categories: at fair value through profit or loss and at amortized cost, namely loans and receivables. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition (see Note 17). (a) Recognition and measurement Regular purchases and sales of financial assets are recognized on the trade-date – the date on which the Group commits to purchase or sell the asset. Financial assets not carried at fair value through profit or loss are initially recognized at fair value plus transaction costs. Financial assets carried at fair value through profit or loss are initially recognized at fair value and transaction costs are expensed in the statement of income. Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred and the Group has transferred substantially all risks and rewards of ownership. Financial assets at fair value through profit or loss are subsequently carried at fair value. Loans and receivables are subsequently carried at amortized cost using the effective interest method. Gains or losses arising from changes in the fair value of the “financial assets at fair value through profit or loss” category are presented in the statement of income within “Other operating income, net” in the period in which they arise. If the market for a financial asset is not active (and for unlisted securities), the Group establishes fair value by using valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analysis, and option pricing models, making maximum use of market inputs and relying as little as possible on entity-specific inputs. The Group assesses at each statement of financial position date whether there is objective evidence that a financial asset or a group of financial assets is impaired. Impairment testing of trade receivables is described in Note 33.15. (b) Offsetting financial instruments Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously. This right must not be contingent on future events and must be enforceable in any case.
Derivative financial instruments and hedging activities	Derivative financial instruments and hedging activities Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. Commodity future contract fair values are computed with reference to quoted market prices on future exchanges markets. The fair values of commodity options are calculated using year-end market rates together with common option pricing models. The fair value of interest rate swaps has been calculated using a discounted cash flow analysis. The Group manages exposures to financial and commodity risks using hedging instruments that provide the appropriate economic outcome. The principal hedging instruments used may include commodity future contracts, put and call options, foreign exchange forward contracts and interest rate swaps. The Group does not use derivative financial instruments for speculative purposes. The Group’s policy is to apply hedge accounting to hedging relationships where it is both permissible under IFRS 9, practical to do so and its application reduces volatility, but transactions that may be effective hedges in economic terms may not always qualify for hedge accounting under IFRS 9. Any derivatives that the Group holds to hedge these exposures are classified as “held for trading” and are shown in a separate line on the face of the statement of financial position. The method of recognizing gains or losses on derivatives depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. Gains and losses on commodity derivatives are classified within “Other operating income, net”. Gains and losses on interest rate and foreign exchange rate derivatives are classified within ‘Financial results, net’. The Group designates certain derivatives as hedges of the foreign currency risk associated with highly probable forecast transactions (cash flow hedge). The Group documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedging transactions. The Group also documents its assessment, both at hedge inception and on an ongoing basis, of whether the instruments that are used in hedging transactions are highly effective in offsetting changes in fair value or cash flows of hedged items. Cash flow hedge The effective portion of the gain or loss on the instruments that are designated and qualify as cash flow hedges is recognized in other comprehensive income. The gain or loss relating to the ineffective portion is recognized immediately in the statement of income within "Finance income” or “Finance cost,”as appropriate. Amounts accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss. The gain or loss relating to the effective portion is recognized in the statement of income within "Finance income” or “Finance cost”, as appropriate. When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss existing in equity at that time remains in equity and is recognized when the forecast transaction is ultimately recognized in the statement of income. When a forecast transaction is no longer expected to occur, the cumulative gain or loss that was reported in equity is immediately transferred to the statement of income.
Trade and other receivables and trade and other payables	Trade and other receivables and trade and other payables Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method. In the case of receivables, less allowance for trade receivables.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less. In the statements of cash flows, interest paid is presented within financing cash flows and interest received is presented within investing activities.
Borrowings	Borrowings Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost using the effective interest method. Borrowing costs are capitalized during the period of time that is required to complete and prepare the asset for its intended use.
Provisions	Provisions Provisions are recognized when (i) the Group has a present legal or constructive obligation as a result of past events; (ii) it is probable that an outflow of resources will be required to settle the obligation; and (iii) a reliable estimate of the amount of the obligation can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation.
Onerous contracts	Onerous contractsThe Group enters into contracts, which require the Group to sell commodities in accordance with the Group's expected sales. These contracts do not qualify as derivatives. These contracts are not recognized until at least one of the parties has performed under the agreement. However, when the contracts are onerous, the Group recognizes the present obligation under the contracts as a provision included within “Provision and other liabilities” in the statement of financial position. Losses under these onerous contracts are recognized within “Other operating income, net” in the statement of income.
Current and deferred income tax	Current and deferred income tax The Group’s tax benefit or expense for each year comprises the charge for current tax payable and deferred taxation attributable to the Group’s operating subsidiaries. Tax is recognized in the statement of income, except to the extent that it relates to items recognized directly in equity. In this case, the tax is also recognized in equity. The current income tax charge is calculated on the basis of the tax laws enacted at the date of the statement of financial position in the countries where the Group’s subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Group measures its tax balances either based on the most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. Deferred income tax is recognized, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the Consolidated Financial Statements. However, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) effective in the countries where the Group’s subsidiaries operate and generate taxable income. Deferred income tax assets are recognized only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred income tax is provided on temporary differences arising on investments in subsidiaries, except where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. The Group is able to control the timing of dividends from its subsidiaries and hence does not expect to remit overseas earnings in the foreseeable future in a way that would result in a charge to taxable profit. Hence deferred tax is recognized in respect of the retained earnings of overseas subsidiaries only to the extent that, at the date of the statement of financial position, dividends have been accrued as receivable or a binding agreement to distribute past earnings in future has been entered into by the subsidiary.
Revenue Recognition	Revenue Recognition The Group’s primary activities comprise agricultural and agro-industrial activities. The Group’s agricultural activities comprise growing and selling agricultural produce. In accordance with IAS 41 “Agriculture”, cattle are measured at fair value with changes therein recognized in the statement of income as they arise. Agricultural produce is measured at net realizable value with changes therein recognized in the statement of income as they arise. Therefore, sales of agricultural produce and cattle generally do not generate any separate gains or losses in the statement of income. The Group’s agro-industrial activities comprise the selling of manufactured products (i.e. industrialized rice, milk-related products, ethanol, sugar, energy, among others). These sales are measured at the fair value of the consideration received or receivable, net of returns and allowances, trade and other discounts, and sales taxes, as applicable. Revenue is recognized when the full control have been transferred to the buyer, recovery of the consideration is probable, the associated costs and possible return of goods can be estimated reliably, and there is no continuing management involvement with the goods. Transfers of control vary depending on the individual terms of the contract of sale. Revenues are recognised when control of the products has transferred, being when the products are delivered to the customer, having this full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the customer’s acceptance of the products. The Group also provides certain agricultural-related services such as grain warehousing/conditioning and other services, e.g. handling and drying services. Revenue from services is recognized as services are provided. The Group leases owned farmland property to third parties under operating lease agreements. Rental income is recognized on a straight-line basis over the period of the lease. The Group is a party to a 25-year power agreement for the sale of electricity which expires in 2042. The delivery period starts in April and ends in November of each year. The Group is also a party to two 15-year power agreements which delivery period starts in March and ends in December of each year, these two agreements will expire in 2024 and 2025, respectively. Prices under all the agreements are adjusted annually for inflation. Revenue related to the sale of electricity under these two agreements is recorded based upon output delivered.
Farmlands sales	Farmlands sales The Group’s strategy is to profit from land appreciation value generated through the transformation of its productive capabilities. Therefore, the Group may seek to realize value from the sale of farmland assets and businesses. Farmland sales are not recognized until (i) the sale is completed, (ii) the Group has determined that it is probable the buyer will pay, (iii) the amount of revenue can be measured reliably, and (iv) the Group has transferred to the buyer the risk of ownership, and does not have a continuing involvement. Gains from “farmland sales” are included in the statement of income under the line item “Other operating income, net”.
Assets held for sale and discontinued operations	Assets held for sale and discontinued operations When the Group intends to dispose of, or classify as held for sale, a business component that represents a separate major line of business or geographical area of operations, or a subsidiary acquired exclusively with a view to resale, it classifies such operations as discontinued. The post tax profit or loss of the discontinued operations is shown as a single amount on the face of the statement of income, separate from the other results of the Group. Assets and liabilities classified as held for sale are measured at the lower of carrying value and fair value less costs to sell. Non-current assets and disposal groups are classified as held for sale if their carrying amount will be recovered through a disposal rather than through continuing use. This condition is regarded as met only when management is committed to the sale (disposal), the sale (disposal) is highly probable and expected to be completed within one year from classification and the asset is available for immediate sale (disposal) in its present condition. The statements of income for the comparative periods are represented to show the discontinued operations separate from the continuing operations.
Earnings per share	Earnings per share Basic earnings per share is calculated by dividing the net income for the year attributable to equity holders of the parent by the weighted average number of ordinary shares outstanding during the year. Diluted net earnings per share is computed by dividing the net income for the period by the weighted average number of ordinary shares outstanding, and when dilutive, adjusted for the effect of all potentially dilutive shares, including share options, on an as-if converted basis.
Equity-settled share-based payments	Equity-settled share-based payments The Group issues equity settled share-based payments to certain directors, senior management and employees. Options under the awards were measured at fair value at the date of grant. An expense is recognized to spread the fair value of each award over the vesting period on a straight-line basis, after allowing for an estimate of the awards that will eventually vest. The estimate of the level of vesting is reviewed at least annually, with any impact on the cumulative charge being recognized immediately.
Research and development	Research and development Research phase expenditure is expensed as incurred. Development expenditure is capitalized as an internally generated intangible asset only if it meets strict criteria, relating in particular to technical feasibility and generation of future economic benefits. Research expenses have been immaterial to date. The Group has not capitalized any development expenses to date.

Financial risk management (Tabl

Financial risk management (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Schedule of Nature and Extent of Risks Arising from Financial Instruments	The following tables show the net monetary position of the respective subsidiaries within the Group categorized by functional currency. Non-U.S. Dollar amounts are presented in U.S. Dollars for purpose of these tables. 2021 Subsidiaries’ functional currency Net monetary position Argentine Brazilian Uruguayan U.S. Dollar Total Argentine Peso (33,002) — — — (33,002) Brazilian Reais — (396,288) — — (396,288) U.S. Dollar (267,448) (270,213) 21,773 30,490 (485,398) Uruguayan Peso — — (1,837) — (1,837) Total (300,450) (666,501) 19,936 30,490 (916,525) 2020 Subsidiaries’ functional currency Net monetary position Argentine Brazilian Uruguayan U.S. Dollar Total Argentine Peso (115,097) — — (288) (115,385) Brazilian Reais — (298,039) — — (298,039) U.S. Dollar (193,353) (307,611) 20,720 47,122 (433,122) Uruguayan Peso — — (655) — (655) Total (308,450) (605,650) 20,065 46,834 (847,201) Functional currency Net monetary position Argentine Brazilian Uruguayan Total 2021 U.S. Dollar (26,745) (27,021) 2,177 (51,589) 2020 U.S. Dollar (19,335) (30,761) 2,072 (48,024)
Schedule of Maturity Analysis for Derivative and Non-Derivative Financial Liabilities	The tables below analyzes the Group’s non-derivative financial liabilities and derivative financial liabilities into relevant maturity groupings based on the remaining period at the statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows and as a result they do not reconcile to the amounts disclosed on the statement of financial position except for short-term payables where discounting is not applied. At December 31, 2021 Less than Between Between 2 Over Total Trade and other payables 153,175 15 22 247 153,459 Borrowings 153,311 57,849 245,538 577,178 1,033,876 Leases Liabilities 53,384 53,172 122,625 123,180 352,361 Derivative financial instruments 1,283 — — — 1,283 Total 361,153 111,036 368,185 700,605 1,540,979 At December 31, 2020 Less than Between Between 2 Over Total Trade and other payables 114,523 15 22 253 114,813 Borrowings 286,588 132,266 197,941 713,321 1,330,116 Leases Liabilities 36,714 20,608 74,565 65,639 197,526 Derivative financial instruments 13,141 — — — 13,141 Total 450,966 152,889 272,528 779,213 1,655,596
Schedule of Financial Instruments by Type of Interest Rate	The following tables show a breakdown of the Group’s fixed-rate and floating-rate borrowings per currency denomination and functional currency of the subsidiary debt holder. These analyses are performed after giving effect to interest rate swaps. The analysis for the year ended December 31, 2021 and 2020 is as follows: 2021 Subsidiaries’ functional currency Rate per currency denomination Argentine Brazilian Uruguayan U.S. Dollar Total Fixed rate: Argentine Peso 11,769 — — — 11,769 Brazilian Reais — 10,887 — — 10,887 U.S. Dollar 96,456 342,522 — 165,173 604,151 Subtotal fixed-rate borrowings 108,225 353,409 — 165,173 626,807 Variable rate: Brazilian Reais — 169,597 — — 169,597 U.S. Dollar 19,793 1,454 — — 21,247 Subtotal variable-rate borrowings 19,793 171,051 — — 190,844 Total borrowings as per statement of financial position 128,018 524,460 — 165,173 817,651 2020 Subsidiaries’ functional currency Rate per currency denomination Argentine Brazilian Uruguayan U.S. Dollar Total Fixed rate: Argentine Peso 81,283 — — — 81,283 Brazilian Reais — 22,834 — — 22,834 U.S. Dollar 30,671 423,286 2,002 157,565 613,524 Subtotal fixed-rate borrowings 111,954 446,120 2,002 157,565 717,641 Variable rate: Brazilian Reais — 184,123 — — 184,123 U.S. Dollar 66,584 2,742 — — 69,326 Subtotal variable-rate borrowings 66,584 186,865 — — 253,449 Total borrowings as per statement of financial position 178,538 632,985 2,002 157,565 971,090 For the years ended December 31, 2021 and 2020, if interest rates on floating-rate borrowings had been 1% higher with all other variables held constant, the Group’s Profit before income tax for the years would have decreased as shown below. A 1% decrease in interest rates would have an equal and opposite effect on the income statement. 2021 Subsidiaries’ functional currency Rate per currency denomination Argentine Brazilian Uruguayan U.S. Dollar Total Variable rate: Brazilian Reais — (2) — — (2) U.S. Dollar — — — — Total effects on profit before income tax — (2) — — (2) 2020 Subsidiaries’ functional currency Rate per currency denomination Argentine Brazilian Uruguayan U.S. Dollar Total Variable rate: Brazilian Reais — (1,841) — — (1,841) U.S. Dollar (666) (27) — — (693) Total effects on profit before income tax (666) (1,868) — — (2,534)
Schedule of Capital Risk Management	During the year ended December 31, 2021, the strategy was to maintain the gearing ratio within 0.40 to 0.60, as follows: 2021 2020 Total borrowings 817,651 971,090 Total equity 1,047,830 963,724 Total capital 1,865,481 1,934,814 Gearing ratio 0.44 0.50
Schedule of Financial Instruments	The following tables show the outstanding positions for each type of derivative contract as of the date of each statement of financial position: ▪ Futures/ options As of December 31, 2021: 2021 Type of Quantities Notional Fair (Loss)/Gain Futures: Sale Corn 6 935 157 157 Soybean 55 17,782 (1,283) (1,283) Sugar 87 35,922 671 292 Total 148 54,639 (455) (834) As of December 31, 2020: 2020 Type of Quantities Notional Fair (Loss)/Gain Futures: Sale Corn 52 6,027 (2,846) 2,846 Soybean 32 7,242 (3,380) 3,380 Wheat (19) (4,272) 151 (151) Sugar 217 63,025 (6,738) 5,538 Ethanol 1 277 (20) 3 Total 283 72,299 (12,833) 11,616 (*) Included in the line item “(Loss) / Gain from commodity derivative financial instruments” of Note 8. (**) All quantities expressed in tons and m 3 . Commodity future contract fair values are computed with reference to quoted market prices on future exchanges.

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of operating segments [abstract]
Schedule of Operating Segments	Segment reconciliation for the year ended December 31, 2021: 2021 Crops Rice Dairy Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 228,894 11,836 240,730 130,526 4,343 134,869 172,803 10,251 183,054 Cost of goods and services rendered (203,148) (10,083) (213,231) (109,709) (2,336) (112,045) (149,738) (8,339) (158,077) Initial recognition and changes in fair value of biological assets and agricultural produce 65,704 8,286 73,990 37,119 6,715 43,834 18,336 1,559 19,895 Gain from changes in net realizable value of agricultural produce after harvest (10,163) (1,221) (11,384) — — — — — — Margin on Manufacturing and Agricultural Activities Before Operating Expenses 81,287 8,818 90,105 57,936 8,722 66,658 41,401 3,471 44,872 General and administrative expenses (10,273) (827) (11,100) (8,891) (869) (9,760) (4,715) (541) (5,256) Selling expenses (21,925) (1,494) (23,419) (16,618) (1,490) (18,108) (20,779) (1,793) (22,572) Other operating income, net (3,538) (185) (3,723) 239 46 285 (150) (20) (170) Profit from Operations Before Financing and Taxation 45,551 6,312 51,863 32,666 6,409 39,075 15,757 1,117 16,874 Depreciation and amortization (6,501) (634) (7,135) (8,080) (814) (8,894) (7,144) (797) (7,941) Net (loss) / gain from Fair value adjustment of investment property — — — — — — — — — 2021 All other segments Land transformation Corporate Total Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 3,490 199 3,689 — — — — — — 1,097,723 26,629 1,124,352 Cost of goods and services rendered (2,966) (145) (3,111) — — — — — — (834,062) (20,903) (854,965) Initial recognition and changes in fair value of biological assets and agricultural produce 1,380 (18) 1,362 — — — — — — 211,198 16,542 227,740 Gain from changes in net realizable value of agricultural produce after harvest — — — — — — — — — (11,658) (1,221) (12,879) Margin on Manufacturing and Agricultural Activities Before Operating Expenses 1,904 36 1,940 — — — — — — 463,201 21,047 484,248 General and administrative expenses (173) (14) (187) — — — (22,119) (1,908) (24,027) (65,635) (4,159) (69,794) Selling expenses (273) (17) (290) — — — (306) (21) (327) (112,847) (4,815) (117,662) Other operating income, net (3,995) (470) (4,465) 6,613 — 6,613 103 (21) 82 (18,118) (650) (18,768) Profit from Operations Before Financing and Taxation (2,537) (465) (3,002) 6,613 — 6,613 (22,322) (1,950) (24,272) 266,601 11,423 278,024 Depreciation and amortization (175) (15) (190) — — — (738) (49) (787) (166,619) (2,309) (168,928) Net (loss) / gain from Fair value adjustment of investment property (3,884) (447) (4,331) — — — — — — (3,884) (447) (4,331) Segment reconciliation for the year ended December 31, 2020: 2020 Crops Rice Dairy Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 170,114 (1,653) 168,461 102,886 (1,024) 101,862 135,471 (1,997) 133,474 Cost of goods and services rendered (150,745) 1,495 (149,250) (74,395) 565 (73,830) (117,754) 1,747 (116,007) Initial recognition and changes in fair value of biological assets and agricultural produce 41,038 (934) 40,104 19,449 (772) 18,677 12,638 (294) 12,344 Gain from changes in net realizable value of agricultural produce after harvest 7,078 (71) 7,007 — — — (2) — (2) Margin on Manufacturing and Agricultural Activities Before Operating Expenses 67,485 (1,163) 67,061 47,940 (1,231) 46,709 30,353 (544) 29,809 General and administrative expenses (6,816) 122 (6,694) (7,045) 146 (6,899) (4,896) 108 (4,788) Selling expenses (18,265) 267 (17,998) (14,170) 247 (13,923) (13,824) 284 (13,540) Other operating income, net (12,846) (7) (12,853) 731 (18) 713 (189) 3 (186) Profit from Operations Before Financing and Taxation 29,558 (781) 29,516 27,456 (856) 26,600 11,444 (149) 11,295 Depreciation and amortization (5,397) 111 (5,286) (6,652) 147 (6,505) (6,709) 141 (6,568) Net (loss) / gain from Fair value adjustment of investment property — — — — — — — — — 2020 All other segments Land transformation Corporate Total Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 2,545 (37) 2,508 — — — — — — 822,475 (4,711) 817,764 Cost of goods and services rendered (1,984) 22 (1,962) — — — — — — (615,775) 3,829 (611,946) Initial recognition and changes in fair value of biological assets and agricultural produce 1,269 (13) 1,256 — — — — — — 124,742 (2,013) 122,729 Gain from changes in net realizable value of agricultural produce after harvest — — — — — — — — — 7,076 (71) 7,005 Margin on Manufacturing and Agricultural Activities Before Operating Expenses 1,830 (28) 1,802 — — — — — — 338,518 (2,966) 335,552 General and administrative expenses (120) 2 (118) — (4) (4) (19,319) 336 (18,983) (54,138) 710 (53,428) Selling expenses (217) 3 (214) — — — (202) 7 (195) (95,866) 808 (95,058) Other operating income, net 1,069 (2) 1,067 7,934 (14) 7,920 (161) (8) (169) 2,033 (46) 1,987 Profit from Operations Before Financing and Taxation 2,562 (25) 2,537 7,934 (18) 7,916 (19,682) 335 (19,347) 190,547 (1,494) 189,053 Depreciation and amortization (138) 3 (135) — — — (876) 14 (862) (142,288) 416 (141,872) Net (loss) / gain from Fair value adjustment of investment property 1,080 (3) 1,077 — — — — — — 1,080 (3) 1,077 Segment reconciliation for the year ended December 31, 2019: 2019 Crops Rice Dairy Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 168,938 (2,492) 166,446 102,162 (1,006) 101,156 84,767 (945) 83,822 Cost of goods and services rendered (159,197) 2,687 (156,510) (74,480) 529 (73,951) (77,532) 838 (76,694) Initial recognition and changes in fair value of biological assets and agricultural produce 30,290 (549) 29,741 13,194 (979) 12,215 13,741 (231) 13,510 Gain from changes in net realizable value of agricultural produce after harvest 1,542 283 1,825 — — — — — — Margin on Manufacturing and Agricultural Activities Before Operating Expenses 41,573 (71) 41,502 40,876 (1,456) 39,420 20,976 (338) 20,638 General and administrative expenses (5,446) (87) (5,533) (6,752) 147 (6,605) (4,188) 90 (4,098) Selling expenses (12,852) 128 (12,724) (21,072) 498 (20,574) (6,252) 18 (6,234) Other operating income, net (2,283) (225) (2,508) 282 (15) 267 (635) (68) (703) Profit from Operations Before Financing and Taxation 20,992 (255) 20,737 13,334 (826) 12,508 9,901 (298) 9,603 Depreciation and amortization (4,662) (137) (4,799) (6,994) 171 (6,823) (5,064) 98 (4,966) Net (loss) / gain from Fair value adjustment of investment property — — — — — — — — — 2019 All other segments Corporate Total Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Total segment reporting Adjustment Total as per statement of income Sales of goods sold and services rendered 3,904 27 3,931 — — — 891,554 (4,416) 887,138 Cost of goods and services rendered (3,412) (40) (3,452) — — — (675,187) 4,014 (671,173) Initial recognition and changes in fair value of biological assets and agricultural produce (40) 53 13 — — — 70,295 (1,706) 68,589 Gain from changes in net realizable value of agricultural produce after harvest — — — — — — 1,542 283 1,825 Margin on Manufacturing and Agricultural Activities Before Operating Expenses 452 40 492 — — — 288,204 (1,825) 286,379 General and administrative expenses (167) 17 (150) (19,319) 428 (18,891) (57,797) 595 (57,202) Selling expenses (171) (11) (182) (165) 23 (142) (107,628) 656 (106,972) Other operating income, net (956) 602 (354) (175) 21 (154) (1,137) 315 (822) Profit from Operations Before Financing and Taxation (842) 648 (194) (19,659) 472 (19,187) 121,642 (259) 121,383 Depreciation and amortization (181) 4 (177) (20) 3 (17) (174,578) 139 (174,439) Net (loss) / gain from Fair value adjustment of investment property (927) 602 (325) — — — (927) 602 (325) Sugar, Ethanol and Energy, and Land Transformation segments have not been reconciled due to the lack of differences. The following table presents information with respect to the Group’s reportable segments. Certain other activities of a holding function nature not allocable to the segments are disclosed in the column ‘Corporate’ . Segment analysis for the year ended December 31, 2021: Farming Sugar, Land Transformation Corporate Total Crops Rice Dairy All other Farming Sales of goods and services rendered 228,894 130,526 172,803 3,490 535,713 562,010 — — 1,097,723 Cost of goods sold and services rendered (203,148) (109,709) (149,738) (2,966) (465,561) (368,501) — — (834,062) Initial recognition and changes in fair value of biological assets and agricultural produce 65,704 37,119 18,336 1,380 122,539 88,659 — — 211,198 Changes in net realizable value of agricultural produce after harvest (10,163) — — — (10,163) (1,495) — — (11,658) Margin on manufacturing and agricultural activities before operating expenses 81,287 57,936 41,401 1,904 182,528 280,673 — — 463,201 General and administrative expenses (10,273) (8,891) (4,715) (173) (24,052) (19,464) — (22,119) (65,635) Selling expenses (21,925) (16,618) (20,779) (273) (59,595) (52,946) — (306) (112,847) Other operating income, net (3,538) 239 (150) (3,995) (7,444) (17,390) 6,613 103 (18,118) Profit / (loss) from operations before financing and taxation 45,551 32,666 15,757 (2,537) 91,437 190,873 6,613 (22,322) 266,601 Depreciation and amortization (6,501) (8,080) (7,144) (175) (21,900) (143,981) — (738) (166,619) Net (loss) / gain from Fair value adjustment of investment property — — — (3,884) (3,884) — — — (3,884) Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized) 14,399 4,117 (6,271) 8,904 21,149 (16,294) — — 4,855 Initial recognition and changes in fair value of biological assets and agricultural produce (realized) 51,305 33,002 24,607 (7,524) 101,390 104,953 — — 206,343 Changes in net realizable value of agricultural produce after harvest (unrealized) (4,001) — — — (4,001) — — — (4,001) Changes in net realizable value of agricultural produce after harvest (realized) (6,162) — — — (6,162) (1,495) — — (7,657) Farmlands and farmland improvements, net 448,608 146,795 2,143 56,315 653,861 73,979 — — 727,840 Machinery, equipment and other fixed assets, net 47,122 29,543 81,516 1,641 159,822 158,611 — — 318,433 Bearer plants, net 892 — — — 892 294,090 — — 294,982 Work in progress 3,444 33,200 27,341 1,496 65,481 15,887 — — 81,368 Right of use assest 13,005 3,361 930 — 17,296 243,469 — 11 260,776 Investment property — — — 32,132 32,132 — — — 32,132 Goodwill 7,074 979 4,660 — 12,713 3,913 — — 16,626 Biological assets 54,886 42,729 18,979 7,257 123,851 71,327 — — 195,178 Finished goods 37,225 5,015 15,157 — 57,397 80,857 — — 138,254 Raw materials, stocks held by third parties and others 42,253 14,797 10,416 579 68,045 33,225 — — 101,270 Total segment assets 654,509 276,419 161,142 99,420 1,191,490 975,358 — 11 2,166,859 Borrowings 31,755 34,230 62,061 — 128,046 524,461 — 165,144 817,651 Lease liabilities 14,106 4,157 924 — 19,187 227,585 — 82 246,854 Total segment liabilities 45,861 38,387 62,985 — 147,233 752,046 — 165,226 1,064,505 Segment analysis for the year ended December 31, 2020 Farming Sugar, Land Transformation Corporate Total Crops Rice Dairy All other Farming Sales of goods and services rendered 170,114 102,886 135,471 2,545 411,016 411,459 — — 822,475 Cost of goods sold and services rendered (150,745) (74,395) (117,754) (1,984) (344,878) (270,897) — — (615,775) Initial recognition and changes in fair value of biological assets and agricultural produce 41,038 19,449 12,638 1,269 74,394 50,348 — — 124,742 Changes in net realizable value of agricultural produce after harvest 7,078 — (2) — 7,076 — — — 7,076 Margin on manufacturing and agricultural activities before operating expenses 67,485 47,940 30,353 1,830 147,608 190,910 — — 338,518 General and administrative expenses (6,816) (7,045) (4,896) (120) (18,877) (15,942) — (19,319) (54,138) Selling expenses (18,265) (14,170) (13,824) (217) (46,476) (49,188) — (202) (95,866) Other operating income, net (12,846) 731 (189) 1,069 (11,235) 5,495 7,934 (161) 2,033 Profit / (loss) from operations before financing and taxation 29,558 27,456 11,444 2,562 71,020 131,275 7,934 (19,682) 190,547 Depreciation and amortization (5,397) (6,652) (6,709) (138) (18,896) (122,516) — (876) (142,288) Net (loss) / gain from Fair value adjustment of investment property — — — 1,080 1,080 — — — 1,080 Reverse of revaluation surplus derived from the disposals of assets before taxes — — — — — — 10,198 — 10,198 Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized) 12,211 3,975 (5,151) 2,258 13,293 19,682 — — 32,975 Initial recognition and changes in fair value of biological assets and agricultural produce (realized) 29,566 15,474 17,789 (989) 61,840 29,927 — — 91,767 Changes in net realizable value of agricultural produce after harvest (unrealized) (481) — — — (481) — — — (481) Changes in net realizable value of agricultural produce after harvest (realized) 7,559 — (2) — 7,557 — — — 7,557 Farmlands and farmland improvements, net 454,212 141,661 1,911 53,902 651,686 64,065 — — 715,751 Machinery, equipment and other fixed assets, net 39,517 18,567 67,859 539 126,482 153,490 — — 279,972 Bearer plants, net 685 — — — 685 304,144 — — 304,829 Work in progress 820 23,381 18,365 1,178 43,744 13,996 — — 57,740 Right of use assets 4,275 2,472 1,288 — 8,035 201,365 — 294 209,694 Investment property — — — 31,179 31,179 — — — 31,179 Goodwill 5,720 792 3,769 — 10,281 4,201 — — 14,482 Biological assets 43,787 29,062 12,933 4,703 90,485 75,208 — — 165,693 Finished goods 30,267 5,970 6,489 — 42,726 34,315 — — 77,041 Raw materials, stocks held by third parties and others 21,893 4,519 7,377 318 34,107 22,313 — — 56,420 Total segment assets 601,176 226,424 119,991 91,819 1,039,410 873,097 — 294 1,912,801 Borrowings 37,111 39,686 103,742 — 180,539 632,985 — 157,566 971,090 Lease liabilities 5,920 3,063 1,311 — 10,294 185,155 — 323 195,772 Total segment liabilities 43,031 42,749 105,053 — 190,833 818,140 — 157,889 1,166,862 Segment analysis for the year ended December 31, 2019 Farming Sugar, Land Transformation Corporate Total Crops Rice Dairy All other Farming Sales of goods and services rendered 168,938 102,162 84,767 3,904 359,771 531,783 — — 891,554 Cost of goods sold and services rendered (159,197) (74,480) (77,532) (3,412) (314,621) (360,566) — — (675,187) Initial recognition and changes in fair value of biological assets and agricultural produce 30,290 13,194 13,741 (40) 57,185 13,110 — — 70,295 Changes in net realizable value of agricultural produce after harvest 1,542 — — — 1,542 — — — 1,542 Margin on manufacturing and agricultural activities before operating expenses 41,573 40,876 20,976 452 103,877 184,327 — — 288,204 General and administrative expenses (5,446) (6,752) (4,188) (167) (16,553) (21,925) — (19,319) (57,797) Selling expenses (12,852) (21,072) (6,252) (171) (40,347) (67,116) — (165) (107,628) Other operating income, net (2,283) 282 (635) (956) (3,592) 126 2,504 (175) (1,137) Profit / (loss) from operations before financing and taxation 20,992 13,334 9,901 (842) 43,385 95,412 2,504 (19,659) 121,642 Depreciation and amortization (4,662) (6,994) (5,064) (181) (16,901) (157,657) — (20) (174,578) Net (loss) / gain from Fair value adjustment of investment property — — — (927) (927) — — — (927) Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized) 6,091 509 (3,957) (72) 2,571 (851) — — 1,720 Initial recognition and changes in fair value of biological assets and agricultural produce (realized) 24,199 12,685 17,698 32 54,614 13,961 — — 68,575 Changes in net realizable value of agricultural produce after harvest (unrealized) (481) — — — (481) — — — (481) Changes in net realizable value of agricultural produce after harvest (realized) 2,023 — — — 2,023 — — — 2,023 Total reportable segments’ assets and liabilities are reconciled to total assets as per the statement of financial position as follows: 2021 2020 Total reportable assets as per segment information 2,166,859 1,912,801 Intangible assets (excluding goodwill) 14,711 12,448 Deferred income tax assets 10,321 19,821 Trade and other receivables 188,080 197,928 Other assets 1,079 854 Derivative financial instruments 1,585 2,102 Cash and cash equivalents 199,766 336,282 Total assets as per the statement of financial position 2,582,401 2,482,236 2021 2020 Total reportable liabilities as per segment information 1,064,505 1,166,862 Trade and other payables 169,030 126,605 Deferred income tax liabilities 265,848 182,377 Payroll and social liabilities 26,294 24,408 Provisions for other liabilities 5,986 4,359 Current income tax liabilities 1,625 760 Derivative financial instruments 1,283 13,141 Total liabilities as per the statement of financial position 1,534,571 1,518,512
Schedule of Geographical Areas	As of and for the year ended December 31, 2021: Argentina Brazil Uruguay Others (*) Total Property, plant and equipment 868,527 542,710 11,386 — 1,422,623 Investment property 32,132 — — — 32,132 Goodwill 12,713 3,913 — — 16,626 Non-current portion of biological assets 19,355 — — — 19,355 — Sales of goods and services rendered 284,026 385,959 427,661 77 1,097,723 Initial recognition and changes in fair value of biological assets and agricultural produce 120,255 88,659 2,284 — 211,198 Changes in net realizable value of agricultural produce after harvest (9,679) (1,496) (483) — (11,658) (*) It includes the initial operations in Chile which are not disclosed separately due to its non significance. As of and for the year ended December 31, 2020: Argentina Brazil Uruguay Total Property, plant and equipment 811,653 535,857 10,782 1,358,292 Investment property 31,179 — — 31,179 Goodwill 10,280 4,202 — 14,482 Non-current portion of biological assets 14,725 — — 14,725 Sales of goods and services rendered 389,018 411,779 21,678 822,475 Initial recognition and changes in fair value of biological assets and agricultural produce 72,391 50,348 2,003 124,742 Changes in net realizable value of agricultural produce after harvest 6,770 (88) 394 7,076 As of and for the year ended December 31, 2019: Argentina Brazil Uruguay Total Sales of goods and services rendered 229,547 462,174 199,833 891,554 Initial recognition and changes in fair value of biological assets and agricultural produce 55,760 13,167 1,368 70,295 Changes in net realizable value of agricultural produce after harvest 2,682 (8) (1,132) 1,542

Sales (Tables)

Sales (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Schedule of Sales	2021 2020 2019 Manufactured products and services rendered: Ethanol 291,883 199,062 373,847 Sugar 208,365 171,102 97,710 Energy 50,321 42,756 60,913 Peanut 60,939 46,708 28,928 Sunflower 11,282 10,433 7,534 Cotton 2,540 1,969 623 Rice 127,272 96,397 97,515 Fluid milk (UHT) 62,875 54,380 38,441 Powder milk 62,728 40,500 20,722 Other diary products 28,834 17,205 8,856 Services 7,309 4,774 4,521 Rental income 615 584 564 Others 13,069 5,623 4,463 928,032 691,493 744,637 Agricultural produce and biological assets: Soybean 71,687 44,271 44,538 Corn 59,803 44,475 59,714 Wheat 27,349 14,457 18,733 Sunflower 6,167 633 701 Barley 1,684 275 1,085 Seeds 1,559 1,732 734 Milk 16,468 12,817 9,977 Cattle 3,111 1,959 3,452 Cattle for dairy 4,994 2,729 2,169 Others 3,498 2,923 1,398 196,320 126,271 142,501 Total sales 1,124,352 817,764 887,138

Cost of goods sold and servic_2

Cost of goods sold and services rendered (Tables)	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Cost of goods sold and services rendered	As of December 31, 2021: 2021 Crops Rice Dairy All other Sugar, Total Finish goods at the beginning of 2021 (Note 19) 30,267 5,970 6,489 — 34,315 77,041 Cost of production of manufactured products (Note 6) 59,590 124,304 158,083 — 415,408 757,385 Purchases 26,880 569 — — 4,860 32,309 Agricultural produce 224,788 — 16,468 3,111 10,944 255,311 Transfer to raw material (73,068) (7,240) — — — (80,308) Direct agricultural selling expenses 22,642 — — — — 22,642 Tax recoveries (i) — — — — (19,423) (19,423) Changes in net realizable value of agricultural produce after harvest (11,384) — — — (1,495) (12,879) (-) Ethanol production costs recovery — — — — (3,669) (3,669) Loss of idle productive capacity — — — — 14,270 14,270 Finished goods at the end of December 31, 2021 (Note 19) (37,225) (5,015) (15,157) — (80,857) (138,254) Exchange differences (29,259) (6,543) (7,806) — (5,852) (49,460) Cost of goods sold and services rendered, and direct agricultural selling expenses 213,231 112,045 158,077 3,111 368,501 854,965 (i) Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values. As of December 31, 2020: 2020 Crops Rice Dairy All other Sugar, Total Finished goods at the beginning of 2020 17,830 5,805 4,779 — 36,864 65,278 Cost of production of manufactured products (Note 6) 44,074 79,507 102,933 — 285,627 512,141 Purchases 3,648 — — — 6,088 9,736 Agricultural produce 137,204 — 15,546 1,962 — 154,712 Transfer to raw material (46,192) (4,256) — — — (50,448) Direct agricultural selling expenses 16,467 — — — — 16,467 Tax recoveries (i) — — — — (21,765) (21,765) Changes in net realizable value of agricultural produce after harvest 7,007 — (2) — — 7,005 Finished goods at the end of December 31, 2020 (Note 19) (30,267) (5,970) (6,489) — (34,315) (77,041) Exchange differences (521) (1,256) (760) — (1,602) (4,139) Cost of goods sold and services rendered, and direct agricultural selling expenses 149,250 73,830 116,007 1,962 270,897 611,946 (i) Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values. As of December 31, 2019: 2019 Crops Rice Dairy All other Sugar, Total Finished goods at the beginning of 2019 29,144 9,507 1,170 — 39,937 79,758 Cost of production of manufactured products (Note 6) 33,952 66,386 68,851 — 354,964 524,153 Purchases 21,715 3,095 — — 44,577 69,387 Agricultural produce 108,732 — 12,146 3,452 — 124,330 Transfer to raw material (35,757) — — — — (35,757) Direct agricultural selling expenses 15,752 — — — — 15,752 Tax recoveries (i) — — — — (32,995) (32,995) Changes in net realizable value of agricultural produce after harvest 1,825 — — — — 1,825 Finished goods at the end of December 31, 2019 (17,830) (5,805) (4,779) — (36,864) (65,278) Exchange differences (1,023) 768 (694) — (9,053) (10,002) Cost of goods sold and services rendered, and direct agricultural selling expenses 156,510 73,951 76,694 3,452 360,566 671,173 (i) Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values.

Expenses by nature (Tables)

Expenses by nature (Tables)	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Schedule of Expenses by Nature	The following table provides the additional disclosure required on the nature of expenses and their relationship to the function within the Group: Expenses by nature for the year ended December 31, 2021: Cost of production of manufactured products (Note 5) General and Selling Total Crops Rice Dairy All other Sugar, Total Salaries, social security expenses and employee benefits 3,651 6,841 9,268 — 27,072 46,832 30,727 7,221 84,780 Raw materials and consumables 578 373 24,755 — 13,036 38,742 — — 38,742 Depreciation and amortization 3,930 2,692 3,590 — 108,709 118,921 14,280 1,304 134,505 Depreciation of right of use assets — 102 602 — 5,700 6,404 7,173 49 13,626 Fuel, lubricants and others 336 89 1,730 — 24,747 26,902 854 279 28,035 Maintenance and repairs 1,341 1,851 1,779 — 16,797 21,768 1,956 800 24,524 Freights 644 8,154 2,377 — 607 11,782 — 38,970 50,752 Export taxes / selling taxes — — — — — — — 43,509 43,509 Export expenses — — — — — — — 11,745 11,745 Contractors and services 2,587 235 260 — 6,758 9,840 — — 9,840 Energy transmission — — — — — — — 2,347 2,347 Energy power 1,276 1,501 2,544 — 839 6,160 335 85 6,580 Professional fees 78 84 140 — 692 994 7,600 815 9,409 Other taxes 23 92 118 — 3,049 3,282 582 62 3,926 Contingencies — — — — — — 855 — 855 Lease expense and similar arrangements 162 319 257 — — 738 1,863 251 2,852 Third parties raw materials 2,804 2,852 62,737 — 15,240 83,633 — — 83,633 Tax recoveries — — — — (1,546) (1,546) — — (1,546) Others 962 5,273 2,166 — 2,636 11,037 3,569 10,225 24,831 Subtotal 18,372 30,458 112,323 — 224,336 385,489 69,794 117,662 572,945 Own agricultural produce consumed 41,218 93,846 45,760 — 191,072 371,896 — — 371,896 Total 59,590 124,304 158,083 — 415,408 757,385 69,794 117,662 944,841 Expenses by nature for the year ended December 31, 2020: Cost of production of manufactured products (Note 5) General and Selling Total Crops Rice Dairy All other Sugar, Total Salaries, social security expenses and employee benefits 2,348 4,466 7,452 — 26,341 40,607 25,519 5,206 71,332 Raw materials and consumables 448 3,072 14,486 — 8,743 26,749 — — 26,749 Depreciation and amortization 2,929 2,016 2,812 — 93,211 100,968 12,490 985 114,443 Depreciation of right of use assets — 19 461 — 6,208 6,688 3,557 24 10,269 Fuel, lubricants and others 131 68 2,030 — 16,543 18,772 428 187 19,387 Maintenance and repairs 639 1,492 1,141 — 12,581 15,853 954 476 17,283 Freights 172 4,617 1,708 — 649 7,146 — 33,111 40,257 Export taxes / selling taxes — — — — — — — 35,966 35,966 Export expenses — — — — — — — 8,801 8,801 Contractors and services 1,358 116 54 — 5,086 6,614 — — 6,614 Energy transmission — — — — — — — 2,231 2,231 Energy power 803 1,015 1,879 — 764 4,461 137 114 4,712 Professional fees 32 35 103 — 447 617 6,261 1,060 7,938 Other taxes 20 76 97 — 2,312 2,505 376 21 2,902 Contingencies — — — — — — 703 — 703 Lease expense and similar arrangements 111 182 137 — — 430 283 226 939 Third parties raw materials 3,257 6,578 42,051 — 13,547 65,433 — — 65,433 Tax recoveries — — — — (1,087) (1,087) — — (1,087) Others 524 1,219 1,975 — 1,613 5,331 2,720 6,650 14,701 Subtotal 12,772 24,971 76,386 — 186,958 301,087 53,428 95,058 449,573 Own agricultural produce consumed 31,302 54,536 26,547 — 98,669 211,054 — — 211,054 Total 44,074 79,507 102,933 — 285,627 512,141 53,428 95,058 660,627 Expenses by nature for the year ended December 31, 2019: Cost of production of manufactured products (Note 5) Crops Rice Dairy All other Sugar, Total General and Selling Total Salaries, social security expenses and employee benefits 1,880 4,738 4,412 — 39,768 50,798 27,492 6,211 84,501 Raw materials and consumables 314 6,527 10,151 — 15,683 32,675 — — 32,675 Depreciation and amortization 2,581 1,897 2,140 — 122,025 128,643 11,212 868 140,723 Depreciation right-of-use and other leases — 116 344 — 6,794 7,254 2,007 5 9,266 Fertilizers, agrochemicals and seeds — — — — — — — — — Fuel, lubricants and others 228 83 1,381 — 25,430 27,122 593 225 27,940 Maintenance and repairs 290 1,120 985 — 19,694 22,089 1,755 534 24,378 Freights 146 2,405 1,959 — 784 5,294 — 23,130 28,424 Export taxes / selling taxes — — — — — — — 52,312 52,312 Export expenses — — — — — — — 5,552 5,552 Contractors and services 1,051 138 40 — 9,381 10,610 — — 10,610 Energy transmission — — — — — — 88 3,057 3,145 Feeeding expenses — — — — — — — — — Veterinary expenses — — — — — — — — — Energy power 725 1,298 1,659 — 1,181 4,863 145 145 5,153 Professional fees 20 65 127 — 175 387 8,065 1,047 9,499 Other taxes 1 74 81 — 1,241 1,397 1,089 28 2,514 Contingencies — — — — — — 459 — 459 Lease expense and similar arrangements 83 171 78 — — 332 831 125 1,288 Third parties raw materials 7,136 5,629 18,131 — 11,243 42,139 — — 42,139 Tax recoveries — — — — (396) (396) — — (396) Others 431 695 681 — 2,324 4,131 3,466 13,733 21,330 Subtotal 14,886 24,956 42,169 — 255,327 337,338 57,202 106,972 501,512 Own agricultural produce consumed 19,066 41,430 26,682 — 99,637 186,815 — — 186,815 Total 33,952 66,386 68,851 — 354,964 524,153 57,202 106,972 688,327

Salaries and social security _2

Salaries and social security expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Schedule of Salaries and Social Security Expenses	2021 2020 2019 Wages and salaries (i) 101,818 89,662 104,400 Social security costs 30,296 27,430 30,888 Equity-settled share-based compensation 6,406 4,316 4,734 138,520 121,408 140,022 (i) Includes US$25,105, US$32,714 and US$32,636, capitalized in Property, Plant and Equipment for the years 2021, 2020 and 2019, respectively.

Other operating (expense) _ i_2

Other operating (expense) / income, net (Tables)	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Schedule of Other Operating Income (Expense)	2021 2020 2019 Gain from disposal of farmland and other assets (Note 21) — 2,064 1,354 Loss from the sale of subsidiaries (Note 21) 10 (554) — Loss from commodity derivative financial instrument (15,990) (8,320) (618) (Loss) / gain from disposal of other property items (397) 2,198 (329) Net (loss) / gain from fair value adjustment of investment property (4,331) 1,077 (325) Others 1,940 5,522 (904) (18,768) 1,987 (822)

Financial results, net (Tables)

Financial results, net (Tables)	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Schedule of Finance Income (Cost)	2021 2020 2019 Finance income: - Interest income 4,081 4,084 7,319 -Foreign exchange gains, net 18,939 — — - Gain from interest rate/foreign exchange rate derivative financial instruments 512 92 1,189 - Other income 13,138 21,878 1,400 Finance income 36,670 26,054 9,908 Finance costs: - Interest expense (62,536) (58,282) (60,134) - Finance cost related to lease liabilities (16,502) (12,532) (9,524) - Cash flow hedge – transfer from equity (Note 2) (52,650) (24,363) (15,594) - Foreign exchange losses, net — (109,266) (108,458) - Taxes (7,073) (4,559) (4,364) - Borrowings prepayment related expenses (Brazilian subsidiaries) (3,068) — — -Finance discount (3,741) — — - Other expenses (6,111) (4,774) (4,492) Finance costs (151,681) (213,776) (202,566) Other financial results - Net gain of inflation effects on the monetary items 11,541 12,064 92,437 Total financial results, net (103,470) (175,658) (100,221)

Taxation (Tables)

Taxation (Tables)	12 Months Ended
	Dec. 31, 2021
Income Taxes [Abstract]
Schedule of Major Components of Tax Expense (Income)	The details of the provision for the Group’s consolidated income tax are as follows: 2021 2020 2019 Current income tax (4,338) (2,840) 666 Deferred income tax (39,499) (9,485) (21,486) Income tax expense (43,837) (12,325) (20,820)
Schedule of Applicable Tax Rate by Tax Jurisdiction	The statutory tax rate in the countries where the Group operates for all of the years presented are: Tax Jurisdiction Income Tax Rate Argentina (i) 30 % Brazil 34 % Uruguay 25 % Spain 25 % Luxembourg 24.94 % (i) During 2017 and 2019, the Argentine Government introduced changes in the income tax. The income tax rate would be reduced to 30% for the years 2018 to 2020, and to 25% from 2021 onwards. A new tax on dividends was created with a rate of 7% for the years 2018 to 2020, and 13% from 2021 onwards. In June, 2021, the Argentine Government introduced new changes in the income tax, establishing increasing rates, which starts in 25% and reach 35% for income tax gains over Pesos 50 million (0.5 million USD). Also it establishes this new scheme is applicable for the year 2021 onwards. It also establishes a 7% withholding tax for dividends.
Schedule of Temporary Difference, Unused Tax Losses and Unused Tax Credits	Deferred tax assets and liabilities of the Group as of December 31, 2021 and 2020, without taking into consideration the offsetting of balances within the same tax jurisdiction, will be recovered or settled as follows: 2021 2020 Deferred income tax asset to be recovered after more than 12 months 102,374 105,424 Deferred income tax asset to be recovered within 12 months 21,976 23,744 Deferred income tax assets 124,350 129,168 Deferred income tax liability to be settled after more than 12 months (362,114) (278,035) Deferred income tax liability to be settled within 12 months (17,763) (13,689) Deferred income tax liability (379,877) (291,724) Deferred income tax liability, net (255,527) (162,556) The gross movement on the deferred income tax account is as follows: 2021 2020 Beginning of year (162,556) (151,844) Exchange differences (40,644) 1,536 Changes of fair value valuation for farmlands (9,953) (11,790) Disposal of subsidiary — 3,458 Others (349) (159) Tax credit relating to cash flow hedge (i) (2,526) 5,728 Income tax benefit expense (39,499) (9,485) End of year (255,527) (162,556) The movement in the deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows: Deferred income tax Property, Investment property Biological Others Total At January 1, 2020 280,859 11,907 4,179 (834) 296,111 Charged / (credited) to the statement of income 11,581 (1,928) 6,463 — 16,116 Farmlands revaluation 11,521 269 — — 11,790 Disposals of subsidiaries (3,513) — — — (3,513) Exchange differences (28,920) (370) 510 — (28,780) At December 31, 2020 271,528 9,878 11,152 (834) 291,724 Charged / (credited) to the statement of income 43,270 (817) (755) (1,811) 39,887 Farmlands revaluation 11,469 (1,516) — — 9,953 Disposals of subsidiaries — — — — — Exchange differences 32,167 2,336 1,797 2,013 38,313 At December 31, 2021 358,434 9,881 12,194 (632) 379,877 Deferred income tax Provisions Tax loss Equity-settled Borrowings Biological Others Total At January 1, 2020 3,237 91,419 3,383 1,548 4,508 40,172 144,267 Charged / (credited) to the statement of income 4,941 (5,843) (835) 34,017 (4,508) (21,141) 6,631 Acquisition of subsidiaries — — — — — (55) (55) Others — — (60) — — (99) (159) Tax charge relating to cash flow hedge — 5,728 — — — — 5,728 Exchange differences (1,152) (20,363) — (9,460) — 3,731 (27,244) At December 31, 2020 7,026 70,941 2,488 26,105 — 22,608 129,168 (Credited) / charged to the statement of income 1,978 13,108 — (13,589) 452 (1,561) 388 Others — — (349) — — — (349) Tax charge relating to cash flow hedge — (2,526) — — — — (2,526) Exchange differences 20 3,158 — (2,952) (386) (2,171) (2,331) At December 31, 2021 9,024 84,681 2,139 9,564 66 18,876 124,350
Schedule of Tax Loss Carryforwards	As of December 31, 2021, the Group’s tax loss carry forwards and their corresponding jurisdictions are as follows: Jurisdiction Tax loss carry forward Expiration period Argentina (1) 119,385 5 years Brazil 114,479 No expiration date. Uruguay 2,458 5 years Luxembourg 28,263 No expiration date. (1) As of December 31, 2021, the aging of the determination tax loss carry forward in Argentina is as follows: Year of generation Amount 2018 20,543 2019 82,262 2020 16,580
Schedule of Reconciliation of Accounting Profit by Applicable Tax Rate and Average Effective Tax Rate	The tax on the Group’s profit before income tax differs from the theoretical amount that would arise using the tax rates applicable to profits in the respective countries as follows: 2021 2020 2019 Tax calculated at the tax rates applicable to profits in the respective countries (54,291) (4,184) (7,250) Non-deductible items (3,459) (7,642) (1,511) Effect of the changes in the statutory income tax rate in Argentina (31,962) 6,324 3,115 Unused tax losses 482 (710) (3,742) Non-taxable income 13,604 11,060 11,545 Previously unrecognized tax losses now recouped to reduce tax expenses (1) 38,121 1,529 1,910 Effect of IAS 29 and tax adjustment per inflation in Argentina (6,402) (19,239) (23,805) Others 70 537 (1,082) Income tax expense (43,837) (12,325) (20,820) (1) 2021 includes 37,175 of adjustment by inflation of tax loss carryforwards in Argentina.

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings per share [abstract]
Schedule of Earnings per Share	2021 2020 2019 Profit / (loss) from operations attributable to equity holders of the Group 130,669 412 (772) Weighted average number of shares in issue (thousands) 115,148 117,453 117,252 Basic earnings / (loss) per share from operations 1.135 0.003 (0.007) 2021 2020 2019 Profit / (loss) from operations attributable to equity holders of the Group 130,669 412 (772) Weighted average number of shares in issue (thousands) 115,148 117,453 117,252 Adjustments for: - Employee share options and restricted units (thousands) 466 261 645 Weighted average number of shares for diluted earnings per share (thousands) 115,614 117,714 117,897 Diluted earnings / (loss) per share from operations 1.130 0.003 (0.007)

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, plant and equipment [abstract]
Schedule of Detailed Information about Property, Plant and Equipment	Changes in the Group’s property, plant and equipment in 2021 and 2020 were as follows: Farmlands Farmland Buildings and Machinery, Bearer plants Others Work in Total At January 1, 2020 Fair value for farmlands / Cost 709,585 44,887 413,727 791,024 573,060 23,907 59,158 2,615,348 Accumulated depreciation — (19,607) (181,007) (584,751) (319,540) (17,223) — (1,122,128) Net book amount 709,585 25,280 232,720 206,273 253,520 6,684 59,158 1,493,220 At December 31, 2020 Opening net book amount 709,585 25,280 232,720 206,273 253,520 6,684 59,158 1,493,220 Exchange differences (36,422) (432) (55,368) (112,657) 30,864 (617) (6,445) (181,077) Additions — — 11,279 52,350 72,592 1,877 31,192 169,290 Revaluation surplus 41,490 — — — — — — 41,490 Reclassification from investment property 3,127 — — — — — — 3,127 Transfers — (177) 10,101 16,182 — 59 (26,165) — Disposals (10,118) — (73) (3,092) — (37) — (13,320) Disposals of subsidiaries (13,496) — — — — — — (13,496) Reclassification to non-income tax credits (*) — — — (363) — — — (363) Depreciation — (3,086) (21,055) (62,788) (52,147) (1,503) — (140,579) Closing net book amount 694,166 21,585 177,604 95,905 304,829 6,463 57,740 1,358,292 Farmlands Farmland Buildings and Machinery, Bearer plants Others Work in Total At December 31, 2020 Fair value for farmlands / Cost 694,166 44,278 379,666 743,444 676,516 25,189 57,740 2,620,999 Accumulated depreciation — (22,693) (202,062) (647,539) (371,687) (18,726) — (1,262,707) Net book amount 694,166 21,585 177,604 95,905 304,829 6,463 57,740 1,358,292 Year ended December 31, 2021 Opening net book amount 694,166 21,585 177,604 95,905 304,829 6,463 57,740 1,358,292 Exchange differences 142,390 2,772 20,923 (4,804) (34,433) 20,567 9,299 156,714 Additions — 169 11,681 55,463 88,530 2,615 46,371 204,829 Revaluation surplus (126,675) — — — — — — (126,675) Reclassification from investment property 1,380 — — — — — — 1,380 Transfers — (4,773) 23,049 13,471 149 104 (32,000) — Disposals — (8) (126) (4,078) — (63) (42) (4,317) Reclassification to non-income tax credits (*) — — — (303) — — — (303) Depreciation — (3,166) (25,452) (72,471) (64,093) (2,115) — (167,297) Closing net book amount 711,261 16,579 207,679 83,183 294,982 27,571 81,368 1,422,623 At December 31, 2021 Fair value for farmlands / Cost 711,261 42,438 435,193 803,193 730,762 48,412 81,368 2,852,627 Accumulated depreciation — (25,859) (227,514) (720,010) (435,780) (20,841) — (1,430,004) Net book amount 711,261 16,579 207,679 83,183 294,982 27,571 81,368 1,422,623 (*) Brazilian federal tax law allows entities to take a percentage of the total cost of the assets purchased as a tax credit. As of December 31, 2021 and 2020, ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) tax credits were reclassified to trade and other receivables. Depreciation is calculated using the straight-line method to allocate their cost over the estimated usefull lives. Farmlands are not depreciated. Farmland improvements 5-25 years Buildings and facilities 20 years Furniture and fittings 10 years Computer equipment 3-5 years Machinery and equipment 4-10 years Vehicles 4-5 years Bearer plants 6 years - based on productivity

Right of use assets (Tables)

Right of use assets (Tables)	12 Months Ended
	Dec. 31, 2021
Rights of Use [Abstract]
Schedule of Changes in Right of Use Assets	Changes in the Group’s right of use assets in 2021 and 2020 were as follows: Agricultural partnerships (*) Others Total At January 1, 2020 Opening net book amount 219,837 18,216 238,053 Exchange differences (47,186) (3,969) (51,155) Additions and re-measurements 53,149 10,467 63,616 Depreciation (33,530) (7,290) (40,820) Closing net book amount 192,270 17,424 209,694 At December 31, 2021 Opening net book amount 192,270 17,424 209,694 Exchange differences (10,191) (55) (10,246) Additions and re-measurements 95,030 15,497 110,527 Depreciation (41,138) (8,061) (49,199) Closing net book amount 235,971 24,805 260,776 (*)

Investment property (Tables)

Investment property (Tables)	12 Months Ended
	Dec. 31, 2021
Investment property [abstract]
Schedule of Detailed Information about Investment Property	Changes in the Group’s investment property in 2021 and 2020 were as follows: 2021 2020 Beginning of the year 31,179 34,295 Net gain / (loss) from fair value adjustment (Note 8) (4,331) 1,077 Reclassification to property, plant and equipment (i) (1,380) (3,127) Exchange difference 6,664 (1,066) End of the year 32,132 31,179 Fair value 32,132 31,179 Net book amount 32,132 31,179 (i) Relates with the expiration of contracts with third parties.

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about intangible assets [abstract]
Schedule of Change in Intangible Assets	Changes in the Group’s intangible assets in 2021 and 2020 were as follows: Goodwill Software Trademarks Others Total At January 1, 2020 Cost 20,020 11,976 8,872 428 41,296 Accumulated amortization — (5,715) (1,556) (346) (7,617) Net book amount 20,020 6,261 7,316 82 33,679 Year ended December 31, 2020 Opening net book amount 20,020 6,261 7,316 82 33,679 Exchange differences (1,687) (954) (80) (35) (2,756) Additions — 823 326 94 1,243 Disposal — (46) — (46) (92) Disposal of subsidiary (3,851) — — — (3,851) Amortization charge (i) — (820) (412) (61) (1,293) Closing net book amount 14,482 5,264 7,150 34 26,930 At December 31, 2020 Cost 14,482 11,799 9,118 441 35,840 Accumulated amortization — (6,535) (1,968) (407) (8,910) Net book amount 14,482 5,264 7,150 34 26,930 Year ended December 31, 2021 Opening net book amount 14,482 5,264 7,150 34 26,930 Exchange differences 2,144 595 1,407 (4) 4,142 Additions — 1,823 — 73 1,896 Amortization charge (i) — (1,197) (366) (68) (1,631) Closing net book amount 16,626 6,485 8,191 35 31,337 At December 31, 2021 Cost 16,626 14,217 10,525 510 41,878 Accumulated amortization — (7,732) (2,334) (475) (10,541) Net book amount 16,626 6,485 8,191 35 31,337 (i) Amortization charges are included in “General and administrative expenses” and “Selling expenses” for the years ended December 31, 2021 and 2020, respectively. There were no impairment charges for any of the years presented (see Note 32 (a)).

Biological assets (Tables)

Biological assets (Tables)	12 Months Ended
	Dec. 31, 2021
Agriculture1 [Abstract]
Schedule of Reconciliation of Changes in Biological Assets	Changes in the Group’s biological assets in 2021 and 2020 were as follows: 2021 Crops Rice Dairy All other Sugarcane Total Beginning of the year 43,787 29,062 12,933 4,703 75,208 165,693 Increase due to purchases — — — 1,559 — 1,559 Initial recognition and changes in fair value of biological assets (i) 73,990 43,834 19,895 1,362 88,659 227,740 Decrease due to harvest / disposals (224,788) (99,517) (67,230) (4,322) (208,175) (604,032) Costs incurred during the year 151,971 62,477 50,323 2,842 116,252 383,865 Exchange differences 9,926 6,873 3,058 1,113 (617) 20,353 End of the year 54,886 42,729 18,979 7,257 71,327 195,178 2020 Crops Rice Dairy All other Sugarcane Total Beginning of the year 38,117 21,484 11,521 3,673 55,641 130,436 Increase due to purchases — — — 580 — 580 Initial recognition and changes in fair value of biological assets (i) 40,104 18,677 12,344 1,256 50,348 122,729 Decrease due to harvest / disposals (136,161) (51,673) (42,641) (2,760) (103,010) (336,245) Costs incurred during the year 103,076 41,243 32,043 2,003 85,006 263,371 Exchange differences (1,349) (669) (334) (49) (12,777) (15,178) End of the year 43,787 29,062 12,933 4,703 75,208 165,693 (i) Biological asset with a production cycle of more than one year (that is dairy and cattle) generated “Initial recognition and changes in fair value of biological assets” amounting to US$13,600 for the year ended December 31, 2021 (2020: US$4,257). In 2021, an amount of US$966 (2020: US$2,414) was attributable to price changes, and an amount of US$12,634 (2020: US$1,843) was attributable to physical changes. (ii) Biological assets that are measured at fair value within level 3 of the hierarchy. Cost of production as of December 31, 2021: Crops Rice Dairy All other Sugar, Total Salaries, social security expenses and employee benefits 3,622 8,554 5,978 800 9,681 28,635 Depreciation and amortization — — — — 4,288 4,288 Depreciation of right of use assets — — — — 34,312 34,312 Fertilizers, agrochemicals and seeds 55,223 15,549 — — 45,053 115,825 Fuel, lubricants and others 691 745 1,061 60 3,298 5,855 Maintenance and repairs 1,021 7,489 3,106 345 2,287 14,248 Freights 3,752 950 179 76 — 4,957 Contractors and services 49,213 23,602 — 10 7,072 79,897 Feeding expenses — — 20,534 373 — 20,907 Veterinary expenses — — 3,485 217 — 3,702 Energy power 36 3,666 1,092 6 — 4,800 Professional fees 430 187 104 6 408 1,135 Other taxes 1,339 118 10 97 53 1,617 Lease expense and similar arrangements 34,122 — 1 2 9,024 43,149 Others 2,522 1,617 762 29 776 5,706 Subtotal 151,971 62,477 36,312 2,021 116,252 369,033 Own agricultural produce consumed — — 14,011 821 — 14,832 Total 151,971 62,477 50,323 2,842 116,252 383,865 Cost of production as of December 31, 2020: Crops Rice Dairy All other Sugar, Total Salaries, social security expenses and employee benefits 2,662 5,822 4,215 672 9,161 22,532 Depreciation and amortization — — — — 3,892 3,892 Depreciation of right of use assets — — — — 27,862 27,862 Fertilizers, agrochemicals and seeds 43,446 9,655 10 — 32,376 85,487 Fuel, lubricants and others 672 534 754 51 2,097 4,108 Maintenance and repairs 1,018 4,451 1,820 229 1,943 9,461 Freights 1,832 453 118 49 — 2,452 Contractors and services 30,170 15,681 — 19 5,600 51,470 Feeding expenses — — 13,092 285 — 13,377 Veterinary expenses — — 2,395 189 — 2,584 Energy power 51 2,138 863 6 — 3,058 Professional fees 564 1,838 162 4 344 2,912 Other taxes 1,185 100 8 83 51 1,427 Lease expense and similar arrangements 19,693 109 3 2 1,005 20,812 Others 1,783 462 460 9 675 3,389 Subtotal 103,076 41,243 23,900 1,598 85,006 254,823 Own agricultural produce consumed — — 8,143 405 — 8,548 Total 103,076 41,243 32,043 2,003 85,006 263,371
Schedule of Detailed Information about Biological Assets	Biological assets in December 31, 2021 and 2020 were as follows: 2021 2020 Non-current Cattle for dairy production (i) 18,428 12,600 Breeding cattle (ii) 707 2,003 Other cattle (ii) 220 122 19,355 14,725 Current Breeding cattle (iii) 6,330 2,578 Other cattle (iii) 551 333 Sown land – crops (ii) 54,886 43,787 Sown land – rice (ii) 42,729 29,062 Sown land – sugarcane (ii) (iv) 71,327 75,208 175,823 150,968 Total biological assets 195,178 165,693 (i) Classified as bearer and mature biological assets. (ii) Classified as consumable and immature biological assets. (iii) Classified as consumable and mature biological assets.
Schedule of Biological Assets	The following table presents the Group’s biological assets that are measured at fair value at December 31, 2021 and 2020 (see Note 17 to see the description of each fair value level): 2021 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cattle for dairy production — 18,428 — 18,428 — 12,600 — 12,600 Breeding cattle 7,037 — — 7,037 4,581 — — 4,581 Other cattle — 771 — 771 — 455 — 455 Sown land – sugarcane — — 71,327 71,327 — — 75,208 75,208 Sown land – crops — — 54,886 54,886 — — 43,787 43,787 Sown land – rice — — 42,729 42,729 — — 29,062 29,062 The following significant unobservable inputs were used to measure the Group’s biological assets using the discounted cash flow valuation technique: Description Unobservable Range of unobservable inputs Relationship of unobservable 2021 2020 Sown land – sugarcane Sugarcane yield – tonnes per hectare; Sugarcane TRS (kg of sugar per ton of cane) Production Costs – US$ per hectare. (Include maintenance, harvest and leasing costs) '-Sugarcane yield: 50-100 tn/ha -Sugarcane TRS: 120-140 kg of sugar/ton of cane -Maintenance costs: 500-800 US$/ha -Harvest costs: 6.0-12.0 US$/ton of cane -Leasing costs: 12.0-14.4 tn/ha '-Sugarcane yield: 60-100tn/ha - Sugarcane TRS: 120-140kg of sugar/ton of cane - Maintenance costs: 400-600 US$/ha - Harvest costs: 6.0-12.0 US$/ton of cane - Leasing costs: 12.0-14.4 tn/ha The higher the sugarcane yield, the higher the fair value. The higher the maintenance, harvest and leasing costs per hectare, the lower the fair value. The higher the TRS of sugarcane, the higher the fair value. Sown land – crops Crops yield – tonnes per hectare; Commercial Costs – US$ per hectare; '- Crops yield: 0.85 – 5.6 tn/ha for Wheat, 3.0 – 10 tn/ha for Corn, 1.1 - 4.0 tn/ha for Soybean, 1.7 - 2.5 for Sunflower and 2.5 - 3.6 tn/ha for Peanut - Commercial Costs: 17-54 US$/tn for Wheat, 14-62 US$/ton for Corn, 19-65 US$/ton for Soybean, 18-49 US$/ton for Sunflower and 36-69 US$/ha for Peanut - Production Costs: 166-899 US$/ha for Wheat, 334-1449 US$/ha for Corn, 214-1096 US$/ha for Soybean, 308-1005 US$/ha for Sunflower and 802-2060 US$/ha for Peanut '- Crops yield: 0.95 – 5.5 tn/ha for Wheat, 2.5 – 11 tn/ha for Corn, 0.8 - 3.8 tn/ha for Soybean, 0.6-3.0 for Sunflower and 2.5 - 3.5 tn/ha for Peanut - Commercial Costs: 6-43 US$/ha for Wheat, 2-51 US$/ha for Corn, 7-59 US$/ha for Soybean, 1-71 US$/ha for Sunflower and 22.0 - 31.0 US$/ha for Peanut - Production Costs: 115-612 US$/ha for Wheat, 198-990 US$/ha for Corn, 159-750 US$/ha for Soybean, 233-641 US$/ha for Sunflower and 695.0 - 1,400.0 US$/ha for Peanut The higher the crops yield, the higher the fair value. The higher the commercial and direct costs per hectare, the lower the fair value. Sown land – rice Rice yield – tonnes per hectare; '-Rice yield: 3.2 -10.1 tn/ha -Commercial Costs: 8-25 US$/ha -Production Costs: 810-1300 US$/ha '-Rice yield: 6.5 -7.5 tn/ha -Commercial Costs: 8-16 US$/ha -Production Costs: 750-950 US$/ha The higher the rice yield, the higher the fair value. The higher the commercial and direct costs per hectare, the lower the fair value.

Financial instruments by cate_2

Financial instruments by category (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Schedule of Financial Assets and Liabilities	The following tables show the carrying amounts of financial assets and financial liabilities by category of financial instrument and reconciliation to the corresponding line item in the statements of financial position, as appropriate. Since the line items “Trade and other receivables, net” and “Trade and other payables” contain both financial instruments and non-financial assets or liabilities (such as other tax receivables or advance payments for services to be received in the future), the reconciliation is shown in the columns headed “Non-financial assets” and “Non-financial liabilities”. Financial assets at amortized cost Assets at fair Subtotal Non- Total December 31, 2021 Assets as per statement of financial position Trade and other receivables 101,371 — 101,371 86,709 188,080 Derivative financial instruments — 1,585 1,585 — 1,585 Cash and cash equivalents 199,766 — 199,766 — 199,766 Total 301,137 1,585 302,722 86,709 389,431 Liabilities at Financial Subtotal Non- Total Liabilities as per statement of financial position Trade and other payables — 153,459 153,459 15,571 169,030 Borrowings (i) — 817,651 817,651 — 817,651 Leases Liabilities — 246,854 246,854 — 246,854 Derivative financial instruments (i) 1,283 — 1,283 — 1,283 Total 1,283 1,217,964 1,219,247 15,571 1,234,818 Financial assets at amortized cost Assets at fair Subtotal Non- Total December 31, 2020 Assets as per statement of financial position Trade and other receivables 109,231 — 109,231 88,697 197,928 Derivative financial instruments — 2,102 2,102 — 2,102 Cash and cash equivalents 336,282 — 336,282 — 336,282 Total 445,513 2,102 447,615 88,697 536,312 Liabilities at Financial Subtotal Non- Total Liabilities as per statement of financial position Trade and other payables — 114,813 114,813 11,792 126,605 Borrowings (i) — 971,090 971,090 — 971,090 Leases Liabilities — 195,772 195,772 — 195,772 Derivative financial instruments (i) 13,141 — 13,141 — 13,141 Total 13,141 1,281,675 1,294,816 11,792 1,306,608 (i) Effective July 1, 2013 the Group formally documented and designated cash flow hedging relationships to hedge the foreign exchange rate risk of a portion of its highly probable future sales in U.S. Dollars using a portion of its borrowings denominated in U.S. Dollars, currency forwards and foreign currency floating-to-fixed interest rate swaps (see Note 2).
Schedule of Income, Expense, Gains and Losses on Financial Instruments	Income, expense, gains and losses on financial instruments can be assigned to the following categories: Financial asset / liabilities at amortized cost Assets/ liabilities Total December 31, 2021 Interest income (i) 4,081 — 4,081 Interest expense (i) (62,536) — (62,536) Foreign exchange (losses) / gain (i) 18,939 — 18,939 Loss from derivative financial instruments (ii) — (15,478) (15,478) Finance cost related to lease liabilities (16,502) — (16,502) Financial assets / liabilities at amortized cost Assets/ liabilities Total December 31, 2020 Interest income (i) 4,084 — 4,084 Interest expense (i) (58,282) — (58,282) Foreign exchange gains losses (i) (109,266) — (109,266) Loss from derivative financial instruments (ii) — (8,228) (8,228) Finance cost related to lease liabilities (12,532) — (12,532) (i) Included in “Financial Results, net” in the consolidated statement of income. (ii) Included in “Other operating income, net” and “Financial Results, net” in the consolidated statement of income.
Schedule of Fair Value Measurement of Assets and Liabilities	The following tables present the Group’s financial assets and financial liabilities that are measured at fair value as of December 31, 2021 and 2020 and their allocation to the fair value hierarchy: Level 1 Level 2 Total Assets Derivative financial instruments 2021 828 757 1,585 Derivative financial instruments 2020 151 1,951 2,102 Liabilities Derivative financial instruments 2021 (1,283) — (1,283) Derivative financial instruments 2020 (12,984) (157) (13,141) When no quoted prices in an active market are available, fair values (particularly with derivatives) are based on recognized valuation methods. The Group uses a range of valuation models for this purpose, details of which may be obtained from the following table: Class Pricing Method Parameters Pricing Model Level Total Futures Quoted price — — 1 (455) Interest-rate swaps Theoretical price Money market interest-rate curve Present value method 2 757 302

Trade and other receivables, _2

Trade and other receivables, net (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Schedule of Current and Non-Current Trade and Other Receivables	2021 2020 Non-current Advances to suppliers 952 1,704 Income tax credits 6,862 5,283 Non-income tax credits (i) 19,156 18,195 Judicial deposits 1,674 2,188 Receivable from disposal of subsidiary (Note 21) 9,830 23,093 Other receivables 3,757 1,803 Non-current portion 42,231 52,266 Current Trade receivables 63,726 58,530 Less: Allowance for trade receivables (3,023) (3,965) Trade receivables – net 60,703 54,565 Prepaid expenses 9,405 10,427 Advances to suppliers 19,074 17,751 Income tax credits 1,846 1,709 Non-income tax credits (i) 29,414 33,628 Receivable from disposal of subsidiary (Note 21) 17,259 15,506 Cash collateral 21 36 Other receivables 8,127 12,040 Subtotal 85,146 91,097 Current portion 145,849 145,662 Total trade and other receivables, net 188,080 197,928 (i) Includes US$303 (2020: US$363) reclassified from property, plant and equipment.
Schedule of Carrying Amounts of Trade and Other Receivables by Currency	The carrying amounts of the Group’s trade and other receivables are denominated in the following currencies (expressed in U.S. Dollars): 2021 2020 Currency U.S. Dollar 62,604 56,531 Argentine Peso 55,260 55,433 Uruguayan Peso 460 811 Brazilian Reais 69,756 85,153 188,080 197,928
Schedule of Reconciliation of Changes in Allowance for Trade Receivables	Movements on the Group’s allowance for trade receivables are as follows: 2021 2020 2019 At January 1 3,965 3,773 2,503 Charge of the year 2,022 2,192 3,656 Acquisition of subsidiary — — 46 Unused amounts reversed (970) (769) (1,314) Used during the year (1,456) (446) (48) Exchange differences (538) (785) (1,070) At December 31 3,023 3,965 3,773

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of Inventories [Abstract]
Schedule of Current Inventories	2021 2020 Raw materials 101,270 56,420 Finished goods (Note 5) (1) 138,254 77,041 239,524 133,461 (1) Finished goods of Crops reportable segment are valued at fair value.

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Schedule of Cash and Cash Equivalents	2021 2020 Cash at bank and on hand 152,721 178,079 Short-term bank deposits 47,045 158,203 199,766 336,282

Shareholders' contributions (Ta

Shareholders' contributions (Tables)	12 Months Ended
	Dec. 31, 2021
Statement of changes in equity [abstract]
Schedule of Share Capital	Number of shares Share capital and At January 1, 2019 122,382 1,084,076 Restricted shares and units vested (Note 23) — 4,455 Purchase of own shares — (3,219) At December 31,2019 122,382 1,085,312 Restricted shares and units vested (Note 23) — 4,182 Purchase of own shares — (3,106) At December 31,2020 122,382 1,086,388 Restricted shares units vested (Note 23) — 3,594 Purchase of own shares — (55,349) At December 31,2021 122,382 1,034,633 (1) Treasury shares were used to settle these options and units.

Equity-settled share-based pa_2

Equity-settled share-based payments (Tables)	12 Months Ended
	Dec. 31, 2021
Share-Based Payment Arrangements [Abstract]
Schedule of Share Options	Movements in the number of equity-settled options outstanding and their related weighted average exercise prices under the Adecoagro/ IFH 2004 Stock Incentive Option Plan are as follows: 2021 2020 2019 Average Options Average Options Average Options At January 1 6.66 1,634 6.66 1,634 6.66 1,634 Exercised — — — — — — At December 31 6.66 1,634 6.66 1,634 6.66 1,634 Options outstanding at year end under this Plan have the following expiry date and exercise prices: Exercise Shares (in thousands) Expiry date (i): 2021 2020 2019 May 1, 2024 5.83 496 496 496 May 1, 2025 5.83 452 452 452 January 1, 2026 5.83 142 142 142 February 16, 2026 7.11 103 103 103 October 1, 2026 8.62 441 441 441 (i) On May 2014, the Board of Directors decided to extend the expired date of the Plan.
Schedule of Indirect Measurement of Fair Value of Goods or Services Received	Key grant-date fair value and other assumptions under the Restricted Share Plan are detailed below: Grant Date Apr 1, May 15, Apr 1, May 12, Apr 1, May 13, Fair value 7.00 7.20 5.65 7.45 8.36 8.09 Possibility of ceasing employment before vesting — % — % — % — % — % — %
Schedule of Other Equity Instruments	Movements in the number of restricted shares outstanding under the Restricted Share Plan are as follows: Restricted shares (thousand) Restricted stock units (thousands) 2021 2020 2019 2021 2020 2019 At January 1 1,222 750 — 174 508 976 Granted (1) 1,067 751 753 — — 20 Forfeited (32) (24) (3) — (10) (12) Vested (491) (255) — (174) (324) (476) At December 31 1,766 1,222 750 — 174 508 (1) Approved by the Board of Directors of March 09, 2021 and the Shareholders Meeting of April 21, 2021.

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Schedule of Trade and Other Payables	2021 2020 Non-current Other payables 284 290 284 290 Current Trade payables 151,979 110,662 Advances from customers 8,705 4,755 Taxes payable 6,866 7,037 Payables from acquisition of property, plant and equipment — 3,569 Other payables 1,196 292 168,746 126,315 Total trade and other payables 169,030 126,605

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2021
Financial Instruments [Abstract]
Schedule of Detailed Information about Borrowings	2021 2020 Non-current Senior Notes 497,455 497,009 Bank borrowings 208,032 316,455 705,487 813,464 Current Senior Notes 8,250 8,250 Bank overdrafts 11,768 50,447 Bank borrowings 92,146 98,929 112,164 157,626 Total borrowings 817,651 971,090 The maturity of the Group's borrowings and the Group's exposure to fixed and variable interest rates is as follows: 2021 2020 Fixed rate: Less than 1 year 104,349 116,113 Between 1 and 2 years 12,503 52,175 Between 2 and 3 years 12,500 39,844 Between 3 and 4 years — 12,500 More than 5 years 497,455 497,009 626,807 717,641 Variable rate: Less than 1 year 7,815 41,513 Between 1 and 2 years 5,075 32,870 Between 2 and 3 years 31,754 6,035 Between 3 and 4 years 29,255 5,154 Between 4 and 5 years 71,045 28,334 More than 5 years 45,900 139,543 190,844 253,449 817,651 971,090 The main loans of the Group’s Brazilian Subsidiaries are: Bank Grant date Nominal amount Capital outstanding as of December 31 Maturity date Annual interest rate 2021 2020 (In millions) Millions of Millions of equivalent Dollars Millions of Banco Do Brasil (FCO) (1) October 2012 R$ 130.0 R$ 17.7 3.17 7.08 November 2022 2.94% minus 15% of performance bonus Itau BBA (FINAME) (2) December 2012 R$ 45.9 R$ 2.1 0.37 1.40 December 2022 2.50% Banco do Brasil / Itaú BBA (FINEM) (3) September 2013 R$ 273.0 R$ 26.5 4.75 9.51 January 2023 7.29% BNDES (FINEM) (4) November 2013 R$ 215.0 R$ 29.5 5.28 10.66 January 2023 4.63% Certificados Recebíveis do Agronegócio (CRA) December 2019 R$ 467.0 R$ 467.0 83.68 77.92 November 2027 3.80% + IPCA Debenture December 2020 R$ 447.0 R$ 447.0 80.10 14.43 December 2026 4.24% + IPCA ING Bank N.V (5) October 2018 US$ 75.0 US$ — — 75.0 October 2023 6.33% (1) Collateralized by (i) a first degree mortgage of the Carmen farm; and (ii) liens over the Ivinhema mill and equipment. (2) Collateralized by (i) a first degree mortgage of the Carmen farm; (ii) liens over the Ivinhema mill and equipment; and (iii) long term power purchase agreements (PPA). (3) Collateralized by (i) liens over the Ivinhema mill and equipment; and (ii) power sales contracts. (4) Collateralized by long term power purchase agreement (PPA). (5) Canceled during 2021. The main loans of the Group’s Argentinian Subsidiaries are: Bank Grant date Nominal Capital outstanding as of Maturity date Annual interest rate 2021 2020 (In millions) (In millions) (In millions) Rabobank (1) 2018 US$50.0 37.50 50.00 June, 2024 6.17% IFC Tranche A (2) 2020 US$12.6 12.35 12.60 June, 2028 4% plus LIBOR IFC Tranche B (2) 2020 US$9.4 9.22 9.41 June, 2028 4% plus LIBOR (1) Collateralized by the pledged of the shares of Dinaluca S.A., Compañía Agroforestal S.M.S.A. and Girasoles del Plata S.A. (2) Collateralized by a US$241.8 million mortgage over Carmen, Abolengo, San Carlos, Las Horquertas, and La Rosa farm, which is property of Adeco Agropecuaria S.A. A US$35.7 million mortgage over El Meridiano farm, which is property of Pilaga S.A. and a US$44.3 million mortgage over Santa Lucia farm, which is property of Bañados del Salado S.A. Evolution of the Group's borrowings as December 31, 2021 and 2020 is as follow: 2021 2020 Amount at the beginning of the year 971,090 968,280 Proceeds from long term borrowings 30,972 116,015 Payments of long term borrowings (108,425) (34,750) Proceeds from short term borrowings 286,115 207,217 Payments of short term borrowings (328,463) (233,540) Payments of interest (1) (49,592) (57,914) Accrued interest 48,791 52,800 Exchange differences, inflation and translation, net (52,693) (55,612) Others 19,856 8,594 Amount at the end of the year 817,651 971,090 (1) Excludes payment of interest related to trade and other payables.

Lease liabilities (Tables)

Lease liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of leases [Abstract]
Schedule of Lease Liabilities	2021 2020 Lease liabilities Non-current 201,718 159,435 Current 45,136 36,337 246,854 195,772
Schedule of Maturity Lease Liabilities	The maturity of the Group’s lease liabilities is as follows: 2021 2020 Less than 1 year 45,136 36,337 Between 1 and 2 years 44,847 20,276 Between 2 and 3 years 38,745 30,228 Between 3 and 4 years 30,085 23,920 Between 4 and 5 years 24,072 19,951 More than 5 years 63,969 65,060 246,854 195,772
Summary of Lease Liability Activity	Agricultural "partnerships" Others Total Amount at the beginning of the year 178,423 17,349 195,772 Exchange differences (11,698) 51 (11,647) Additions and re-measurement 93,091 15,409 108,500 Payments (53,206) (9,067) (62,273) Finance cost related to lease liabilities 15,403 1,099 16,502 Closing net book amount 222,013 24,841 246,854

Payroll and social securities_2

Payroll and social securities payable (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Schedule of Payroll and Social Security Liabilities	2021 2020 Non-current Social security payable 1,243 1,075 1,243 1,075 Current Salaries payable 2,617 2,774 Social security payable 3,499 2,827 Provision for vacations 8,136 6,866 Provision for bonuses 10,799 10,866 25,051 23,333 Total payroll and social security liabilities 26,294 24,408

Provisions for other liabilit_2

Provisions for other liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of other provisions [abstract]
Schedule of Changes in Provisions for Other Liabilities	The table below shows the movements in the Group's provisions for other liabilities categorized by type of provision: Labor, legal and Others Total At January 1, 2020 3,126 46 3,172 Additions 890 1,449 2,339 Used during year (407) — (407) Exchange differences (745) — (745) At December 31, 2020 2,864 1,495 4,359 Additions 917 3,475 4,392 Used during year (1,028) (1,455) (2,483) Exchange differences (226) (56) (282) At December 31, 2021 2,527 3,459 5,986 Analysis of total provisions: 2021 2020 Non current 2,565 2,705 Current 3,421 1,654 5,986 4,359

Group companies (Tables)

Group companies (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of subsidiaries [abstract]
Schedule of Interests in Subsidiaries	The following table details the subsidiaries that comprised the Group as of December 31, 2021 and 2020: 2021 2020 Activities Country of Ownership Ownership Details of principal subsidiary undertakings: Operating companies (unless otherwise stated): Adeco Agropecuaria S.A. (a) Argentina — — Pilagá S.A. (a) Argentina 99.94 % 99.94 % Cavok S.A. (a) Argentina 51 % 51 % Establecimientos El Orden S.A. (a) Argentina 51 % 51 % Bañado del Salado S.A. (a) Argentina — — Agro Invest S.A. (a) Argentina 51 % 51 % Forsalta S.A. (a) Argentina 51 % 51 % Dinaluca S.A. (a) Argentina — — Compañía Agroforestal S.M.S.A. (a) Argentina — — Energía Agro S.A.U. (a) Argentina — — L3N S.A. (d) Argentina — — Maní del Plata S.A. (a) Argentina — — Girasoles del Plata S.A. (a) Argentina — — Adeco Agropecuaria Brasil S.A. (b) Brazil — — Adecoagro Vale do Ivinhema S.A. ("AVI") (b) Brazil — — Usina Monte Alegre Ltda. ("UMA") (b) Brazil — — Monte Alegre Energia Ltda. (b) Brazil — — Adecoagro Energia Ltda. (b) Brazil — — Adecoagro Agricultura e Participação Ltda. (b) Brazil — — Kelizer S.A. (a) Uruguay — — Adecoagro Uruguay S.A. (a) Uruguay — — Adecoagro Chile S.P.A (a) Chile — — Holdings companies: Adeco Brasil Participações S.A. — Brazil — — Adecoagro LP S.C.S. — Luxembourg — — Adecoagro GP S.a.r.l. — Luxembourg — — Ladelux S.C.A. — Uruguay — — Spain Holding Companies (c) Spain — — (a) Mainly crops, rice, cattle and others. (b) Mainly sugarcane, ethanol and energy. (c) Comprised by (1) wholly owned subsidiaries: Kadesh Hispania S.L.U.; Leterton España S.L.U.; Global Asterion S.L.U.; Global Acasto S.L.U.; Global Laertes S.L.U.; Global Pindaro S.L.U.; Global Pileo S.L.U.; Peak Texas S.L.U.; Global Neimoidia S.L.U. and 51% controlled subsidiaries; Global Acamante S.L.U.; Global Carelio S.L.U.; Global Calidon S.L.U.; Global Mirabilis S.L.U. Global Anceo S.L.U.Global Hisingen S.L.U. (d) Mainly dairy.

Related-party transactions (Tab

Related-party transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Related Party [Abstract]
Schedule of Balances and Transactions with Related Parties	The following is a summary of the balances and transactions with related parties: Related party Relationship Description of transaction Income (loss) included in the Balance receivable 2021 2020 2019 2021 2020 Management and selected employees Employment Compensation selected employees (7,883) (5,232) (7,122) (16,198) (15,499)

Critical accounting estimates_2

Critical accounting estimates and judgments (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of Changes in Accounting Policies, Accounting Estimates and Errors [Abstract]
Schedule of Goodwill Allocated	The following table shows only the 11 CGUs (2020: 12 CGUs) where goodwill was allocated at each period end and the corresponding amount of goodwill allocated to each one: CGU / Operating segment / Country September 30, 2021 September 30, 2020 La Carolina / Crops / Argentina 197 168 La Carolina / Cattle / Argentina 32 27 El Orden / Crops / Argentina 212 180 El Orden / Cattle / Argentina 8 7 La Guarida / Crops / Argentina 1,407 1,196 La Guarida / Cattle / Argentina 725 616 Los Guayacanes / Crops / Argentina 2,606 2,215 Doña Marina / Rice / Argentina 4,536 3,856 Huelen / Crops / Argentina (1) — 3,838 El Colorado / Crops / Argentina 2,256 1,918 El Colorado / Cattle / Argentina 22 19 Closing net book value of goodwill allocated to CGUs tested (Note 15) 12,001 14,040 Closing net book value of PPE items allocated to CGUs tested 143,064 161,010 Total assets allocated to CGUs tested 155,065 175,050 (1) Dispose on December 2020, see Note 21.
Schedule of Key Assumptions in Valuation Calculations	The key assumptions used by management in the value-in-use calculations which are considered to be most sensitive to the calculation are: Key Assumptions September 30, 2021 September 30, 2020 Financial projections Covers 5 years for UMA (*) Covers 4 years for UMA (*) Covers 5 years for AVI (**) Covers 7 years for AVI (**) Yield average growth rates 0-1% 0-1% Future pricing increases 1.76% per annum 1.76% per annum Future cost decrease 0.33% per annum 0.33% per annum Discount rates 4% 7% Perpetuity growth rate 1% 1% (*) UMA stands for Usina Monte Alegre LTDA. (**) AVI stands for Adecoagro Vale Do Ivinhema S.A. The following table shows only the 2 CGUs where goodwill was allocated at each period end and the corresponding amount of goodwill allocated to each one: CGU/ Operating segment September 30, 2021 September 30, 2020 AVI / Sugar, Ethanol and Energy 2,919 2,815 UMA / Sugar, Ethanol and Energy 1,095 1,056 Closing net book value of goodwill allocated to CGUs tested (Note 15) 4,014 3,871 Closing net book value of PPE items allocated to CGUs tested 469,434 494,077 Total assets allocated to 2 CGUs tested 473,448 497,948

General information - Narrative

General information - Narrative (Details) - 12 months ended Dec. 31, 2021	segment	business
Disclosure of operating segments [line items]
Number of major lines of business	3	3
Farming
Disclosure of operating segments [line items]
Number of segments	3

Financial risk management - Net

Financial risk management - Net Monetary Position (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ (916,525)	$ (847,201)
Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(33,002)	(115,385)
Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(396,288)	(298,039)
U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(485,398)	(433,122)
Uruguayan Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(1,837)	(655)
Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(300,450)	(308,450)
Argentine Peso | Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(33,002)	(115,097)
Argentine Peso | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(267,448)	(193,353)
Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(666,501)	(605,650)
Brazilian Reais | Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(396,288)	(298,039)
Brazilian Reais | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(270,213)	(307,611)
Uruguayan Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	19,936	20,065
Uruguayan Peso | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	21,773	20,720
Uruguayan Peso | Uruguayan Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(1,837)	(655)
U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	30,490	46,834
U.S. Dollar | Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	(288)
U.S. Dollar | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ 30,490	$ 47,122

Financial risk management - Nar

Financial risk management - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)customerbank	Dec. 31, 2020USD ($)customerbank	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure of major customers [line items]
Proportion of sales designated for hedging activities (as a percent)	10.00%	15.00%
Gain on hedge ineffectiveness recognised in other comprehensive income	$ 10,565	$ 46,145
Reclassification adjustments on cash flow hedges for which hedged item affected profit or loss, net of tax	(42,848)	(26,031)
Cash and cash equivalents	$ 199,766	$ 336,282	$ 290,276	$ 273,635
Number of major banks | bank	4	6
Gearing ratio	44.00%	50.00%
Forward contract
Disclosure of major customers [line items]
Notional amount	$ 75,900	$ 42,200	$ 71,700
Bottom of range
Disclosure of major customers [line items]
Gearing ratio	40.00%
Top of range
Disclosure of major customers [line items]
Gearing ratio	60.00%
Credit risk
Disclosure of major customers [line items]
Number of major banks | bank	3
Proportion of total cash deposited in major banks (as a percent)	81.00%	81.00%
Credit risk | Crops
Disclosure of major customers [line items]
Proportion of sales (as a percent)	73.00%	80.00%
Number of well-known customers | customer	27	36
Credit risk | Ethanol
Disclosure of major customers [line items]
Proportion of sales (as a percent)	100.00%	100.00%
Number of well-known customers | customer	39	52
Credit risk | Sugar
Disclosure of major customers [line items]
Proportion of sales (as a percent)	86.00%	78.00%
Number of well-known customers | customer	124	76
Credit risk | Energy
Disclosure of major customers [line items]
Proportion of sales (as a percent)	95.00%	96.00%
Number of well-known customers | customer	72	52
Credit risk | Dairy
Disclosure of major customers [line items]
Proportion of sales (as a percent)	67.00%	65.00%
Number of well-known customers | customer	18	21
Interest rate risk | Itau BBA FINAME Loan
Disclosure of major customers [line items]
Notional amount		$ 400,000
Interest rate risk | Floating interest rate
Disclosure of major customers [line items]
Interest rate on borrowings (as a percent)		1.85%
Interest rate risk | Fixed interest rate
Disclosure of major customers [line items]
Interest rate on borrowings (as a percent)		4.24%
Currency risk
Disclosure of major customers [line items]
Sensitivity analysis for types of market risk (as a percent)	10.00%	10.00%
Argentine Peso | Currency risk | Forward contract
Disclosure of major customers [line items]
Gain (loss) on hedge ineffectiveness recognised in profit or loss	$ (2,100)	$ 1,800
Brazilian Reais | Currency risk | Forward contract
Disclosure of major customers [line items]
Gain (loss) on hedge ineffectiveness recognised in profit or loss		$ (1,900)

Financial risk management - Cur

Financial risk management - Currency Appreciation/Depreciation Effects on Net Monetary Position (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ (916,525)	$ (847,201)
U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(485,398)	(433,122)
Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(300,450)	(308,450)
Argentine Peso | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(267,448)	(193,353)
Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(666,501)	(605,650)
Brazilian Reais | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(270,213)	(307,611)
Uruguayan Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	19,936	20,065
Uruguayan Peso | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	21,773	20,720
Currency risk | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(51,589)	(48,024)
Currency risk | Argentine Peso | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(26,745)	(19,335)
Currency risk | Brazilian Reais | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(27,021)	(30,761)
Currency risk | Uruguayan Peso | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ 2,177	$ 2,072

Financial risk management - Mat

Financial risk management - Maturity Analysis Financial Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Maturity Analysis for Non-Derivative and Derivative Financial Liabilities [Line Items]
Trade and other payables	$ 153,459	$ 114,813
Borrowings	1,033,876	1,330,116
Leases Liabilities	352,361	197,526
Derivative financial instruments	1,283	13,141
Total	1,540,979	1,655,596
Less than 1 year
Disclosure of Maturity Analysis for Non-Derivative and Derivative Financial Liabilities [Line Items]
Trade and other payables	153,175	114,523
Borrowings	153,311	286,588
Leases Liabilities	53,384	36,714
Derivative financial instruments	1,283	13,141
Total	361,153	450,966
Between 1 and 2 years
Disclosure of Maturity Analysis for Non-Derivative and Derivative Financial Liabilities [Line Items]
Trade and other payables	15	15
Borrowings	57,849	132,266
Leases Liabilities	53,172	20,608
Derivative financial instruments	0	0
Total	111,036	152,889
Between 2 and 5 years
Disclosure of Maturity Analysis for Non-Derivative and Derivative Financial Liabilities [Line Items]
Trade and other payables	22	22
Borrowings	245,538	197,941
Leases Liabilities	122,625	74,565
Derivative financial instruments	0	0
Total	368,185	272,528
Over 5 Years
Disclosure of Maturity Analysis for Non-Derivative and Derivative Financial Liabilities [Line Items]
Trade and other payables	247	253
Borrowings	577,178	713,321
Leases Liabilities	123,180	65,639
Derivative financial instruments	0	0
Total	$ 700,605	$ 779,213

Financial risk management - Ana

Financial risk management - Analysis of Borrowings after Interest Rate Swaps (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ (916,525)	$ (847,201)
Total debt	817,651	971,090	$ 968,280
Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Total debt	817,651	971,090
Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	626,807	717,641
Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	190,844	253,449
Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(33,002)	(115,385)
Argentine Peso | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	11,769	81,283
Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(396,288)	(298,039)
Brazilian Reais | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	10,887	22,834
Brazilian Reais | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	169,597	184,123
U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(485,398)	(433,122)
U.S. Dollar | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	604,151	613,524
U.S. Dollar | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	21,247	69,326
Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(300,450)	(308,450)
Argentine Peso | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Total debt	128,018	178,538
Argentine Peso | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	108,225	111,954
Argentine Peso | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	19,793	66,584
Argentine Peso | Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(33,002)	(115,097)
Argentine Peso | Argentine Peso | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	11,769	81,283
Argentine Peso | Brazilian Reais | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
Argentine Peso | Brazilian Reais | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
Argentine Peso | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(267,448)	(193,353)
Argentine Peso | U.S. Dollar | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	96,456	30,671
Argentine Peso | U.S. Dollar | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	19,793	66,584
Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(666,501)	(605,650)
Brazilian Reais | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Total debt	524,460	632,985
Brazilian Reais | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	353,409	446,120
Brazilian Reais | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	171,051	186,865
Brazilian Reais | Argentine Peso | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
Brazilian Reais | Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(396,288)	(298,039)
Brazilian Reais | Brazilian Reais | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	10,887	22,834
Brazilian Reais | Brazilian Reais | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	169,597	184,123
Brazilian Reais | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(270,213)	(307,611)
Brazilian Reais | U.S. Dollar | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	342,522	423,286
Brazilian Reais | U.S. Dollar | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	1,454	2,742
Uruguayan Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	19,936	20,065
Uruguayan Peso | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Total debt	0	2,002
Uruguayan Peso | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	2,002
Uruguayan Peso | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
Uruguayan Peso | Argentine Peso | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
Uruguayan Peso | Brazilian Reais | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
Uruguayan Peso | Brazilian Reais | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
Uruguayan Peso | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	21,773	20,720
Uruguayan Peso | U.S. Dollar | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	2,002
Uruguayan Peso | U.S. Dollar | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	30,490	46,834
U.S. Dollar | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Total debt	165,173	157,565
U.S. Dollar | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	165,173	157,565
U.S. Dollar | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
U.S. Dollar | Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	(288)
U.S. Dollar | Argentine Peso | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
U.S. Dollar | Brazilian Reais | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
U.S. Dollar | Brazilian Reais | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
U.S. Dollar | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	30,490	47,122
U.S. Dollar | U.S. Dollar | Fixed interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	165,173	157,565
U.S. Dollar | U.S. Dollar | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ 0	$ 0

Financial risk management - Flo

Financial risk management - Floating Rate Risk Effects on Profit Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	$ 174,554	$ 13,395	$ 21,162
Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	(2,000)	(2,534)
Floating interest rate | Interest rate risk | Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	0	(666)
Floating interest rate | Interest rate risk | Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	(2,000)	(1,868)
Floating interest rate | Interest rate risk | Uruguayan Peso
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	0	0
Floating interest rate | Interest rate risk | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	0	0
Brazilian Reais | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	(2,000)	(1,841)
Brazilian Reais | Floating interest rate | Interest rate risk | Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	0	0
Brazilian Reais | Floating interest rate | Interest rate risk | Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	(2,000)	(1,841)
Brazilian Reais | Floating interest rate | Interest rate risk | Uruguayan Peso
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	0	0
Brazilian Reais | Floating interest rate | Interest rate risk | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	0	0
U.S. Dollar | Floating interest rate | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	0	(693)
U.S. Dollar | Floating interest rate | Interest rate risk | Argentine Peso
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	0	(666)
U.S. Dollar | Floating interest rate | Interest rate risk | Brazilian Reais
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	0	(27)
U.S. Dollar | Floating interest rate | Interest rate risk | Uruguayan Peso
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax		0
U.S. Dollar | Floating interest rate | Interest rate risk | U.S. Dollar
Disclosure of detailed information about financial instruments [line items]
Profit / (Loss) before income tax	$ 0	$ 0

Financial risk management - Cap

Financial risk management - Capital Risk Management (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [abstract]
Total debt	$ 817,651	$ 971,090	$ 968,280
Total equity	1,047,830	963,724	$ 1,028,883	$ 1,108,145
Total capital	$ 1,865,481	$ 1,934,814

Financial risk management - Der

Financial risk management - Derivative Contracts (Details) biological_asset in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)biological_asset	Dec. 31, 2020USD ($)biological_asset
Disclosure of detailed information about financial instruments [line items]
Tons of biological asset | biological_asset	148	283
Notional amount	$ 54,639	$ 72,299
Fair Value Asset/ (Liability)	(455)	(12,833)
Loss/(Gain)	$ (834)	$ 11,616
Corn | Futures
Disclosure of detailed information about financial instruments [line items]
Tons of biological asset | biological_asset	6	52
Notional amount	$ 935	$ 6,027
Fair Value Asset/ (Liability)	157	(2,846)
Loss/(Gain)	$ 157	$ 2,846
Soybean | Futures
Disclosure of detailed information about financial instruments [line items]
Tons of biological asset | biological_asset	55	32
Notional amount	$ 17,782	$ 7,242
Fair Value Asset/ (Liability)	(1,283)	(3,380)
Loss/(Gain)	$ (1,283)	$ 3,380
Wheat | Futures
Disclosure of detailed information about financial instruments [line items]
Tons of biological asset | biological_asset		(19)
Notional amount		$ (4,272)
Fair Value Asset/ (Liability)		151
Loss/(Gain)		$ (151)
Sugar | Futures
Disclosure of detailed information about financial instruments [line items]
Tons of biological asset | biological_asset	87	217
Notional amount	$ 35,922	$ 63,025
Fair Value Asset/ (Liability)	671	(6,738)
Loss/(Gain)	$ 292	$ 5,538
Ethanol | Futures
Disclosure of detailed information about financial instruments [line items]
Tons of biological asset | biological_asset		1
Notional amount		$ 277
Fair Value Asset/ (Liability)		(20)
Loss/(Gain)		$ 3

Segment information - Narrative

Segment information - Narrative (Details) - 12 months ended Dec. 31, 2021	segment	business
Disclosure of operating segments [line items]
Number of major lines of business	3	3
Farming
Disclosure of operating segments [line items]
Number of segments	3

Segment information - Reconcili

Segment information - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [line items]
Sales of goods and services rendered	$ 1,124,352	$ 817,764	$ 887,138
Cost of goods sold and services rendered	(854,965)	(611,946)	(671,173)
Initial recognition and changes in fair value of biological assets and agricultural produce	227,740	122,729	68,589
Changes in net realizable value of agricultural produce after harvest	(12,879)	7,005	1,825
Margin on manufacturing and agricultural activities before operating expenses	484,248	335,552	286,379
General and administrative expenses	(69,794)	(53,428)	(57,202)
Selling expenses	(117,662)	(95,058)	(106,972)
Other operating (expense)/ income, net	(18,768)	1,987	(822)
Profit from operations	278,024	189,053	121,383
Depreciation and amortization	(168,928)	(141,872)	(174,439)
Net (loss) / gain from Fair value adjustment of investment property	(4,331)	1,077	(325)
IAS 29 and IAS 21 adjustment
Disclosure of operating segments [line items]
Sales of goods and services rendered	26,629	(4,711)	(4,416)
Cost of goods sold and services rendered	(20,903)	3,829	4,014
Initial recognition and changes in fair value of biological assets and agricultural produce	16,542	(2,013)	(1,706)
Changes in net realizable value of agricultural produce after harvest	(1,221)	(71)	283
Margin on manufacturing and agricultural activities before operating expenses	21,047	(2,966)	(1,825)
General and administrative expenses	(4,159)	710	595
Selling expenses	(4,815)	808	656
Other operating (expense)/ income, net	(650)	(46)	315
Profit from operations	11,423	(1,494)	(259)
Depreciation and amortization	(2,309)	416	139
Net (loss) / gain from Fair value adjustment of investment property	(447)	(3)	602
Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	1,097,723	822,475	891,554
Cost of goods sold and services rendered	(834,062)	(615,775)	(675,187)
Initial recognition and changes in fair value of biological assets and agricultural produce	211,198	124,742	70,295
Changes in net realizable value of agricultural produce after harvest	(11,658)	7,076	1,542
Margin on manufacturing and agricultural activities before operating expenses	463,201	338,518	288,204
General and administrative expenses	(65,635)	(54,138)	(57,797)
Selling expenses	(112,847)	(95,866)	(107,628)
Other operating (expense)/ income, net	(18,118)	2,033	(1,137)
Profit from operations	266,601	190,547	121,642
Depreciation and amortization	(166,619)	(142,288)	(174,578)
Net (loss) / gain from Fair value adjustment of investment property	(3,884)	1,080	(927)
Farming | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	535,713	411,016	359,771
Cost of goods sold and services rendered	(465,561)	(344,878)	(314,621)
Initial recognition and changes in fair value of biological assets and agricultural produce	122,539	74,394	57,185
Changes in net realizable value of agricultural produce after harvest	(10,163)	7,076	1,542
Margin on manufacturing and agricultural activities before operating expenses	182,528	147,608	103,877
General and administrative expenses	(24,052)	(18,877)	(16,553)
Selling expenses	(59,595)	(46,476)	(40,347)
Other operating (expense)/ income, net	(7,444)	(11,235)	(3,592)
Profit from operations	91,437	71,020	43,385
Depreciation and amortization	(21,900)	(18,896)	(16,901)
Net (loss) / gain from Fair value adjustment of investment property	(3,884)	1,080	(927)
Farming | Crops
Disclosure of operating segments [line items]
Sales of goods and services rendered	240,730	168,461	166,446
Cost of goods sold and services rendered	(213,231)	(149,250)	(156,510)
Initial recognition and changes in fair value of biological assets and agricultural produce	73,990	40,104	29,741
Changes in net realizable value of agricultural produce after harvest	(11,384)	7,007	1,825
Margin on manufacturing and agricultural activities before operating expenses	90,105	67,061	41,502
General and administrative expenses	(11,100)	(6,694)	(5,533)
Selling expenses	(23,419)	(17,998)	(12,724)
Other operating (expense)/ income, net	(3,723)	(12,853)	(2,508)
Profit from operations	51,863	29,516	20,737
Depreciation and amortization	(7,135)	(5,286)	(4,799)
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Farming | Crops | IAS 29 and IAS 21 adjustment
Disclosure of operating segments [line items]
Sales of goods and services rendered	11,836	(1,653)	(2,492)
Cost of goods sold and services rendered	(10,083)	1,495	2,687
Initial recognition and changes in fair value of biological assets and agricultural produce	8,286	(934)	(549)
Changes in net realizable value of agricultural produce after harvest	(1,221)	(71)	283
Margin on manufacturing and agricultural activities before operating expenses	8,818	(1,163)	(71)
General and administrative expenses	(827)	122	(87)
Selling expenses	(1,494)	267	128
Other operating (expense)/ income, net	(185)	(7)	(225)
Profit from operations	6,312	(781)	(255)
Depreciation and amortization	(634)	111	(137)
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Farming | Crops | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	228,894	170,114	168,938
Cost of goods sold and services rendered	(203,148)	(150,745)	(159,197)
Initial recognition and changes in fair value of biological assets and agricultural produce	65,704	41,038	30,290
Changes in net realizable value of agricultural produce after harvest	(10,163)	7,078	1,542
Margin on manufacturing and agricultural activities before operating expenses	81,287	67,485	41,573
General and administrative expenses	(10,273)	(6,816)	(5,446)
Selling expenses	(21,925)	(18,265)	(12,852)
Other operating (expense)/ income, net	(3,538)	(12,846)	(2,283)
Profit from operations	45,551	29,558	20,992
Depreciation and amortization	(6,501)	(5,397)	(4,662)
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Farming | Rice
Disclosure of operating segments [line items]
Sales of goods and services rendered	134,869	101,862	101,156
Cost of goods sold and services rendered	(112,045)	(73,830)	(73,951)
Initial recognition and changes in fair value of biological assets and agricultural produce	43,834	18,677	12,215
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	66,658	46,709	39,420
General and administrative expenses	(9,760)	(6,899)	(6,605)
Selling expenses	(18,108)	(13,923)	(20,574)
Other operating (expense)/ income, net	285	713	267
Profit from operations	39,075	26,600	12,508
Depreciation and amortization	(8,894)	(6,505)	(6,823)
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Farming | Rice | IAS 29 and IAS 21 adjustment
Disclosure of operating segments [line items]
Sales of goods and services rendered	4,343	(1,024)	(1,006)
Cost of goods sold and services rendered	(2,336)	565	529
Initial recognition and changes in fair value of biological assets and agricultural produce	6,715	(772)	(979)
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	8,722	(1,231)	(1,456)
General and administrative expenses	(869)	146	147
Selling expenses	(1,490)	247	498
Other operating (expense)/ income, net	46	(18)	(15)
Profit from operations	6,409	(856)	(826)
Depreciation and amortization	(814)	147	171
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Farming | Rice | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	130,526	102,886	102,162
Cost of goods sold and services rendered	(109,709)	(74,395)	(74,480)
Initial recognition and changes in fair value of biological assets and agricultural produce	37,119	19,449	13,194
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	57,936	47,940	40,876
General and administrative expenses	(8,891)	(7,045)	(6,752)
Selling expenses	(16,618)	(14,170)	(21,072)
Other operating (expense)/ income, net	239	731	282
Profit from operations	32,666	27,456	13,334
Depreciation and amortization	(8,080)	(6,652)	(6,994)
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Farming | Dairy
Disclosure of operating segments [line items]
Sales of goods and services rendered	183,054	133,474	83,822
Cost of goods sold and services rendered	(158,077)	(116,007)	(76,694)
Initial recognition and changes in fair value of biological assets and agricultural produce	19,895	12,344	13,510
Changes in net realizable value of agricultural produce after harvest	0	(2)	0
Margin on manufacturing and agricultural activities before operating expenses	44,872	29,809	20,638
General and administrative expenses	(5,256)	(4,788)	(4,098)
Selling expenses	(22,572)	(13,540)	(6,234)
Other operating (expense)/ income, net	(170)	(186)	(703)
Profit from operations	16,874	11,295	9,603
Depreciation and amortization	(7,941)	(6,568)	(4,966)
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Farming | Dairy | IAS 29 and IAS 21 adjustment
Disclosure of operating segments [line items]
Sales of goods and services rendered	10,251	(1,997)	(945)
Cost of goods sold and services rendered	(8,339)	1,747	838
Initial recognition and changes in fair value of biological assets and agricultural produce	1,559	(294)	(231)
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	3,471	(544)	(338)
General and administrative expenses	(541)	108	90
Selling expenses	(1,793)	284	18
Other operating (expense)/ income, net	(20)	3	(68)
Profit from operations	1,117	(149)	(298)
Depreciation and amortization	(797)	141	98
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Farming | Dairy | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	172,803	135,471	84,767
Cost of goods sold and services rendered	(149,738)	(117,754)	(77,532)
Initial recognition and changes in fair value of biological assets and agricultural produce	18,336	12,638	13,741
Changes in net realizable value of agricultural produce after harvest	0	(2)	0
Margin on manufacturing and agricultural activities before operating expenses	41,401	30,353	20,976
General and administrative expenses	(4,715)	(4,896)	(4,188)
Selling expenses	(20,779)	(13,824)	(6,252)
Other operating (expense)/ income, net	(150)	(189)	(635)
Profit from operations	15,757	11,444	9,901
Depreciation and amortization	(7,144)	(6,709)	(5,064)
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Farming | All other segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	3,689	2,508	3,931
Cost of goods sold and services rendered	(3,111)	(1,962)	(3,452)
Initial recognition and changes in fair value of biological assets and agricultural produce	1,362	1,256	13
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	1,940	1,802	492
General and administrative expenses	(187)	(118)	(150)
Selling expenses	(290)	(214)	(182)
Other operating (expense)/ income, net	(4,465)	1,067	(354)
Profit from operations	(3,002)	2,537	(194)
Depreciation and amortization	(190)	(135)	(177)
Net (loss) / gain from Fair value adjustment of investment property	(4,331)	1,077	(325)
Farming | All other segments | IAS 29 and IAS 21 adjustment
Disclosure of operating segments [line items]
Sales of goods and services rendered	199	(37)	27
Cost of goods sold and services rendered	(145)	22	(40)
Initial recognition and changes in fair value of biological assets and agricultural produce	(18)	(13)	53
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	36	(28)	40
General and administrative expenses	(14)	2	17
Selling expenses	(17)	3	(11)
Other operating (expense)/ income, net	(470)	(2)	602
Profit from operations	(465)	(25)	648
Depreciation and amortization	(15)	3	4
Net (loss) / gain from Fair value adjustment of investment property	(447)	(3)	602
Farming | All other segments | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	3,490	2,545	3,904
Cost of goods sold and services rendered	(2,966)	(1,984)	(3,412)
Initial recognition and changes in fair value of biological assets and agricultural produce	1,380	1,269	(40)
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	1,904	1,830	452
General and administrative expenses	(173)	(120)	(167)
Selling expenses	(273)	(217)	(171)
Other operating (expense)/ income, net	(3,995)	1,069	(956)
Profit from operations	(2,537)	2,562	(842)
Depreciation and amortization	(175)	(138)	(181)
Net (loss) / gain from Fair value adjustment of investment property	(3,884)	1,080	(927)
Land Transformation
Disclosure of operating segments [line items]
Sales of goods and services rendered	0	0
Cost of goods sold and services rendered	0	0
Initial recognition and changes in fair value of biological assets and agricultural produce	0	0
Changes in net realizable value of agricultural produce after harvest	0	0
Margin on manufacturing and agricultural activities before operating expenses	0	0
General and administrative expenses	0	(4)
Selling expenses	0	0
Other operating (expense)/ income, net	6,613	7,920
Profit from operations	6,613	7,916
Depreciation and amortization	0	0
Net (loss) / gain from Fair value adjustment of investment property	0	0
Land Transformation | IAS 29 and IAS 21 adjustment
Disclosure of operating segments [line items]
Sales of goods and services rendered	0	0
Cost of goods sold and services rendered	0	0
Initial recognition and changes in fair value of biological assets and agricultural produce	0	0
Changes in net realizable value of agricultural produce after harvest	0	0
Margin on manufacturing and agricultural activities before operating expenses	0	0
General and administrative expenses	0	(4)
Selling expenses	0	0
Other operating (expense)/ income, net	0	(14)
Profit from operations	0	(18)
Depreciation and amortization	0	0
Net (loss) / gain from Fair value adjustment of investment property	0	0
Land Transformation | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	0	0	0
Cost of goods sold and services rendered	0	0	0
Initial recognition and changes in fair value of biological assets and agricultural produce	0	0	0
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	0	0	0
General and administrative expenses	0	0	0
Selling expenses	0	0	0
Other operating (expense)/ income, net	6,613	7,934	2,504
Profit from operations	6,613	7,934	2,504
Depreciation and amortization	0	0	0
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Corporate | IAS 29 and IAS 21 adjustment
Disclosure of operating segments [line items]
Sales of goods and services rendered	0	0	0
Cost of goods sold and services rendered	0	0	0
Initial recognition and changes in fair value of biological assets and agricultural produce	0	0	0
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	0	0	0
General and administrative expenses	(1,908)	336	428
Selling expenses	(21)	7	23
Other operating (expense)/ income, net	(21)	(8)	21
Profit from operations	(1,950)	335	472
Depreciation and amortization	(49)	14	3
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Corporate | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	0	0	0
Cost of goods sold and services rendered	0	0	0
Initial recognition and changes in fair value of biological assets and agricultural produce	0	0	0
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	0	0	0
General and administrative expenses	(22,119)	(19,319)	(19,319)
Selling expenses	(306)	(202)	(165)
Other operating (expense)/ income, net	103	(161)	(175)
Profit from operations	(22,322)	(19,682)	(19,659)
Depreciation and amortization	(738)	(876)	(20)
Net (loss) / gain from Fair value adjustment of investment property	0	0	0
Corporate | Corporate
Disclosure of operating segments [line items]
Sales of goods and services rendered	0	0	0
Cost of goods sold and services rendered	0	0	0
Initial recognition and changes in fair value of biological assets and agricultural produce	0	0	0
Changes in net realizable value of agricultural produce after harvest	0	0	0
Margin on manufacturing and agricultural activities before operating expenses	0	0	0
General and administrative expenses	(24,027)	(18,983)	(18,891)
Selling expenses	(327)	(195)	(142)
Other operating (expense)/ income, net	82	(169)	(154)
Profit from operations	(24,272)	(19,347)	(19,187)
Depreciation and amortization	(787)	(862)	(17)
Net (loss) / gain from Fair value adjustment of investment property	$ 0	$ 0	$ 0

Segment information - Segment A

Segment information - Segment Analysis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Disclosure of operating segments [line items]
Sales of goods and services rendered	$ 1,124,352	$ 817,764		$ 887,138
Cost of goods sold and services rendered	(854,965)	(611,946)		(671,173)
Initial recognition and changes in fair value of biological assets and agricultural produce	227,740	122,729		68,589
Changes in net realizable value of agricultural produce after harvest	(12,879)	7,005		1,825
Margin on manufacturing and agricultural activities before operating expenses	484,248	335,552		286,379
General and administrative expenses	(69,794)	(53,428)		(57,202)
Selling expenses	(117,662)	(95,058)		(106,972)
Other operating (expense)/ income, net	(18,768)	1,987		(822)
Profit from operations	278,024	189,053		121,383
Depreciation and amortization	(168,928)	(141,872)		(174,439)
Net (loss) / gain from Fair value adjustment of investment property	(4,331)	1,077		(325)
Reserve of the revaluation surplus derived from the disposals of assets		0	[1]	0	[2]
Right of use assets	260,776	209,694		238,053
Investment property	32,132	31,179		34,295
Biological assets	195,178	165,693		130,436
Finished goods	138,254	77,041		65,278		$ 79,758
Borrowings	817,651	971,090		968,280
Lease liabilities	246,854	195,772
Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	1,097,723	822,475		891,554
Cost of goods sold and services rendered	(834,062)	(615,775)		(675,187)
Initial recognition and changes in fair value of biological assets and agricultural produce	211,198	124,742		70,295
Changes in net realizable value of agricultural produce after harvest	(11,658)	7,076		1,542
Margin on manufacturing and agricultural activities before operating expenses	463,201	338,518		288,204
General and administrative expenses	(65,635)	(54,138)		(57,797)
Selling expenses	(112,847)	(95,866)		(107,628)
Other operating (expense)/ income, net	(18,118)	2,033		(1,137)
Profit from operations	266,601	190,547		121,642
Depreciation and amortization	(166,619)	(142,288)		(174,578)
Net (loss) / gain from Fair value adjustment of investment property	(3,884)	1,080		(927)
Reserve of the revaluation surplus derived from the disposals of assets		10,198
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)	4,855	32,975		1,720
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)	206,343	91,767		68,575
Changes in net realizable value of agricultural produce after harvest (unrealized)	(4,001)	(481)		(481)
Changes in net realizable value of agricultural produce after harvest (realized)	(7,657)	7,557		2,023
Farmlands and farmland improvements, net	727,840	715,751
Machinery, equipment and other fixed assets, net	318,433	279,972
Bearer plants, net	294,982	304,829
Work in progress	81,368	57,740
Right of use assets	260,776	209,694
Investment property	32,132	31,179
Goodwill	16,626	14,482
Biological assets	195,178	165,693
Finished goods	138,254	77,041
Raw materials, stocks held by third parties and others	101,270	56,420
Total segment assets	2,166,859	1,912,801
Borrowings	817,651	971,090
Lease liabilities	246,854	195,772
Total segment liabilities	1,064,505	1,166,862
Farming | Crops
Disclosure of operating segments [line items]
Sales of goods and services rendered	240,730	168,461		166,446
Cost of goods sold and services rendered	(213,231)	(149,250)		(156,510)
Initial recognition and changes in fair value of biological assets and agricultural produce	73,990	40,104		29,741
Changes in net realizable value of agricultural produce after harvest	(11,384)	7,007		1,825
Margin on manufacturing and agricultural activities before operating expenses	90,105	67,061		41,502
General and administrative expenses	(11,100)	(6,694)		(5,533)
Selling expenses	(23,419)	(17,998)		(12,724)
Other operating (expense)/ income, net	(3,723)	(12,853)		(2,508)
Profit from operations	51,863	29,516		20,737
Depreciation and amortization	(7,135)	(5,286)		(4,799)
Net (loss) / gain from Fair value adjustment of investment property	0	0		0
Biological assets	54,886	43,787		38,117
Farming | Rice
Disclosure of operating segments [line items]
Sales of goods and services rendered	134,869	101,862		101,156
Cost of goods sold and services rendered	(112,045)	(73,830)		(73,951)
Initial recognition and changes in fair value of biological assets and agricultural produce	43,834	18,677		12,215
Changes in net realizable value of agricultural produce after harvest	0	0		0
Margin on manufacturing and agricultural activities before operating expenses	66,658	46,709		39,420
General and administrative expenses	(9,760)	(6,899)		(6,605)
Selling expenses	(18,108)	(13,923)		(20,574)
Other operating (expense)/ income, net	285	713		267
Profit from operations	39,075	26,600		12,508
Depreciation and amortization	(8,894)	(6,505)		(6,823)
Net (loss) / gain from Fair value adjustment of investment property	0	0		0
Biological assets	42,729	29,062		21,484
Farming | Dairy
Disclosure of operating segments [line items]
Sales of goods and services rendered	183,054	133,474		83,822
Cost of goods sold and services rendered	(158,077)	(116,007)		(76,694)
Initial recognition and changes in fair value of biological assets and agricultural produce	19,895	12,344		13,510
Changes in net realizable value of agricultural produce after harvest	0	(2)		0
Margin on manufacturing and agricultural activities before operating expenses	44,872	29,809		20,638
General and administrative expenses	(5,256)	(4,788)		(4,098)
Selling expenses	(22,572)	(13,540)		(6,234)
Other operating (expense)/ income, net	(170)	(186)		(703)
Profit from operations	16,874	11,295		9,603
Depreciation and amortization	(7,941)	(6,568)		(4,966)
Net (loss) / gain from Fair value adjustment of investment property	0	0		0
Biological assets	18,979	12,933		11,521
Farming | All other segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	3,689	2,508		3,931
Cost of goods sold and services rendered	(3,111)	(1,962)		(3,452)
Initial recognition and changes in fair value of biological assets and agricultural produce	1,362	1,256		13
Changes in net realizable value of agricultural produce after harvest	0	0		0
Margin on manufacturing and agricultural activities before operating expenses	1,940	1,802		492
General and administrative expenses	(187)	(118)		(150)
Selling expenses	(290)	(214)		(182)
Other operating (expense)/ income, net	(4,465)	1,067		(354)
Profit from operations	(3,002)	2,537		(194)
Depreciation and amortization	(190)	(135)		(177)
Net (loss) / gain from Fair value adjustment of investment property	(4,331)	1,077		(325)
Biological assets	7,257	4,703		3,673
Farming | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	535,713	411,016		359,771
Cost of goods sold and services rendered	(465,561)	(344,878)		(314,621)
Initial recognition and changes in fair value of biological assets and agricultural produce	122,539	74,394		57,185
Changes in net realizable value of agricultural produce after harvest	(10,163)	7,076		1,542
Margin on manufacturing and agricultural activities before operating expenses	182,528	147,608		103,877
General and administrative expenses	(24,052)	(18,877)		(16,553)
Selling expenses	(59,595)	(46,476)		(40,347)
Other operating (expense)/ income, net	(7,444)	(11,235)		(3,592)
Profit from operations	91,437	71,020		43,385
Depreciation and amortization	(21,900)	(18,896)		(16,901)
Net (loss) / gain from Fair value adjustment of investment property	(3,884)	1,080		(927)
Reserve of the revaluation surplus derived from the disposals of assets		0
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)	21,149	13,293		2,571
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)	101,390	61,840		54,614
Changes in net realizable value of agricultural produce after harvest (unrealized)	(4,001)	(481)		(481)
Changes in net realizable value of agricultural produce after harvest (realized)	(6,162)	7,557		2,023
Farmlands and farmland improvements, net	653,861	651,686
Machinery, equipment and other fixed assets, net	159,822	126,482
Bearer plants, net	892	685
Work in progress	65,481	43,744
Right of use assets	17,296	8,035
Investment property	32,132	31,179
Goodwill	12,713	10,281
Biological assets	123,851	90,485
Finished goods	57,397	42,726
Raw materials, stocks held by third parties and others	68,045	34,107
Total segment assets	1,191,490	1,039,410
Borrowings	128,046	180,539
Lease liabilities	19,187	10,294
Total segment liabilities	147,233	190,833
Farming | Operating segments | Crops
Disclosure of operating segments [line items]
Sales of goods and services rendered	228,894	170,114		168,938
Cost of goods sold and services rendered	(203,148)	(150,745)		(159,197)
Initial recognition and changes in fair value of biological assets and agricultural produce	65,704	41,038		30,290
Changes in net realizable value of agricultural produce after harvest	(10,163)	7,078		1,542
Margin on manufacturing and agricultural activities before operating expenses	81,287	67,485		41,573
General and administrative expenses	(10,273)	(6,816)		(5,446)
Selling expenses	(21,925)	(18,265)		(12,852)
Other operating (expense)/ income, net	(3,538)	(12,846)		(2,283)
Profit from operations	45,551	29,558		20,992
Depreciation and amortization	(6,501)	(5,397)		(4,662)
Net (loss) / gain from Fair value adjustment of investment property	0	0		0
Reserve of the revaluation surplus derived from the disposals of assets		0
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)	14,399	12,211		6,091
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)	51,305	29,566		24,199
Changes in net realizable value of agricultural produce after harvest (unrealized)	(4,001)	(481)		(481)
Changes in net realizable value of agricultural produce after harvest (realized)	(6,162)	7,559		2,023
Farmlands and farmland improvements, net	448,608	454,212
Machinery, equipment and other fixed assets, net	47,122	39,517
Bearer plants, net	892	685
Work in progress	3,444	820
Right of use assets	13,005	4,275
Investment property	0	0
Goodwill	7,074	5,720
Biological assets	54,886	43,787
Finished goods	37,225	30,267
Raw materials, stocks held by third parties and others	42,253	21,893
Total segment assets	654,509	601,176
Borrowings	31,755	37,111
Lease liabilities	14,106	5,920
Total segment liabilities	45,861	43,031
Farming | Operating segments | Rice
Disclosure of operating segments [line items]
Sales of goods and services rendered	130,526	102,886		102,162
Cost of goods sold and services rendered	(109,709)	(74,395)		(74,480)
Initial recognition and changes in fair value of biological assets and agricultural produce	37,119	19,449		13,194
Changes in net realizable value of agricultural produce after harvest	0	0		0
Margin on manufacturing and agricultural activities before operating expenses	57,936	47,940		40,876
General and administrative expenses	(8,891)	(7,045)		(6,752)
Selling expenses	(16,618)	(14,170)		(21,072)
Other operating (expense)/ income, net	239	731		282
Profit from operations	32,666	27,456		13,334
Depreciation and amortization	(8,080)	(6,652)		(6,994)
Net (loss) / gain from Fair value adjustment of investment property	0	0		0
Reserve of the revaluation surplus derived from the disposals of assets		0
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)	4,117	3,975		509
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)	33,002	15,474		12,685
Changes in net realizable value of agricultural produce after harvest (unrealized)	0	0		0
Changes in net realizable value of agricultural produce after harvest (realized)	0	0		0
Farmlands and farmland improvements, net	146,795	141,661
Machinery, equipment and other fixed assets, net	29,543	18,567
Bearer plants, net	0	0
Work in progress	33,200	23,381
Right of use assets	3,361	2,472
Investment property	0	0
Goodwill	979	792
Biological assets	42,729	29,062
Finished goods	5,015	5,970
Raw materials, stocks held by third parties and others	14,797	4,519
Total segment assets	276,419	226,424
Borrowings	34,230	39,686
Lease liabilities	4,157	3,063
Total segment liabilities	38,387	42,749
Farming | Operating segments | Dairy
Disclosure of operating segments [line items]
Sales of goods and services rendered	172,803	135,471		84,767
Cost of goods sold and services rendered	(149,738)	(117,754)		(77,532)
Initial recognition and changes in fair value of biological assets and agricultural produce	18,336	12,638		13,741
Changes in net realizable value of agricultural produce after harvest	0	(2)		0
Margin on manufacturing and agricultural activities before operating expenses	41,401	30,353		20,976
General and administrative expenses	(4,715)	(4,896)		(4,188)
Selling expenses	(20,779)	(13,824)		(6,252)
Other operating (expense)/ income, net	(150)	(189)		(635)
Profit from operations	15,757	11,444		9,901
Depreciation and amortization	(7,144)	(6,709)		(5,064)
Net (loss) / gain from Fair value adjustment of investment property	0	0		0
Reserve of the revaluation surplus derived from the disposals of assets		0
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)	(6,271)	(5,151)		(3,957)
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)	24,607	17,789		17,698
Changes in net realizable value of agricultural produce after harvest (unrealized)	0	0		0
Changes in net realizable value of agricultural produce after harvest (realized)	0	(2)		0
Farmlands and farmland improvements, net	2,143	1,911
Machinery, equipment and other fixed assets, net	81,516	67,859
Bearer plants, net	0	0
Work in progress	27,341	18,365
Right of use assets	930	1,288
Investment property	0	0
Goodwill	4,660	3,769
Biological assets	18,979	12,933
Finished goods	15,157	6,489
Raw materials, stocks held by third parties and others	10,416	7,377
Total segment assets	161,142	119,991
Borrowings	62,061	103,742
Lease liabilities	924	1,311
Total segment liabilities	62,985	105,053
Farming | Operating segments | All other segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	3,490	2,545		3,904
Cost of goods sold and services rendered	(2,966)	(1,984)		(3,412)
Initial recognition and changes in fair value of biological assets and agricultural produce	1,380	1,269		(40)
Changes in net realizable value of agricultural produce after harvest	0	0		0
Margin on manufacturing and agricultural activities before operating expenses	1,904	1,830		452
General and administrative expenses	(173)	(120)		(167)
Selling expenses	(273)	(217)		(171)
Other operating (expense)/ income, net	(3,995)	1,069		(956)
Profit from operations	(2,537)	2,562		(842)
Depreciation and amortization	(175)	(138)		(181)
Net (loss) / gain from Fair value adjustment of investment property	(3,884)	1,080		(927)
Reserve of the revaluation surplus derived from the disposals of assets		0
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)	8,904	2,258		(72)
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)	(7,524)	(989)		32
Changes in net realizable value of agricultural produce after harvest (unrealized)	0	0		0
Changes in net realizable value of agricultural produce after harvest (realized)	0	0		0
Farmlands and farmland improvements, net	56,315	53,902
Machinery, equipment and other fixed assets, net	1,641	539
Bearer plants, net	0	0
Work in progress	1,496	1,178
Right of use assets	0	0
Investment property	32,132	31,179
Goodwill	0	0
Biological assets	7,257	4,703
Finished goods	0	0
Raw materials, stocks held by third parties and others	579	318
Total segment assets	99,420	91,819
Borrowings	0	0
Lease liabilities	0	0
Total segment liabilities	0	0
Sugar, Ethanol and Energy
Disclosure of operating segments [line items]
Cost of goods sold and services rendered	(368,501)	(270,897)		(360,566)
Biological assets	71,327	75,208		55,641
Finished goods	80,857	34,315		36,864		$ 39,937
Sugar, Ethanol and Energy | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	562,010	411,459		531,783
Cost of goods sold and services rendered	(368,501)	(270,897)		(360,566)
Initial recognition and changes in fair value of biological assets and agricultural produce	88,659	50,348		13,110
Changes in net realizable value of agricultural produce after harvest	(1,495)	0		0
Margin on manufacturing and agricultural activities before operating expenses	280,673	190,910		184,327
General and administrative expenses	(19,464)	(15,942)		(21,925)
Selling expenses	(52,946)	(49,188)		(67,116)
Other operating (expense)/ income, net	(17,390)	5,495		126
Profit from operations	190,873	131,275		95,412
Depreciation and amortization	(143,981)	(122,516)		(157,657)
Net (loss) / gain from Fair value adjustment of investment property	0	0		0
Reserve of the revaluation surplus derived from the disposals of assets		0
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)	(16,294)	19,682		(851)
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)	104,953	29,927		13,961
Changes in net realizable value of agricultural produce after harvest (unrealized)	0	0		0
Changes in net realizable value of agricultural produce after harvest (realized)	(1,495)	0		0
Farmlands and farmland improvements, net	73,979	64,065
Machinery, equipment and other fixed assets, net	158,611	153,490
Bearer plants, net	294,090	304,144
Work in progress	15,887	13,996
Right of use assets	243,469	201,365
Investment property	0	0
Goodwill	3,913	4,201
Biological assets	71,327	75,208
Finished goods	80,857	34,315
Raw materials, stocks held by third parties and others	33,225	22,313
Total segment assets	975,358	873,097
Borrowings	524,461	632,985
Lease liabilities	227,585	185,155
Total segment liabilities	752,046	818,140
Land Transformation
Disclosure of operating segments [line items]
Sales of goods and services rendered	0	0
Cost of goods sold and services rendered	0	0
Initial recognition and changes in fair value of biological assets and agricultural produce	0	0
Changes in net realizable value of agricultural produce after harvest	0	0
Margin on manufacturing and agricultural activities before operating expenses	0	0
General and administrative expenses	0	(4)
Selling expenses	0	0
Other operating (expense)/ income, net	6,613	7,920
Profit from operations	6,613	7,916
Depreciation and amortization	0	0
Net (loss) / gain from Fair value adjustment of investment property	0	0
Land Transformation | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	0	0		0
Cost of goods sold and services rendered	0	0		0
Initial recognition and changes in fair value of biological assets and agricultural produce	0	0		0
Changes in net realizable value of agricultural produce after harvest	0	0		0
Margin on manufacturing and agricultural activities before operating expenses	0	0		0
General and administrative expenses	0	0		0
Selling expenses	0	0		0
Other operating (expense)/ income, net	6,613	7,934		2,504
Profit from operations	6,613	7,934		2,504
Depreciation and amortization	0	0		0
Net (loss) / gain from Fair value adjustment of investment property	0	0		0
Reserve of the revaluation surplus derived from the disposals of assets		10,198
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)	0	0		0
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)	0	0		0
Changes in net realizable value of agricultural produce after harvest (unrealized)	0	0		0
Changes in net realizable value of agricultural produce after harvest (realized)	0	0		0
Farmlands and farmland improvements, net	0	0
Machinery, equipment and other fixed assets, net	0	0
Bearer plants, net	0	0
Work in progress	0	0
Right of use assets	0	0
Investment property	0	0
Goodwill	0	0
Biological assets	0	0
Finished goods	0	0
Raw materials, stocks held by third parties and others	0	0
Total segment assets	0	0
Borrowings	0	0
Lease liabilities	0	0
Total segment liabilities	0	0
Corporate | Operating segments
Disclosure of operating segments [line items]
Sales of goods and services rendered	0	0		0
Cost of goods sold and services rendered	0	0		0
Initial recognition and changes in fair value of biological assets and agricultural produce	0	0		0
Changes in net realizable value of agricultural produce after harvest	0	0		0
Margin on manufacturing and agricultural activities before operating expenses	0	0		0
General and administrative expenses	(22,119)	(19,319)		(19,319)
Selling expenses	(306)	(202)		(165)
Other operating (expense)/ income, net	103	(161)		(175)
Profit from operations	(22,322)	(19,682)		(19,659)
Depreciation and amortization	(738)	(876)		(20)
Net (loss) / gain from Fair value adjustment of investment property	0	0		0
Reserve of the revaluation surplus derived from the disposals of assets		0
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)	0	0		0
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)	0	0		0
Changes in net realizable value of agricultural produce after harvest (unrealized)	0	0		0
Changes in net realizable value of agricultural produce after harvest (realized)	0	0		$ 0
Farmlands and farmland improvements, net	0	0
Machinery, equipment and other fixed assets, net	0	0
Bearer plants, net	0	0
Work in progress	0	0
Right of use assets	11	294
Investment property	0	0
Goodwill	0	0
Biological assets	0	0
Finished goods	0	0
Raw materials, stocks held by third parties and others	0	0
Total segment assets	11	294
Borrowings	165,144	157,566
Lease liabilities	82	323
Total segment liabilities	$ 165,226	$ 157,889
[1]	Net of 3,458 of Income tax
[2]	Net of 2,978 of Income tax

Segment information - Assets an

Segment information - Assets and Liabilities Reconciliation (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Deferred income tax assets	$ 10,321	$ 19,821
Trade and other receivables	188,080	197,928
Cash and cash equivalents	199,766	336,282	$ 290,276	$ 273,635
TOTAL ASSETS	2,582,401	2,482,236
LIABILITIES
Trade and other payables	169,030	126,605
Deferred income tax liabilities	265,848	182,377
Payroll and social liabilities	26,294	24,408
Provisions for other liabilities	5,986	4,359	$ 3,172
Current income tax liabilities	6,866	7,037
TOTAL LIABILITIES	1,534,571	1,518,512
Operating segments
ASSETS
Total reportable assets as per segment information	2,166,859	1,912,801
Intangible assets (excluding goodwill)	14,711	12,448
Deferred income tax assets	10,321	19,821
Trade and other receivables	188,080	197,928
Other assets	1,079	854
Derivative financial instruments	1,585	2,102
Cash and cash equivalents	199,766	336,282
LIABILITIES
Total reportable liabilities as per segment information	1,064,505	1,166,862
Trade and other payables	169,030	126,605
Deferred income tax liabilities	265,848	182,377
Payroll and social liabilities	26,294	24,408
Provisions for other liabilities	5,986	4,359
Current income tax liabilities	1,625	760
Derivative financial instruments	$ 1,283	$ 13,141

Segment information - Non-Curre

Segment information - Non-Current Assets, Net Revenue and Fair Value Gains (Losses) by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of geographical areas [line items]
Property, plant and equipment	$ 1,422,623	$ 1,358,292	$ 1,493,220
Investment property	32,132	31,179	34,295
Biological assets	19,355	14,725
Sales of goods and services rendered	1,124,352	817,764	887,138
Initial recognition and changes in fair value of biological assets and agricultural produce	227,740	122,729	68,589
Changes in net realizable value of agricultural produce after harvest	(12,879)	7,005	1,825
Operating segments
Disclosure of geographical areas [line items]
Property, plant and equipment	1,422,623	1,358,292
Investment property	32,132	31,179
Goodwill	16,626	14,482
Biological assets	19,355	14,725
Sales of goods and services rendered	1,097,723	822,475	891,554
Initial recognition and changes in fair value of biological assets and agricultural produce	211,198	124,742	70,295
Changes in net realizable value of agricultural produce after harvest	(11,658)	7,076	1,542
Operating segments | Argentina
Disclosure of geographical areas [line items]
Property, plant and equipment	868,527	811,653
Investment property	32,132	31,179
Goodwill	12,713	10,280
Biological assets	19,355	14,725
Sales of goods and services rendered	284,026	389,018	229,547
Initial recognition and changes in fair value of biological assets and agricultural produce	120,255	72,391	55,760
Changes in net realizable value of agricultural produce after harvest	(9,679)	6,770	2,682
Operating segments | Brazil
Disclosure of geographical areas [line items]
Property, plant and equipment	542,710	535,857
Investment property	0	0
Goodwill	3,913	4,202
Biological assets	0	0
Sales of goods and services rendered	385,959	411,779	462,174
Initial recognition and changes in fair value of biological assets and agricultural produce	88,659	50,348	13,167
Changes in net realizable value of agricultural produce after harvest	(1,496)	(88)	(8)
Operating segments | Uruguay
Disclosure of geographical areas [line items]
Property, plant and equipment	11,386	10,782
Investment property	0	0
Goodwill	0	0
Biological assets	0	0
Sales of goods and services rendered	427,661	21,678	199,833
Initial recognition and changes in fair value of biological assets and agricultural produce	2,284	2,003	1,368
Changes in net realizable value of agricultural produce after harvest	(483)	$ 394	$ (1,132)
Operating segments | Others
Disclosure of geographical areas [line items]
Property, plant and equipment	0
Investment property	0
Goodwill	0
Biological assets	0
Sales of goods and services rendered	77
Initial recognition and changes in fair value of biological assets and agricultural produce	0
Changes in net realizable value of agricultural produce after harvest	$ 0

Sales - Total Sales (Details)

Sales - Total Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of products and services [line items]
Total sales	$ 1,124,352	$ 817,764	$ 887,138
Soybean
Disclosure of products and services [line items]
Total sales	71,687	44,271	44,538
Corn
Disclosure of products and services [line items]
Total sales	59,803	44,475	59,714
Wheat
Disclosure of products and services [line items]
Total sales	27,349	14,457	18,733
Sunflower
Disclosure of products and services [line items]
Total sales	6,167	633	701
Barley
Disclosure of products and services [line items]
Total sales	1,684	275	1,085
Seeds
Disclosure of products and services [line items]
Total sales	1,559	1,732	734
Milk
Disclosure of products and services [line items]
Total sales	16,468	12,817	9,977
Cattle
Disclosure of products and services [line items]
Total sales	3,111	1,959	3,452
Cattle for dairy
Disclosure of products and services [line items]
Total sales	4,994	2,729	2,169
Others
Disclosure of products and services [line items]
Total sales	3,498	2,923	1,398
Agricultural produce and biological assets
Disclosure of products and services [line items]
Total sales	196,320	126,271	142,501
Ethanol
Disclosure of products and services [line items]
Total sales	291,883	199,062	373,847
Sugar
Disclosure of products and services [line items]
Total sales	208,365	171,102	97,710
Energy
Disclosure of products and services [line items]
Total sales	50,321	42,756	60,913
Peanut
Disclosure of products and services [line items]
Total sales	60,939	46,708	28,928
Sunflower
Disclosure of products and services [line items]
Total sales	11,282	10,433	7,534
Cotton
Disclosure of products and services [line items]
Total sales	2,540	1,969	623
Rice
Disclosure of products and services [line items]
Total sales	127,272	96,397	97,515
Fluid milk (UHT)
Disclosure of products and services [line items]
Total sales	62,875	54,380	38,441
Powder milk
Disclosure of products and services [line items]
Total sales	62,728	40,500	20,722
Other diary products
Disclosure of products and services [line items]
Total sales	28,834	17,205	8,856
Services
Disclosure of products and services [line items]
Total sales	7,309	4,774	4,521
Rental income
Disclosure of products and services [line items]
Total sales	615	584	564
Others
Disclosure of products and services [line items]
Total sales	13,069	5,623	4,463
Manufactured products and services rendered
Disclosure of products and services [line items]
Total sales	928,032	691,493	744,637
Manufactured products and services rendered | Agricultural produce and biological assets
Disclosure of products and services [line items]
Total sales	$ 1,124,352	$ 817,764	$ 887,138

Sales - Narrative (Details)

Sales - Narrative (Details) - Forward contract m³ in Thousands, T in Thousands, MWh in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)m³MWhT	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of disaggregation of revenue from contracts with customers [line items]
Contract assets	$ 75,900	$ 42,200	$ 71,700
Soybean
Disclosure of disaggregation of revenue from contracts with customers [line items]
Contract assets	$ 19,600
Derivative notional amount | T	56,491
Wheat
Disclosure of disaggregation of revenue from contracts with customers [line items]
Contract assets	$ 6,950
Derivative notional amount | T	28,903
Corn
Disclosure of disaggregation of revenue from contracts with customers [line items]
Contract assets	$ 19,930
Derivative notional amount | T	103,594
Ethanol
Disclosure of disaggregation of revenue from contracts with customers [line items]
Contract assets	$ 1,980
Cubic meters of product | m³	2,497
Energy
Disclosure of disaggregation of revenue from contracts with customers [line items]
Contract assets	$ 24,220
MWh of energy | MWh	483,984

Cost of goods sold and servic_3

Cost of goods sold and services rendered - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cost of Goods Sold and Services Rendered [Roll Forward]
Finished goods at beginning of period	$ 77,041	$ 65,278	$ 79,758
Cost of production of manufactured products	944,841	660,627	688,327
Purchases	32,309	9,736	69,387
Agricultural produce	255,311	154,712	124,330
Transfer to raw material	(80,308)	(50,448)	(35,757)
Direct agricultural selling expenses	22,642	16,467	15,752
Tax recoveries	(19,423)	(21,765)	(32,995)
Changes in net realizable value of agricultural produce after harvest	(12,879)	7,005	1,825
Ethanol production costs recovery	(3,669)
Loss of idle productive capacity	14,270
Finished goods at end of period	(138,254)	(77,041)	(65,278)
Exchange differences	(49,460)	(4,139)	(10,002)
Cost of goods sold and services rendered, and direct agricultural selling expenses	854,965	611,946	671,173
Sugar, Ethanol and Energy
Cost of Goods Sold and Services Rendered [Roll Forward]
Finished goods at beginning of period	34,315	36,864	39,937
Purchases	4,860	6,088	44,577
Agricultural produce	10,944	0	0
Transfer to raw material	0	0	0
Direct agricultural selling expenses	0	0	0
Tax recoveries	(19,423)	(21,765)	(32,995)
Changes in net realizable value of agricultural produce after harvest	(1,495)	0	0
Ethanol production costs recovery	(3,669)
Loss of idle productive capacity	14,270
Finished goods at end of period	(80,857)	(34,315)	(36,864)
Exchange differences	(5,852)	(1,602)	(9,053)
Cost of goods sold and services rendered, and direct agricultural selling expenses	368,501	270,897	360,566
Crops | Farming
Cost of Goods Sold and Services Rendered [Roll Forward]
Finished goods at beginning of period	30,267	17,830	29,144
Purchases	26,880	3,648	21,715
Agricultural produce	224,788	137,204	108,732
Transfer to raw material	(73,068)	(46,192)	(35,757)
Direct agricultural selling expenses	22,642	16,467	15,752
Tax recoveries	0	0	0
Changes in net realizable value of agricultural produce after harvest	(11,384)	7,007	1,825
Ethanol production costs recovery	0
Loss of idle productive capacity	0
Finished goods at end of period	(37,225)	(30,267)	(17,830)
Exchange differences	(29,259)	(521)	(1,023)
Cost of goods sold and services rendered, and direct agricultural selling expenses	213,231	149,250	156,510
Rice | Farming
Cost of Goods Sold and Services Rendered [Roll Forward]
Finished goods at beginning of period	5,970	5,805	9,507
Purchases	569	0	3,095
Agricultural produce	0	0	0
Transfer to raw material	(7,240)	(4,256)	0
Direct agricultural selling expenses	0	0	0
Tax recoveries	0	0	0
Changes in net realizable value of agricultural produce after harvest	0	0	0
Ethanol production costs recovery	0
Loss of idle productive capacity	0
Finished goods at end of period	(5,015)	(5,970)	(5,805)
Exchange differences	(6,543)	(1,256)	768
Cost of goods sold and services rendered, and direct agricultural selling expenses	112,045	73,830	73,951
Dairy | Farming
Cost of Goods Sold and Services Rendered [Roll Forward]
Finished goods at beginning of period	6,489	4,779	1,170
Purchases	0	0	0
Agricultural produce	16,468	15,546	12,146
Transfer to raw material	0	0	0
Direct agricultural selling expenses	0	0	0
Tax recoveries	0	0	0
Changes in net realizable value of agricultural produce after harvest	0	(2)	0
Ethanol production costs recovery	0
Loss of idle productive capacity	0
Finished goods at end of period	(15,157)	(6,489)	(4,779)
Exchange differences	(7,806)	(760)	(694)
Cost of goods sold and services rendered, and direct agricultural selling expenses	158,077	116,007	76,694
All other segments | Farming
Cost of Goods Sold and Services Rendered [Roll Forward]
Finished goods at beginning of period	0	0	0
Purchases	0	0	0
Agricultural produce	3,111	1,962	3,452
Transfer to raw material	0	0	0
Direct agricultural selling expenses	0	0	0
Tax recoveries	0	0	0
Changes in net realizable value of agricultural produce after harvest	0	0	0
Ethanol production costs recovery	0
Loss of idle productive capacity	0
Finished goods at end of period	0	0	0
Exchange differences	0	0	0
Cost of goods sold and services rendered, and direct agricultural selling expenses	3,111	1,962	3,452
Cost of production of manufactured products
Cost of Goods Sold and Services Rendered [Roll Forward]
Cost of production of manufactured products	757,385	512,141	524,153
Cost of production of manufactured products | Sugar, Ethanol and Energy
Cost of Goods Sold and Services Rendered [Roll Forward]
Cost of production of manufactured products	415,408	285,627	354,964
Cost of production of manufactured products | Crops | Farming
Cost of Goods Sold and Services Rendered [Roll Forward]
Cost of production of manufactured products	59,590	44,074	33,952
Cost of production of manufactured products | Rice | Farming
Cost of Goods Sold and Services Rendered [Roll Forward]
Cost of production of manufactured products	124,304	79,507	66,386
Cost of production of manufactured products | Dairy | Farming
Cost of Goods Sold and Services Rendered [Roll Forward]
Cost of production of manufactured products	158,083	102,933	68,851
Cost of production of manufactured products | All other segments | Farming
Cost of Goods Sold and Services Rendered [Roll Forward]
Cost of production of manufactured products	$ 0	$ 0	$ 0

Expenses by nature - Summary (D

Expenses by nature - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Expenses [Line Items]
Salaries, social security expenses and employee benefits	$ 84,780	$ 71,332	$ 84,501
Raw materials and consumables	38,742	26,749	32,675
Depreciation and amortization	134,505	114,443	140,723
Depreciation of right of use assets	13,626	10,269	9,266
Fertilizers, agrochemicals and seeds			0
Fuel, lubricants and others	28,035	19,387	27,940
Maintenance and repairs	24,524	17,283	24,378
Freights	50,752	40,257	28,424
Export taxes / selling taxes	43,509	35,966	52,312
Export expenses	11,745	8,801	5,552
Contractors and services	9,840	6,614	10,610
Energy transmission	2,347	2,231	3,145
Feeeding expenses			0
Veterinary expenses			0
Energy power	6,580	4,712	5,153
Professional fees	9,409	7,938	9,499
Other taxes	3,926	2,902	2,514
Contingencies	855	703	459
Lease expense and similar arrangements	2,852	939	1,288
Third parties raw materials	83,633	65,433	42,139
Tax recoveries	(1,546)	(1,087)	(396)
Others	24,831	14,701	21,330
Subtotal	572,945	449,573	501,512
Own agricultural produce consumed	371,896	211,054	186,815
Total	944,841	660,627	688,327
Cost of production of manufactured products
Disclosure of Expenses [Line Items]
Total	757,385	512,141	524,153
Cost of production of manufactured products | Farming | Crops
Disclosure of Expenses [Line Items]
Total	59,590	44,074	33,952
Cost of production of manufactured products | Farming | Rice
Disclosure of Expenses [Line Items]
Total	124,304	79,507	66,386
Cost of production of manufactured products | Farming | Dairy
Disclosure of Expenses [Line Items]
Total	158,083	102,933	68,851
Cost of production of manufactured products | Sugar, Ethanol and Energy
Disclosure of Expenses [Line Items]
Total	415,408	285,627	354,964
General and Administrative Expenses
Disclosure of Expenses [Line Items]
Salaries, social security expenses and employee benefits	30,727	25,519	27,492
Raw materials and consumables	0	0	0
Depreciation and amortization	14,280	12,490	11,212
Depreciation of right of use assets	7,173	3,557	2,007
Fertilizers, agrochemicals and seeds			0
Fuel, lubricants and others	854	428	593
Maintenance and repairs	1,956	954	1,755
Freights	0	0	0
Export taxes / selling taxes	0	0	0
Export expenses	0	0	0
Contractors and services	0	0	0
Energy transmission	0	0	88
Feeeding expenses			0
Veterinary expenses			0
Energy power	335	137	145
Professional fees	7,600	6,261	8,065
Other taxes	582	376	1,089
Contingencies	855	703	459
Lease expense and similar arrangements	1,863	283	831
Third parties raw materials	0	0	0
Tax recoveries	0	0	0
Others	3,569	2,720	3,466
Subtotal	69,794	53,428	57,202
Own agricultural produce consumed	0	0	0
Total	69,794	53,428	57,202
Selling Expenses
Disclosure of Expenses [Line Items]
Salaries, social security expenses and employee benefits	7,221	5,206	6,211
Raw materials and consumables	0	0	0
Depreciation and amortization	1,304	985	868
Depreciation of right of use assets	49	24	5
Fertilizers, agrochemicals and seeds			0
Fuel, lubricants and others	279	187	225
Maintenance and repairs	800	476	534
Freights	38,970	33,111	23,130
Export taxes / selling taxes	43,509	35,966	52,312
Export expenses	11,745	8,801	5,552
Contractors and services	0	0	0
Energy transmission	2,347	2,231	3,057
Feeeding expenses			0
Veterinary expenses			0
Energy power	85	114	145
Professional fees	815	1,060	1,047
Other taxes	62	21	28
Contingencies	0	0	0
Lease expense and similar arrangements	251	226	125
Third parties raw materials	0	0	0
Tax recoveries	0	0	0
Others	10,225	6,650	13,733
Subtotal	117,662	95,058	106,972
Own agricultural produce consumed	0	0	0
Total	117,662	95,058	106,972
Operating segments | Cost of production of manufactured products
Disclosure of Expenses [Line Items]
Salaries, social security expenses and employee benefits	46,832	40,607	50,798
Raw materials and consumables	38,742	26,749	32,675
Depreciation and amortization	118,921	100,968	128,643
Depreciation of right of use assets	6,404	6,688	7,254
Fertilizers, agrochemicals and seeds			0
Fuel, lubricants and others	26,902	18,772	27,122
Maintenance and repairs	21,768	15,853	22,089
Freights	11,782	7,146	5,294
Export taxes / selling taxes	0	0	0
Export expenses	0	0	0
Contractors and services	9,840	6,614	10,610
Energy transmission	0	0	0
Feeeding expenses			0
Veterinary expenses			0
Energy power	6,160	4,461	4,863
Professional fees	994	617	387
Other taxes	3,282	2,505	1,397
Contingencies	0	0	0
Lease expense and similar arrangements	738	430	332
Third parties raw materials	83,633	65,433	42,139
Tax recoveries	(1,546)	(1,087)	(396)
Others	11,037	5,331	4,131
Subtotal	385,489	301,087	337,338
Own agricultural produce consumed	371,896	211,054	186,815
Total	757,385	512,141	524,153
Operating segments | Cost of production of manufactured products | Farming | Crops
Disclosure of Expenses [Line Items]
Salaries, social security expenses and employee benefits	3,651	2,348	1,880
Raw materials and consumables	578	448	314
Depreciation and amortization	3,930	2,929	2,581
Depreciation of right of use assets	0	0	0
Fertilizers, agrochemicals and seeds			0
Fuel, lubricants and others	336	131	228
Maintenance and repairs	1,341	639	290
Freights	644	172	146
Export taxes / selling taxes	0	0	0
Export expenses	0	0	0
Contractors and services	2,587	1,358	1,051
Energy transmission	0	0	0
Feeeding expenses			0
Veterinary expenses			0
Energy power	1,276	803	725
Professional fees	78	32	20
Other taxes	23	20	1
Contingencies	0	0	0
Lease expense and similar arrangements	162	111	83
Third parties raw materials	2,804	3,257	7,136
Tax recoveries	0	0	0
Others	962	524	431
Subtotal	18,372	12,772	14,886
Own agricultural produce consumed	41,218	31,302	19,066
Total	59,590	44,074	33,952
Operating segments | Cost of production of manufactured products | Farming | Rice
Disclosure of Expenses [Line Items]
Salaries, social security expenses and employee benefits	6,841	4,466	4,738
Raw materials and consumables	373	3,072	6,527
Depreciation and amortization	2,692	2,016	1,897
Depreciation of right of use assets	102	19	116
Fertilizers, agrochemicals and seeds			0
Fuel, lubricants and others	89	68	83
Maintenance and repairs	1,851	1,492	1,120
Freights	8,154	4,617	2,405
Export taxes / selling taxes	0	0	0
Export expenses	0	0	0
Contractors and services	235	116	138
Energy transmission	0	0	0
Feeeding expenses			0
Veterinary expenses			0
Energy power	1,501	1,015	1,298
Professional fees	84	35	65
Other taxes	92	76	74
Contingencies	0	0	0
Lease expense and similar arrangements	319	182	171
Third parties raw materials	2,852	6,578	5,629
Tax recoveries	0	0	0
Others	5,273	1,219	695
Subtotal	30,458	24,971	24,956
Own agricultural produce consumed	93,846	54,536	41,430
Total	124,304	79,507	66,386
Operating segments | Cost of production of manufactured products | Farming | Dairy
Disclosure of Expenses [Line Items]
Salaries, social security expenses and employee benefits	9,268	7,452	4,412
Raw materials and consumables	24,755	14,486	10,151
Depreciation and amortization	3,590	2,812	2,140
Depreciation of right of use assets	602	461	344
Fertilizers, agrochemicals and seeds			0
Fuel, lubricants and others	1,730	2,030	1,381
Maintenance and repairs	1,779	1,141	985
Freights	2,377	1,708	1,959
Export taxes / selling taxes	0	0	0
Export expenses	0	0	0
Contractors and services	260	54	40
Energy transmission	0	0	0
Feeeding expenses			0
Veterinary expenses			0
Energy power	2,544	1,879	1,659
Professional fees	140	103	127
Other taxes	118	97	81
Contingencies	0	0	0
Lease expense and similar arrangements	257	137	78
Third parties raw materials	62,737	42,051	18,131
Tax recoveries	0	0	0
Others	2,166	1,975	681
Subtotal	112,323	76,386	42,169
Own agricultural produce consumed	45,760	26,547	26,682
Total	158,083	102,933	68,851
Operating segments | Cost of production of manufactured products | Farming | All other segments
Disclosure of Expenses [Line Items]
Salaries, social security expenses and employee benefits	0	0	0
Raw materials and consumables	0	0	0
Depreciation and amortization	0	0	0
Depreciation of right of use assets	0	0	0
Fertilizers, agrochemicals and seeds			0
Fuel, lubricants and others	0	0	0
Maintenance and repairs	0	0	0
Freights	0	0	0
Export taxes / selling taxes	0	0	0
Export expenses	0	0	0
Contractors and services	0	0	0
Energy transmission	0	0	0
Feeeding expenses			0
Veterinary expenses			0
Energy power	0	0	0
Professional fees	0	0	0
Other taxes	0	0	0
Contingencies	0	0	0
Lease expense and similar arrangements	0	0	0
Third parties raw materials	0	0	0
Tax recoveries	0	0	0
Others	0	0	0
Subtotal	0	0	0
Own agricultural produce consumed	0	0	0
Total	0	0	0
Operating segments | Cost of production of manufactured products | Sugar, Ethanol and Energy
Disclosure of Expenses [Line Items]
Salaries, social security expenses and employee benefits	27,072	26,341	39,768
Raw materials and consumables	13,036	8,743	15,683
Depreciation and amortization	108,709	93,211	122,025
Depreciation of right of use assets	5,700	6,208	6,794
Fertilizers, agrochemicals and seeds			0
Fuel, lubricants and others	24,747	16,543	25,430
Maintenance and repairs	16,797	12,581	19,694
Freights	607	649	784
Export taxes / selling taxes	0	0	0
Export expenses	0	0	0
Contractors and services	6,758	5,086	9,381
Energy transmission	0	0	0
Feeeding expenses			0
Veterinary expenses			0
Energy power	839	764	1,181
Professional fees	692	447	175
Other taxes	3,049	2,312	1,241
Contingencies	0	0	0
Lease expense and similar arrangements	0	0	0
Third parties raw materials	15,240	13,547	11,243
Tax recoveries	(1,546)	(1,087)	(396)
Others	2,636	1,613	2,324
Subtotal	224,336	186,958	255,327
Own agricultural produce consumed	191,072	98,669	99,637
Total	$ 415,408	$ 285,627	$ 354,964

Salaries and social security _3

Salaries and social security expenses - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Salaries and social security expenses [abstract]
Wages and salaries	$ 101,818	$ 89,662	$ 104,400
Social security costs	30,296	27,430	30,888
Equity-settled share-based compensation	6,406	4,316	4,734
Salaries and social security expenses	138,520	121,408	140,022
Wages and salaries capitalized in property, plant and equipment	$ 25,105	$ 32,714	$ 32,636

Other operating (expense) _ i_3

Other operating (expense) / income, net - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Analysis of income and expense [abstract]
Gain from disposal of farmland and other assets	$ 0	$ 2,064	$ 1,354
Loss from the sale of subsidiaries	10	(554)	0
Loss from commodity derivative financial instrument	(15,990)	(8,320)	(618)
(Loss) / gain from disposal of other property items	(397)	2,198	(329)
Net (loss) / gain from fair value adjustment of investment property	(4,331)	1,077	(325)
Others	1,940	5,522	(904)
Other operating income, net	$ (18,768)	$ 1,987	$ (822)

Financial results, net - Summar

Financial results, net - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finance income:
Interest income	$ 4,081	$ 4,084	$ 7,319
Foreign exchange gain	18,939	0	0
Gain from interest rate/foreign exchange rate derivative financial instruments	512	92	1,189
Other income	13,138	21,878	1,400
Finance income	36,670	26,054	9,908
Finance costs:
Interest expense	(62,536)	(58,282)	(60,134)
Finance cost related to lease liabilities	(16,502)	(12,532)	(9,524)
Cash flow hedge - transfer from equity	(52,650)	(24,363)	(15,594)
Foreign exchange losses, net	0	(109,266)	(108,458)
Taxes	(7,073)	(4,559)	(4,364)
Borrowings prepayment related expenses (Brazilian subsidiaries)	(3,068)	0	0
Finance discount	(3,741)	0	0
Other expenses	(6,111)	(4,774)	(4,492)
Finance costs	(151,681)	(213,776)	(202,566)
Other financial results - Net gain of inflation effects on the monetary items	11,541	12,064	92,437
Financial results, net	$ (103,470)	$ (175,658)	$ (100,221)

Taxation - Provision for Consol

Taxation - Provision for Consolidated Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Current income tax	$ (4,338)	$ (2,840)	$ 666
Deferred income tax	(39,499)	(9,485)	(21,486)
Income tax expense	$ (43,837)	$ (12,325)	$ (20,820)

Taxation - Statutory Tax Rate (

Taxation - Statutory Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021
Argentina
Disclosure Of Income Tax Jurisdiction [Line Items]
Applicable tax rate	30.00%
Argentina | Years 2018 - 2020
Disclosure Of Income Tax Jurisdiction [Line Items]
Applicable tax rate	30.00%
Applicable dividend tax rate	7.00%
Argentina | From years 2021 onwards
Disclosure Of Income Tax Jurisdiction [Line Items]
Applicable tax rate	25.00%
Applicable dividend tax rate	13.00%
Brazil
Disclosure Of Income Tax Jurisdiction [Line Items]
Applicable tax rate	34.00%
Uruguay
Disclosure Of Income Tax Jurisdiction [Line Items]
Applicable tax rate	25.00%
Spain
Disclosure Of Income Tax Jurisdiction [Line Items]
Applicable tax rate	25.00%
Luxembourg
Disclosure Of Income Tax Jurisdiction [Line Items]
Applicable tax rate	24.94%

Taxation - Deferred Tax Assets

Taxation - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred income tax assets	$ 10,321	$ 19,821
Deferred income tax liabilities	(265,848)	(182,377)
Deferred tax liability (asset)	(255,527)	(162,556)	$ (151,844)
Deferred tax assets temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred income tax assets	124,350	129,168	144,267
Deferred tax liability temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred income tax liabilities	(379,877)	(291,724)	$ (296,111)
Recovered after more than 12 months | Deferred tax assets temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred income tax assets	102,374	105,424
Recovered after more than 12 months | Deferred tax liability temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred income tax liabilities	(362,114)	(278,035)
Recovered within 12 months | Deferred tax assets temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred income tax assets	21,976	23,744
Recovered within 12 months | Deferred tax liability temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred income tax liabilities	$ (17,763)	$ (13,689)

Taxation - Gross Movement on th

Taxation - Gross Movement on the Deferred Income Tax Account (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset), beginning balance	$ (162,556)	$ (151,844)
Exchange differences	(40,644)	1,536
Changes of fair value valuation for farmlands	(9,953)	(11,790)	$ (10,480)
Disposal of subsidiary	0	3,458
Others	(349)	(159)
Tax credit relating to cash flow hedge	(2,526)	5,728
Income tax benefit expense	(39,499)	(9,485)	(21,486)
Deferred tax liability (asset), ending balance	(255,527)	(162,556)	$ (151,844)
Gains (losses) before income tax of cash flow hedge	46,145	75,822
Reclassification from equity to income statement	$ (26,031)	$ (32,305)

Taxation - Movement of Deferred

Taxation - Movement of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in deferred tax liability [abstract]
Deferred income tax liabilities, beginning balance	$ 182,377
Exchange differences	(40,644)	$ 1,536
Deferred income tax liabilities, ending balance	265,848	182,377
Changes in deferred tax asset [Abstract]
Deferred income tax assets, beginning balance	19,821
Others	(349)	(159)
Tax credit relating to cash flow hedge	2,526	(5,728)
Exchange differences	(40,644)	1,536
Deferred income tax assets, ending balance	10,321	19,821
Deferred tax liability temporary differences
Changes in deferred tax liability [abstract]
Deferred income tax liabilities, beginning balance	291,724	296,111
Charged/(credited) to the statement of income	39,887	16,116
Effect of adoption of fair value valuation for farmlands	9,953	11,790
Disposals of subsidiaries	0	(3,513)
Exchange differences	(38,313)	28,780
Deferred income tax liabilities, ending balance	379,877	291,724
Changes in deferred tax asset [Abstract]
Charged/(credited) to the statement of income	39,887	16,116
Exchange differences	(38,313)	28,780
Deferred tax assets temporary differences
Changes in deferred tax liability [abstract]
Charged/(credited) to the statement of income	388	6,631
Exchange differences	(2,331)	(27,244)
Changes in deferred tax asset [Abstract]
Deferred income tax assets, beginning balance	129,168	144,267
Charged/(credited) to the statement of income	388	6,631
Acquisition of subsidiaries		(55)
Others	(349)	(159)
Tax credit relating to cash flow hedge	(2,526)	5,728
Exchange differences	(2,331)	(27,244)
Deferred income tax assets, ending balance	124,350	129,168
Provisions | Deferred tax assets temporary differences
Changes in deferred tax liability [abstract]
Charged/(credited) to the statement of income	1,978	4,941
Exchange differences	20	(1,152)
Changes in deferred tax asset [Abstract]
Deferred income tax assets, beginning balance	7,026	3,237
Charged/(credited) to the statement of income	1,978	4,941
Acquisition of subsidiaries		0
Others	0	0
Tax credit relating to cash flow hedge	0	0
Exchange differences	20	(1,152)
Deferred income tax assets, ending balance	9,024	7,026
Tax loss carry forwards | Deferred tax assets temporary differences
Changes in deferred tax liability [abstract]
Charged/(credited) to the statement of income	13,108	(5,843)
Exchange differences	3,158	(20,363)
Changes in deferred tax asset [Abstract]
Deferred income tax assets, beginning balance	70,941	91,419
Charged/(credited) to the statement of income	13,108	(5,843)
Acquisition of subsidiaries		0
Others	0	0
Tax credit relating to cash flow hedge	(2,526)	5,728
Exchange differences	3,158	(20,363)
Deferred income tax assets, ending balance	84,681	70,941
Equity-settled share-based compensation | Deferred tax assets temporary differences
Changes in deferred tax liability [abstract]
Charged/(credited) to the statement of income	0	(835)
Exchange differences	0	0
Changes in deferred tax asset [Abstract]
Deferred income tax assets, beginning balance	2,488	3,383
Charged/(credited) to the statement of income	0	(835)
Acquisition of subsidiaries		0
Others	(349)	(60)
Tax credit relating to cash flow hedge	0	0
Exchange differences	0	0
Deferred income tax assets, ending balance	2,139	2,488
Borrowings | Deferred tax assets temporary differences
Changes in deferred tax liability [abstract]
Charged/(credited) to the statement of income	(13,589)	34,017
Exchange differences	(2,952)	(9,460)
Changes in deferred tax asset [Abstract]
Deferred income tax assets, beginning balance	26,105	1,548
Charged/(credited) to the statement of income	(13,589)	34,017
Acquisition of subsidiaries		0
Others	0	0
Tax credit relating to cash flow hedge	0	0
Exchange differences	(2,952)	(9,460)
Deferred income tax assets, ending balance	9,564	26,105
Biological assets | Deferred tax assets temporary differences
Changes in deferred tax liability [abstract]
Charged/(credited) to the statement of income	452	(4,508)
Exchange differences	(386)	0
Changes in deferred tax asset [Abstract]
Deferred income tax assets, beginning balance	0	4,508
Charged/(credited) to the statement of income	452	(4,508)
Acquisition of subsidiaries		0
Others	0	0
Tax credit relating to cash flow hedge	0	0
Exchange differences	(386)	0
Deferred income tax assets, ending balance	66	0
Others | Deferred tax assets temporary differences
Changes in deferred tax liability [abstract]
Charged/(credited) to the statement of income	(1,561)	(21,141)
Exchange differences	(2,171)	3,731
Changes in deferred tax asset [Abstract]
Deferred income tax assets, beginning balance	22,608	40,172
Charged/(credited) to the statement of income	(1,561)	(21,141)
Acquisition of subsidiaries		(55)
Others	0	(99)
Tax credit relating to cash flow hedge	0	0
Exchange differences	(2,171)	3,731
Deferred income tax assets, ending balance	18,876	22,608
Property, plant and equipment | Deferred tax liability temporary differences
Changes in deferred tax liability [abstract]
Deferred income tax liabilities, beginning balance	271,528	280,859
Charged/(credited) to the statement of income	43,270	11,581
Effect of adoption of fair value valuation for farmlands	11,469	11,521
Disposals of subsidiaries	0	(3,513)
Exchange differences	(32,167)	28,920
Deferred income tax liabilities, ending balance	358,434	271,528
Changes in deferred tax asset [Abstract]
Charged/(credited) to the statement of income	43,270	11,581
Exchange differences	(32,167)	28,920
Investment property
Changes in deferred tax liability [abstract]
Deferred income tax liabilities, beginning balance	9,878
Deferred income tax liabilities, ending balance		9,878
Investment property | Deferred tax liability temporary differences
Changes in deferred tax liability [abstract]
Deferred income tax liabilities, beginning balance		11,907
Charged/(credited) to the statement of income	(817)	(1,928)
Effect of adoption of fair value valuation for farmlands	(1,516)	269
Disposals of subsidiaries	0	0
Exchange differences	(2,336)	370
Deferred income tax liabilities, ending balance	9,881
Changes in deferred tax asset [Abstract]
Charged/(credited) to the statement of income	(817)	(1,928)
Exchange differences	(2,336)	370
Biological assets | Deferred tax liability temporary differences
Changes in deferred tax liability [abstract]
Deferred income tax liabilities, beginning balance	11,152	4,179
Charged/(credited) to the statement of income	(755)	6,463
Effect of adoption of fair value valuation for farmlands	0	0
Disposals of subsidiaries	0	0
Exchange differences	(1,797)	(510)
Deferred income tax liabilities, ending balance	12,194	11,152
Changes in deferred tax asset [Abstract]
Charged/(credited) to the statement of income	(755)	6,463
Exchange differences	(1,797)	(510)
Others | Deferred tax liability temporary differences
Changes in deferred tax liability [abstract]
Deferred income tax liabilities, beginning balance	834	834
Charged/(credited) to the statement of income	(1,811)	0
Effect of adoption of fair value valuation for farmlands	0	0
Disposals of subsidiaries	0	0
Exchange differences	(2,013)	0
Deferred income tax liabilities, ending balance	632	834
Changes in deferred tax asset [Abstract]
Charged/(credited) to the statement of income	(1,811)	0
Exchange differences	$ (2,013)	$ 0

Taxation - Narrative (Details)

Taxation - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Disclosure Of Income Tax Jurisdiction [Line Items]
Deferred tax asset, inflation adjustment	$ 37,175
Argentina
Disclosure Of Income Tax Jurisdiction [Line Items]
Operating loss carryforwards, expiration period	5 years
Brazil
Disclosure Of Income Tax Jurisdiction [Line Items]
Proportion of taxable profit that can be reduced by operating loss carryforwards (maximum) (as a percent)	30.00%

Taxation - Tax Loss Carryforwar

Taxation - Tax Loss Carryforwards and Corresponding Jurisdictions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Argentina
Disclosure Of Income Tax Jurisdiction [Line Items]
Tax loss carry forward	$ 119,385
Expiration period	5 years
Argentina | 2018
Disclosure Of Income Tax Jurisdiction [Line Items]
Tax loss carry forward	$ 20,543
Argentina | 2019
Disclosure Of Income Tax Jurisdiction [Line Items]
Tax loss carry forward	82,262
Argentina | 2020
Disclosure Of Income Tax Jurisdiction [Line Items]
Tax loss carry forward	16,580
Brazil
Disclosure Of Income Tax Jurisdiction [Line Items]
Tax loss carry forward	114,479
Uruguay
Disclosure Of Income Tax Jurisdiction [Line Items]
Tax loss carry forward	$ 2,458
Expiration period	5 years
Luxembourg
Disclosure Of Income Tax Jurisdiction [Line Items]
Tax loss carry forward	$ 28,263

Taxation - Differences from The

Taxation - Differences from Theoretical Amount that would Arise from Using the Weighted-Average Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Tax calculated at the tax rates applicable to profits in the respective countries	$ (54,291)	$ (4,184)	$ (7,250)
Non-deductible items	(3,459)	(7,642)	(1,511)
Effect of the changes in the statutory income tax rate in Argentina	(31,962)	6,324	3,115
Unused tax losses	482	(710)	(3,742)
Non-taxable income	13,604	11,060	11,545
Previously unrecognized tax losses now recouped to reduce tax expenses	38,121	1,529	1,910
Effect of IAS 29 and tax adjustment per inflation in Argentina	(6,402)	(19,239)	(23,805)
Others	70	537	(1,082)
Income tax expense	$ (43,837)	$ (12,325)	$ (20,820)

Earnings per share - Basic Earn

Earnings per share - Basic Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings per share [abstract]
Profit / (loss) from operations attributable to equity holders of the Group	$ 130,669	$ 412	$ (772)
Weighted average number of shares in issue (shares)	115,148	117,453	117,252
Basic earnings / (loss) per share from operations (USD per share)	$ 1.135	$ 0.003	$ (0.007)

Earnings per share - Narrative

Earnings per share - Narrative (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2021categoryshares	Dec. 31, 2020shares	Dec. 31, 2019shares
Earnings per share [abstract]
Number of categories of dilutive potential shares | category	2
Antidilutive securities (shares) | shares	466	261	645

Earnings per share - Diluted Ea

Earnings per share - Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings per share [abstract]
Profit / (loss) from operations attributable to equity holders of the Group	$ 130,669	$ 412	$ (772)
Weighted average number of shares in issue (shares)	115,148	117,453	117,252
Adjustments for:
Employee share options and restricted units (shares)	466	261	645
Weighted average number of shares for diluted earnings per share (shares)	115,614	117,714	117,897
Diluted (loss) / earnings per share from operations (USD per share)	$ 1.130	$ 0.003	$ (0.007)

Property, plant and equipment -

Property, plant and equipment - Changes in Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in property, plant and equipment [abstract]
Opening net book amount	$ 1,358,292	$ 1,493,220
Exchange differences	156,714	(181,077)
Additions	204,829	169,290
Revaluation surplus	(126,675)	41,490
Reclassification from investment property	1,380	3,127
Transfers	0	0
Disposals	(4,317)	(13,320)
Disposals of subsidiaries		(13,496)
Reclassification to non-income tax credits	(303)	(363)
Depreciation	(167,297)	(140,579)
Closing net book amount	1,422,623	1,358,292
Cost
Changes in property, plant and equipment [abstract]
Opening net book amount	2,620,999	2,615,348
Closing net book amount	2,852,627	2,620,999
Accumulated amortization
Changes in property, plant and equipment [abstract]
Opening net book amount	(1,262,707)	(1,122,128)
Closing net book amount	(1,430,004)	(1,262,707)
Farmlands
Changes in property, plant and equipment [abstract]
Opening net book amount	694,166	709,585
Exchange differences	142,390	(36,422)
Additions	0	0
Revaluation surplus	(126,675)	41,490
Reclassification from investment property	1,380	3,127
Transfers	0	0
Disposals	0	(10,118)
Disposals of subsidiaries		(13,496)
Reclassification to non-income tax credits	0	0
Depreciation	0	0
Closing net book amount	711,261	694,166
Farmlands | Cost
Changes in property, plant and equipment [abstract]
Opening net book amount	694,166	709,585
Closing net book amount	711,261	694,166
Farmlands | Accumulated amortization
Changes in property, plant and equipment [abstract]
Opening net book amount	0	0
Closing net book amount	0	0
Farmland improvements
Changes in property, plant and equipment [abstract]
Opening net book amount	21,585	25,280
Exchange differences	2,772	(432)
Additions	169	0
Revaluation surplus	0	0
Reclassification from investment property	0	0
Transfers	(4,773)	(177)
Disposals	(8)	0
Disposals of subsidiaries		0
Reclassification to non-income tax credits	0	0
Depreciation	(3,166)	(3,086)
Closing net book amount	16,579	21,585
Farmland improvements | Cost
Changes in property, plant and equipment [abstract]
Opening net book amount	44,278	44,887
Closing net book amount	42,438	44,278
Farmland improvements | Accumulated amortization
Changes in property, plant and equipment [abstract]
Opening net book amount	(22,693)	(19,607)
Closing net book amount	(25,859)	(22,693)
Buildings and   facilities
Changes in property, plant and equipment [abstract]
Opening net book amount	177,604	232,720
Exchange differences	20,923	(55,368)
Additions	11,681	11,279
Revaluation surplus	0	0
Reclassification from investment property	0	0
Transfers	23,049	10,101
Disposals	(126)	(73)
Disposals of subsidiaries		0
Reclassification to non-income tax credits	0	0
Depreciation	(25,452)	(21,055)
Closing net book amount	207,679	177,604
Buildings and   facilities | Cost
Changes in property, plant and equipment [abstract]
Opening net book amount	379,666	413,727
Closing net book amount	435,193	379,666
Buildings and   facilities | Accumulated amortization
Changes in property, plant and equipment [abstract]
Opening net book amount	(202,062)	(181,007)
Closing net book amount	(227,514)	(202,062)
Machinery,   equipment,   furniture and fittings
Changes in property, plant and equipment [abstract]
Opening net book amount	95,905	206,273
Exchange differences	(4,804)	(112,657)
Additions	55,463	52,350
Revaluation surplus	0	0
Reclassification from investment property	0	0
Transfers	13,471	16,182
Disposals	(4,078)	(3,092)
Disposals of subsidiaries		0
Reclassification to non-income tax credits	(303)	(363)
Depreciation	(72,471)	(62,788)
Closing net book amount	83,183	95,905
Machinery,   equipment,   furniture and fittings | Cost
Changes in property, plant and equipment [abstract]
Opening net book amount	743,444	791,024
Closing net book amount	803,193	743,444
Machinery,   equipment,   furniture and fittings | Accumulated amortization
Changes in property, plant and equipment [abstract]
Opening net book amount	(647,539)	(584,751)
Closing net book amount	(720,010)	(647,539)
Bearer plants
Changes in property, plant and equipment [abstract]
Opening net book amount	304,829	253,520
Exchange differences	(34,433)	30,864
Additions	88,530	72,592
Revaluation surplus	0	0
Reclassification from investment property	0	0
Transfers	149	0
Disposals	0	0
Disposals of subsidiaries		0
Reclassification to non-income tax credits	0	0
Depreciation	(64,093)	(52,147)
Closing net book amount	294,982	304,829
Bearer plants | Cost
Changes in property, plant and equipment [abstract]
Opening net book amount	676,516	573,060
Closing net book amount	730,762	676,516
Bearer plants | Accumulated amortization
Changes in property, plant and equipment [abstract]
Opening net book amount	(371,687)	(319,540)
Closing net book amount	(435,780)	(371,687)
Others
Changes in property, plant and equipment [abstract]
Opening net book amount	6,463	6,684
Exchange differences	20,567	(617)
Additions	2,615	1,877
Revaluation surplus	0	0
Reclassification from investment property	0	0
Transfers	104	59
Disposals	(63)	(37)
Disposals of subsidiaries		0
Reclassification to non-income tax credits	0	0
Depreciation	(2,115)	(1,503)
Closing net book amount	27,571	6,463
Others | Cost
Changes in property, plant and equipment [abstract]
Opening net book amount	25,189	23,907
Closing net book amount	48,412	25,189
Others | Accumulated amortization
Changes in property, plant and equipment [abstract]
Opening net book amount	(18,726)	(17,223)
Closing net book amount	(20,841)	(18,726)
Work in   progress
Changes in property, plant and equipment [abstract]
Opening net book amount	57,740	59,158
Exchange differences	9,299	(6,445)
Additions	46,371	31,192
Revaluation surplus	0	0
Reclassification from investment property	0	0
Transfers	(32,000)	(26,165)
Disposals	(42)	0
Disposals of subsidiaries		0
Reclassification to non-income tax credits	0	0
Depreciation	0	0
Closing net book amount	81,368	57,740
Work in   progress | Cost
Changes in property, plant and equipment [abstract]
Opening net book amount	57,740	59,158
Closing net book amount	81,368	57,740
Work in   progress | Accumulated amortization
Changes in property, plant and equipment [abstract]
Opening net book amount	0	0
Closing net book amount	$ 0	$ 0

Property, plant and equipment_2

Property, plant and equipment - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2021
Farmland improvements | Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	5 years
Farmland improvements | Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	25 years
Buildings and   facilities
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	20 years
Furniture and fittings
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	10 years
Computer equipment | Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	3 years
Computer equipment | Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	5 years
Machinery and equipment | Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	4 years
Machinery and equipment | Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	10 years
Vehicles | Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	4 years
Vehicles | Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	5 years
Bearer plants
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	6 years

Property, plant and equipment_3

Property, plant and equipment - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 1,422,623	$ 1,358,292	$ 1,493,220
Reduction on sales price (in percentage)	0.10
Borrowing costs capitalized	$ 2,831	3,861
Net book value of pledged assets	124,554	451,904
Farmlands
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	711,261	694,166	$ 709,585
Property, plant and equipment, cost	194,000
Farmlands | IAS 16
Disclosure of detailed information about property, plant and equipment [line items]
Increase (decrease) in property, plant and equipment	$ (71,000)	$ (69,000)

Right of use assets - Summary (

Right of use assets - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of quantitative information about right-of-use assets [line items]
Opening net book amount	$ 209,694	$ 238,053
Exchange differences	(10,246)	(51,155)
Additions and re-measurements	110,527	63,616
Depreciation of right of use assets	(49,199)	(40,820)	$ (45,168)
Closing net book amount	260,776	209,694	238,053
Agricultural Partnerships
Disclosure of quantitative information about right-of-use assets [line items]
Opening net book amount	192,270	219,837
Exchange differences	(10,191)	(47,186)
Additions and re-measurements	95,030	53,149
Depreciation of right of use assets	(41,138)	(33,530)
Closing net book amount	235,971	192,270	219,837
Others
Disclosure of quantitative information about right-of-use assets [line items]
Opening net book amount	17,424	18,216
Exchange differences	(55)	(3,969)
Additions and re-measurements	15,497	10,467
Depreciation of right of use assets	(8,061)	(7,290)
Closing net book amount	$ 24,805	$ 17,424	$ 18,216

Right of use assets - Narrative

Right of use assets - Narrative (Details)	12 Months Ended
	Dec. 31, 2021
Rights of Use [Abstract]
Average duration of agricultural partnership	6 years

Investment property - Summary (

Investment property - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about investment property [line items]
Investment property, beginning of period	$ 31,179	$ 34,295
Net gain / (loss) from fair value adjustment (Note 8)	(4,331)	1,077
Reclassification to property, plant and equipment	(1,380)	(3,127)
Exchange difference	6,664	(1,066)
Investment property, end of period	32,132	31,179
Cost
Disclosure of detailed information about investment property [line items]
Investment property, beginning of period	31,179
Investment property, end of period	32,132	31,179
Fair value
Disclosure of detailed information about investment property [line items]
Investment property, beginning of period	31,179
Investment property, end of period	$ 32,132	$ 31,179

Investment property - Narrative

Investment property - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about investment property [line items]
Investment property	$ 32,132	$ 31,179	$ 34,295
Fair value
Disclosure of detailed information about investment property [line items]
Investment property	32,132	31,179
Level 3 | Fair value
Disclosure of detailed information about investment property [line items]
Decrease in investment property	$ 3,200	$ 3,100

Intangible assets - Summary (De

Intangible assets - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	$ 26,930
Intangible assets at end of period	31,337	$ 26,930
Goodwill
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	14,482	20,020
Exchange differences	2,144	(1,687)
Additions	0	0
Disposal		0
Disposal of subsidiary		(3,851)
Amortization charge	0	0
Intangible assets at end of period	16,626	14,482
Goodwill | Cost
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	14,482	20,020
Intangible assets at end of period	16,626	14,482
Goodwill | Accumulated amortization
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	0	0
Intangible assets at end of period	0	0
Software
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	5,264	6,261
Exchange differences	595	(954)
Additions	1,823	823
Disposal		(46)
Disposal of subsidiary		0
Amortization charge	(1,197)	(820)
Intangible assets at end of period	6,485	5,264
Software | Cost
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	11,799	11,976
Intangible assets at end of period	14,217	11,799
Software | Accumulated amortization
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	(6,535)	(5,715)
Intangible assets at end of period	(7,732)	(6,535)
Trademarks
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	7,150	7,316
Exchange differences	1,407	(80)
Additions	0	326
Disposal		0
Disposal of subsidiary		0
Amortization charge	(366)	(412)
Intangible assets at end of period	8,191	7,150
Trademarks | Cost
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	9,118	8,872
Intangible assets at end of period	10,525	9,118
Trademarks | Accumulated amortization
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	(1,968)	(1,556)
Intangible assets at end of period	(2,334)	(1,968)
Others
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	34	82
Exchange differences	(4)	(35)
Additions	73	94
Disposal		(46)
Disposal of subsidiary		0
Amortization charge	(68)	(61)
Intangible assets at end of period	35	34
Others | Cost
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	441	428
Intangible assets at end of period	510	441
Others | Accumulated amortization
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	(407)	(346)
Intangible assets at end of period	(475)	(407)
Intangible assets
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	26,930	33,679
Exchange differences	4,142	(2,756)
Additions	1,896	1,243
Disposal		(92)
Disposal of subsidiary		(3,851)
Amortization charge	(1,631)	(1,293)
Intangible assets at end of period	31,337	26,930
Intangible assets | Cost
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	35,840	41,296
Intangible assets at end of period	41,878	35,840
Intangible assets | Accumulated amortization
Activity of Intangible Assets [Roll Forward]
Intangible assets at beginning of period	(8,910)	(7,617)
Intangible assets at end of period	$ (10,541)	$ (8,910)

Biological assets - Changes in

Biological assets - Changes in Biological Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in biological assets [abstract]
Biological assets	$ 165,693	$ 130,436
Increase due to purchases	1,559	580
Initial recognition and changes in fair value of biological assets	227,740	122,729
Decrease due to harvest / disposals	(604,032)	(336,245)
Costs incurred during the year	383,865	263,371
Exchange differences	20,353	(15,178)
Biological assets	195,178	165,693
Initial recognition and changes in fair value of biological assets, price changes	966	2,414
Initial recognition and changes in fair value of biological assets, physical changes	12,634	1,843
Dairy and cattle
Changes in biological assets [abstract]
Initial recognition and changes in fair value of biological assets	13,600	4,257
Sugarcane
Changes in biological assets [abstract]
Biological assets	75,208	55,641
Increase due to purchases	0	0
Initial recognition and changes in fair value of biological assets	88,659	50,348
Decrease due to harvest / disposals	(208,175)	(103,010)
Costs incurred during the year	116,252	85,006
Exchange differences	(617)	(12,777)
Biological assets	71,327	75,208
Crops | Farming
Changes in biological assets [abstract]
Biological assets	43,787	38,117
Increase due to purchases	0	0
Initial recognition and changes in fair value of biological assets	73,990	40,104
Decrease due to harvest / disposals	(224,788)	(136,161)
Costs incurred during the year	151,971	103,076
Exchange differences	9,926	(1,349)
Biological assets	54,886	43,787
Rice | Farming
Changes in biological assets [abstract]
Biological assets	29,062	21,484
Increase due to purchases	0	0
Initial recognition and changes in fair value of biological assets	43,834	18,677
Decrease due to harvest / disposals	(99,517)	(51,673)
Costs incurred during the year	62,477	41,243
Exchange differences	6,873	(669)
Biological assets	42,729	29,062
Dairy | Farming
Changes in biological assets [abstract]
Biological assets	12,933	11,521
Increase due to purchases	0	0
Initial recognition and changes in fair value of biological assets	19,895	12,344
Decrease due to harvest / disposals	(67,230)	(42,641)
Costs incurred during the year	50,323	32,043
Exchange differences	3,058	(334)
Biological assets	18,979	12,933
All other segments | Farming
Changes in biological assets [abstract]
Biological assets	4,703	3,673
Increase due to purchases	1,559	580
Initial recognition and changes in fair value of biological assets	1,362	1,256
Decrease due to harvest / disposals	(4,322)	(2,760)
Costs incurred during the year	2,842	2,003
Exchange differences	1,113	(49)
Biological assets	$ 7,257	$ 4,703

Biological assets - Cost of Pro

Biological assets - Cost of Production (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	$ 369,033	$ 254,823
Own agricultural produce consumed	14,832	8,548
Costs incurred during the year	383,865	263,371
Salaries, social security expenses and employee benefits
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	28,635	22,532
Depreciation and amortization
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	4,288	3,892
Depreciation of right of use assets
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	34,312	27,862
Fertilizers, agrochemicals and seeds
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	115,825	85,487
Fuel, lubricants and others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	5,855	4,108
Maintenance and repairs
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	14,248	9,461
Freights
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	4,957	2,452
Contractors and services
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	79,897	51,470
Feeding expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	20,907	13,377
Veterinary expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	3,702	2,584
Energy power
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	4,800	3,058
Professional fees
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	1,135	2,912
Other taxes
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	1,617	1,427
Lease expense and similar arrangements
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	43,149	20,812
Others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	5,706	3,389
Farming | Crops
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	151,971	103,076
Own agricultural produce consumed	0	0
Costs incurred during the year	151,971	103,076
Farming | Crops | Salaries, social security expenses and employee benefits
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	3,622	2,662
Farming | Crops | Depreciation and amortization
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Crops | Depreciation of right of use assets
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Crops | Fertilizers, agrochemicals and seeds
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	55,223	43,446
Farming | Crops | Fuel, lubricants and others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	691	672
Farming | Crops | Maintenance and repairs
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	1,021	1,018
Farming | Crops | Freights
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	3,752	1,832
Farming | Crops | Contractors and services
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	49,213	30,170
Farming | Crops | Feeding expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Crops | Veterinary expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Crops | Energy power
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	36	51
Farming | Crops | Professional fees
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	430	564
Farming | Crops | Other taxes
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	1,339	1,185
Farming | Crops | Lease expense and similar arrangements
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	34,122	19,693
Farming | Crops | Others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	2,522	1,783
Farming | Rice
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	62,477	41,243
Own agricultural produce consumed	0	0
Costs incurred during the year	62,477	41,243
Farming | Rice | Salaries, social security expenses and employee benefits
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	8,554	5,822
Farming | Rice | Depreciation and amortization
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Rice | Depreciation of right of use assets
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Rice | Fertilizers, agrochemicals and seeds
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	15,549	9,655
Farming | Rice | Fuel, lubricants and others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	745	534
Farming | Rice | Maintenance and repairs
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	7,489	4,451
Farming | Rice | Freights
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	950	453
Farming | Rice | Contractors and services
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	23,602	15,681
Farming | Rice | Feeding expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Rice | Veterinary expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Rice | Energy power
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	3,666	2,138
Farming | Rice | Professional fees
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	187	1,838
Farming | Rice | Other taxes
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	118	100
Farming | Rice | Lease expense and similar arrangements
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	109
Farming | Rice | Others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	1,617	462
Farming | Dairy
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	36,312	23,900
Own agricultural produce consumed	14,011	8,143
Costs incurred during the year	50,323	32,043
Farming | Dairy | Salaries, social security expenses and employee benefits
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	5,978	4,215
Farming | Dairy | Depreciation and amortization
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Dairy | Depreciation of right of use assets
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Dairy | Fertilizers, agrochemicals and seeds
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	10
Farming | Dairy | Fuel, lubricants and others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	1,061	754
Farming | Dairy | Maintenance and repairs
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	3,106	1,820
Farming | Dairy | Freights
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	179	118
Farming | Dairy | Contractors and services
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | Dairy | Feeding expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	20,534	13,092
Farming | Dairy | Veterinary expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	3,485	2,395
Farming | Dairy | Energy power
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	1,092	863
Farming | Dairy | Professional fees
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	104	162
Farming | Dairy | Other taxes
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	10	8
Farming | Dairy | Lease expense and similar arrangements
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	1	3
Farming | Dairy | Others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	762	460
Farming | All other segments
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	2,021	1,598
Own agricultural produce consumed	821	405
Costs incurred during the year	2,842	2,003
Farming | All other segments | Salaries, social security expenses and employee benefits
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	800	672
Farming | All other segments | Depreciation and amortization
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | All other segments | Depreciation of right of use assets
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | All other segments | Fertilizers, agrochemicals and seeds
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Farming | All other segments | Fuel, lubricants and others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	60	51
Farming | All other segments | Maintenance and repairs
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	345	229
Farming | All other segments | Freights
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	76	49
Farming | All other segments | Contractors and services
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	10	19
Farming | All other segments | Feeding expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	373	285
Farming | All other segments | Veterinary expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	217	189
Farming | All other segments | Energy power
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	6	6
Farming | All other segments | Professional fees
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	6	4
Farming | All other segments | Other taxes
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	97	83
Farming | All other segments | Lease expense and similar arrangements
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	2	2
Farming | All other segments | Others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	29	9
Sugar, Ethanol and Energy
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	116,252	85,006
Own agricultural produce consumed	0	0
Costs incurred during the year	116,252	85,006
Sugar, Ethanol and Energy | Salaries, social security expenses and employee benefits
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	9,681	9,161
Sugar, Ethanol and Energy | Depreciation and amortization
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	4,288	3,892
Sugar, Ethanol and Energy | Depreciation of right of use assets
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	34,312	27,862
Sugar, Ethanol and Energy | Fertilizers, agrochemicals and seeds
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	45,053	32,376
Sugar, Ethanol and Energy | Fuel, lubricants and others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	3,298	2,097
Sugar, Ethanol and Energy | Maintenance and repairs
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	2,287	1,943
Sugar, Ethanol and Energy | Freights
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Sugar, Ethanol and Energy | Contractors and services
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	7,072	5,600
Sugar, Ethanol and Energy | Feeding expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Sugar, Ethanol and Energy | Veterinary expenses
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Sugar, Ethanol and Energy | Energy power
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	0	0
Sugar, Ethanol and Energy | Professional fees
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	408	344
Sugar, Ethanol and Energy | Other taxes
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	53	51
Sugar, Ethanol and Energy | Lease expense and similar arrangements
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	9,024	1,005
Sugar, Ethanol and Energy | Others
Disclosure of reconciliation of changes in biological assets [line items]
Costs incurred during the year, excluding own produce consumed	$ 776	$ 675

Biological assets - Non-Current

Biological assets - Non-Current and Current Biological Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about biological assets [line items]
Non-current biological assets	$ 19,355	$ 14,725
Current biological assets	175,823	150,968
Biological assets	195,178	165,693	$ 130,436
Cattle for dairy production
Disclosure of detailed information about biological assets [line items]
Biological assets	18,428	12,600
Cattle for dairy production | Mature biological assets
Disclosure of detailed information about biological assets [line items]
Non-current biological assets	18,428	12,600
Breeding cattle
Disclosure of detailed information about biological assets [line items]
Biological assets	7,037	4,581
Breeding cattle | Mature biological assets
Disclosure of detailed information about biological assets [line items]
Non-current biological assets	707	2,003
Current biological assets	6,330	2,578
Other cattle
Disclosure of detailed information about biological assets [line items]
Biological assets	771	455
Other cattle | Mature biological assets
Disclosure of detailed information about biological assets [line items]
Current biological assets	551	333
Other cattle | Immature biological assets
Disclosure of detailed information about biological assets [line items]
Non-current biological assets	220	122
Sown land – crops
Disclosure of detailed information about biological assets [line items]
Biological assets	54,886	43,787
Sown land – crops | Immature biological assets
Disclosure of detailed information about biological assets [line items]
Current biological assets	54,886	43,787
Sown land – rice
Disclosure of detailed information about biological assets [line items]
Biological assets	42,729	29,062
Sown land – rice | Immature biological assets
Disclosure of detailed information about biological assets [line items]
Current biological assets	42,729	29,062
Sown land – sugarcane
Disclosure of detailed information about biological assets [line items]
Biological assets	71,327	75,208
Sown land – sugarcane | Immature biological assets
Disclosure of detailed information about biological assets [line items]
Current biological assets	71,327	75,208
Crops planted in sugarcane farms | Immature biological assets
Disclosure of detailed information about biological assets [line items]
Current biological assets	$ 6,969	$ 3,702

Biological assets - Narrative (

Biological assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about biological assets [line items]
Biological assets	$ 532,480	$ 290,844
Percentage of reasonably possible increase in estimated costs	10.00%	10.00%
Percentage of reasonably possible decrease in estimated costs	10.00%	10.00%
Sown land – sugarcane
Disclosure of detailed information about biological assets [line items]
Increase in fair value measurement due to change in one or more unobservable inputs to reflect reasonably possible alternative assumptions, assets	$ 14,800	$ 14,700
Decrease in fair value measurement due to change in one or more unobservable inputs to reflect reasonably possible alternative assumptions, assets	14,800	14,700
Sown land – crops
Disclosure of detailed information about biological assets [line items]
Increase in fair value measurement due to change in one or more unobservable inputs to reflect reasonably possible alternative assumptions, assets	5,400	3,700
Decrease in fair value measurement due to change in one or more unobservable inputs to reflect reasonably possible alternative assumptions, assets	5,400	3,700
Sown land – rice
Disclosure of detailed information about biological assets [line items]
Increase in fair value measurement due to change in one or more unobservable inputs to reflect reasonably possible alternative assumptions, assets	4,900	3,700
Decrease in fair value measurement due to change in one or more unobservable inputs to reflect reasonably possible alternative assumptions, assets	$ 4,900	$ 3,700

Biological assets - Biological

Biological assets - Biological Assets Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of fair value measurement of assets [line items]
Biological assets	$ 195,178	$ 165,693	$ 130,436
Cattle for dairy production
Disclosure of fair value measurement of assets [line items]
Biological assets	18,428	12,600
Cattle for dairy production | Level 1
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Cattle for dairy production | Level 2
Disclosure of fair value measurement of assets [line items]
Biological assets	18,428	12,600
Cattle for dairy production | Level 3
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Breeding cattle
Disclosure of fair value measurement of assets [line items]
Biological assets	7,037	4,581
Breeding cattle | Level 1
Disclosure of fair value measurement of assets [line items]
Biological assets	7,037	4,581
Breeding cattle | Level 2
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Breeding cattle | Level 3
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Other cattle
Disclosure of fair value measurement of assets [line items]
Biological assets	771	455
Other cattle | Level 1
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Other cattle | Level 2
Disclosure of fair value measurement of assets [line items]
Biological assets	771	455
Other cattle | Level 3
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Sown land – sugarcane
Disclosure of fair value measurement of assets [line items]
Biological assets	71,327	75,208
Sown land – sugarcane | Level 1
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Sown land – sugarcane | Level 2
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Sown land – sugarcane | Level 3
Disclosure of fair value measurement of assets [line items]
Biological assets	71,327	75,208
Sown land – crops
Disclosure of fair value measurement of assets [line items]
Biological assets	54,886	43,787
Sown land – crops | Level 1
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Sown land – crops | Level 2
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Sown land – crops | Level 3
Disclosure of fair value measurement of assets [line items]
Biological assets	54,886	43,787
Sown land – rice
Disclosure of fair value measurement of assets [line items]
Biological assets	42,729	29,062
Sown land – rice | Level 1
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Sown land – rice | Level 2
Disclosure of fair value measurement of assets [line items]
Biological assets	0	0
Sown land – rice | Level 3
Disclosure of fair value measurement of assets [line items]
Biological assets	$ 42,729	$ 29,062

Biological assets - Significant

Biological assets - Significant Unobservable Inputs (Details)	12 Months Ended
	Dec. 31, 2021uSDollarPerHectaretonPerHectareuSDollarPerTonOfCanekilogramOfSugarPerTonOfCane	Dec. 31, 2020tonPerHectarekilogramOfSugarPerTonOfCaneuSDollarPerHectareuSDollarPerTonOfCane
Bottom of range | Sown land – sugarcane
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	50	60
TRS value | kilogramOfSugarPerTonOfCane	120	120
Maintenance costs	500	400
Harvest costs | uSDollarPerTonOfCane	6	6
Leasing costs | tonPerHectare	12	12
Bottom of range | Sown land – crops, sunflower
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	1.7	0.6
Commercial costs	18	1
Production costs	308	233
Bottom of range | Sown land – crops, wheat
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	0.85	0.95
Commercial costs	17	6
Production costs	166	115
Bottom of range | Sown land – crops, soybean
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	1.1	0.8
Commercial costs	19	7
Production costs	214	159
Bottom of range | Sown land - crops, peanut
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	2.5	2.5
Commercial costs	36	22
Production costs	802	695
Bottom of range | Sown land – crops, corn
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	3	2.5
Commercial costs	14	2
Production costs	334	198
Bottom of range | Sown land – rice
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	3.2	6.5
Commercial costs	8	8
Production costs	810	750
Top of range | Sown land – sugarcane
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	100	100
TRS value | kilogramOfSugarPerTonOfCane	140	140
Maintenance costs	800	600
Harvest costs | uSDollarPerTonOfCane	12	12
Leasing costs | tonPerHectare	14.4	14.4
Top of range | Sown land – crops, sunflower
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	2.5	3
Commercial costs	49	71
Production costs	1,005	641
Top of range | Sown land – crops, wheat
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	5.6	5.5
Commercial costs	54	43
Production costs	899	612
Top of range | Sown land – crops, soybean
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	4	3.8
Commercial costs	65	59
Production costs	1,096	750
Top of range | Sown land - crops, peanut
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	3.6	3.5
Commercial costs	69	31
Production costs	2,060	1,400
Top of range | Sown land – crops, corn
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	10	11
Commercial costs	62	51
Production costs	1,449	990
Top of range | Sown land – rice
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Plant yields | tonPerHectare	10.1	7.5
Commercial costs	25	16
Production costs	1,300	950

Financial instruments by cate_3

Financial instruments by category - Carrying amounts of financial assets and financial liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets as per statement of financial position
Trade and other receivables	$ 188,080	$ 197,928
Derivative financial instruments	1,585	2,102
Cash and cash equivalents	199,766	336,282	$ 290,276	$ 273,635
Total	389,431	536,312
Liabilities as per statement of financial position
Trade and other payables	169,030	126,605
Total debt	817,651	971,090	$ 968,280
Lease liabilities	246,854	195,772
Derivative financial instruments	1,283	13,141
Total	1,234,818	1,306,608
Financial Liability Instrument
Liabilities as per statement of financial position
Trade and other payables	153,459	114,813
Total debt	817,651	971,090
Lease liabilities	246,854	195,772
Derivative financial instruments	1,283	13,141
Total	1,219,247	1,294,816
Non- financial liabilities
Liabilities as per statement of financial position
Trade and other payables	15,571	11,792
Total debt	0	0
Lease liabilities	0	0
Derivative financial instruments	0	0
Total	15,571	11,792
Liabilities at fair value through profit or loss | Financial Liability Instrument
Liabilities as per statement of financial position
Trade and other payables	0	0
Total debt	0	0
Lease liabilities	0	0
Derivative financial instruments	1,283	13,141
Total	1,283	13,141
Financial liabilities at amortized cost | Financial Liability Instrument
Liabilities as per statement of financial position
Trade and other payables	153,459	114,813
Total debt	817,651	971,090
Lease liabilities	246,854	195,772
Derivative financial instruments	0	0
Total	1,217,964	1,281,675
Financial Assets Instruments
Assets as per statement of financial position
Trade and other receivables	101,371	109,231
Derivative financial instruments	1,585	2,102
Cash and cash equivalents	199,766	336,282
Total	302,722	447,615
Financial Assets Instruments | Financial asset / liabilities at amortized cost
Assets as per statement of financial position
Trade and other receivables	101,371	109,231
Derivative financial instruments	0	0
Cash and cash equivalents	199,766	336,282
Total	301,137	445,513
Financial Assets Instruments | Assets at fair value through profit or loss
Assets as per statement of financial position
Trade and other receivables	0	0
Derivative financial instruments	1,585	2,102
Cash and cash equivalents	0	0
Total	1,585	2,102
Non- financial assets
Assets as per statement of financial position
Trade and other receivables	86,709	88,697
Derivative financial instruments	0	0
Cash and cash equivalents	0	0
Total	$ 86,709	$ 88,697

Financial instruments by cate_4

Financial instruments by category - Income, expense, gains and losses on financial instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Financial Assets And Financial Liabilities [Line Items]
Interest income	$ 4,081	$ 4,084	$ 7,319
Interest expense	(62,536)	(58,282)	$ (60,134)
Foreign exchange gains/(losses)	18,939	(109,266)
Loss from derivative financial instruments	(15,478)	(8,228)
Finance cost related to lease liabilities	(16,502)	(12,532)
Financial asset / liabilities at amortized cost
Disclosure Of Financial Assets And Financial Liabilities [Line Items]
Interest income	4,081	4,084
Interest expense	(62,536)	(58,282)
Foreign exchange gains/(losses)	18,939	(109,266)
Loss from derivative financial instruments	0	0
Finance cost related to lease liabilities	(16,502)	(12,532)
Assets at fair value through profit or loss | Liabilities at fair value through profit or loss
Disclosure Of Financial Assets And Financial Liabilities [Line Items]
Interest income	0	0
Interest expense	0	0
Foreign exchange gains/(losses)	0	0
Loss from derivative financial instruments	(15,478)	(8,228)
Finance cost related to lease liabilities	$ 0	$ 0

Financial instruments by cate_5

Financial instruments by category - Financial assets and financial liabilities measured at fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Derivative financial assets	$ 1,585	$ 2,102
Derivative financial liabilities	(1,283)	(13,141)
Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Derivative financial assets	828	151
Derivative financial liabilities	(1,283)	(12,984)
Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Derivative financial assets	757	1,951
Derivative financial liabilities	$ 0	$ (157)

Financial instruments by cate_6

Financial instruments by category - Fair values based on recognized valuation methods (Details) $ in Thousands	Dec. 31, 2021USD ($)
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Derivative financial assets (liabilities)	$ 302
Level 1 | Futures
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Derivative financial assets (liabilities)	(455)
Level 2 | Interest-rate swaps
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Derivative financial assets (liabilities)	$ 757

Trade and other receivables, _3

Trade and other receivables, net - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Non-current
Advances to suppliers	$ 952	$ 1,704
Income tax credits	6,862	5,283
Non-income tax credits	19,156	18,195
Judicial deposits	1,674	2,188
Receivable from disposal of subsidiary (Note 21)	9,830	23,093
Other receivables	3,757	1,803
Non-current portion	42,231	52,266
Current
Trade receivables	60,703	54,565
Prepaid expenses	9,405	10,427
Advances to suppliers	19,074	17,751
Income tax credits	1,846	1,709
Non-income tax credits	29,414	33,628
Receivable from disposal of subsidiary (Note 21)	17,259	15,506
Cash collateral	21	36
Other receivables	8,127	12,040
Subtotal	85,146	91,097
Trade and other receivables, net	145,849	145,662
Trade and other receivables	188,080	197,928
Reclassified from property, plant and equipment	303	363
Gross | Trade receivables excluding related party
Current
Trade receivables	63,726	58,530
Allowance for trade receivables
Current
Trade receivables	$ 3,023	$ 3,965

Trade and other receivables, _4

Trade and other receivables, net - Carrying Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets [line items]
Trade and other receivables	$ 188,080	$ 197,928
U.S. Dollar
Disclosure of financial assets [line items]
Trade and other receivables	62,604	56,531
Argentine Peso
Disclosure of financial assets [line items]
Trade and other receivables	55,260	55,433
Uruguayan Peso
Disclosure of financial assets [line items]
Trade and other receivables	460	811
Brazilian Reais
Disclosure of financial assets [line items]
Trade and other receivables	$ 69,756	$ 85,153

Trade and other receivables, _5

Trade and other receivables, net - Narrative (Details) $ in Thousands	Dec. 31, 2021USD ($)company	Dec. 31, 2020USD ($)
Disclosure of financial assets that are either past due or impaired [line items]
Number of well-known multinational companies with good credit quality standing | company	24
Trade and other receivables | Later than six months
Disclosure of financial assets that are either past due or impaired [line items]
Trade receivables past due but not impaired	$ 717	$ 977
Trade and other receivables | Past due but not impaired
Disclosure of financial assets that are either past due or impaired [line items]
Trade receivables past due but not impaired	$ 11,224	$ 11,623
Proportion of outstanding unimpaired trade receivables (as a percent)	53.00%	25.00%

Trade and other receivables, _6

Trade and other receivables, net - Movements in Allowance for Trade Receivables (Details) - Trade and other receivables - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance For Doubtful Trade Receivables [Roll Forward]
Beginning balance	$ 3,965	$ 3,773	$ 2,503
Charge of the year	2,022	2,192	3,656
Acquisition of subsidiary	0	0	46
Unused amounts reversed	(970)	(769)	(1,314)
Used during the year	(1,456)	(446)	(48)
Exchange differences	(538)	(785)	(1,070)
Ending balance	$ 3,023	$ 3,965	$ 3,773

Inventories - Summary (Details)

Inventories - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventories [abstract]
Raw materials	$ 101,270	$ 56,420
Finished goods	138,254	77,041	$ 65,278	$ 79,758
Current inventories	$ 239,524	$ 133,461

Cash and cash equivalents - Sum

Cash and cash equivalents - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents [abstract]
Cash at bank and on hand	$ 152,721	$ 178,079
Short-term bank deposits	47,045	158,203
Cash and cash equivalents	$ 199,766	$ 336,282	$ 290,276	$ 273,635

Disposals and acquisitions - Na

Disposals and acquisitions - Narrative (Details) R$ in Millions	Dec. 21, 2021USD ($)facilityinstallment	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)ha	Feb. 28, 2019USD ($)facility	Jan. 31, 2019USD ($)installment	Jan. 31, 2019BRL (R$)installment	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of subsidiaries [line items]
Gain (loss) from disposal							$ 0	$ 2,064,000	$ 1,354,000
Huelen Farm | Global Seward SLU and Peak City SLU
Disclosure of subsidiaries [line items]
Total consideration for disposal		$ 30,100,000
Cash collected from sale of wholly owned subsidiary		10,100,000					10,000,000
Gain (loss) from disposal		(600,000)
Reclassification of revaluation surplus to retained earnings		$ 2,200,000
Province of Santa Fe
Disclosure of subsidiaries [line items]
Cash collected from sale of wholly owned subsidiary			$ 12,100,000
Gain (loss) from disposal			$ 2,100,000
Area of farm land | ha			811.70
Increase (decrease) through transfer between revaluation reserve and retained earnings regarding land sold			$ 8,000,000
Alto Alegre Farm | Negocios Imobiliarios Ltda.
Disclosure of subsidiaries [line items]
Number of installments to transfer consideration | installment					7	7
Total consideration for disposal					$ 16,600,000	R$ 62.5
Cash collected from sale of wholly owned subsidiary					2,200,000	R$ 8.4
Gain (loss) from disposal					1,500,000
Reclassification of revaluation surplus to retained earnings					$ 8,000,000
CHS AGRO S.A.
Disclosure of subsidiaries [line items]
Voting equity interests acquired (as a percent)					50.00%
Proportion of ownership interest in subsidiary (as a percent)					100.00%	100.00%
Value of participation					$ 0
Gain (loss) from acquisition					$ 200,000
Olam Alimentos S.A.
Disclosure of subsidiaries [line items]
Voting equity interests acquired (as a percent)					100.00%
Consideration transferred, acquisition-date fair value					$ 10,000,000
Number of installments to transfer consideration | installment					3	3
SanCor
Disclosure of subsidiaries [line items]
Consideration transferred, acquisition-date fair value				$ 47,000,000
Number of facilities acquired | facility				2
Viterra Limited Rice Production Operations
Disclosure of subsidiaries [line items]
Consideration transferred, acquisition-date fair value	$ 18,000,000						$ 20,000,000
Number of installments to transfer consideration | installment	3
Viterra Limited Rice Production Operations | Uruguay | Rice
Disclosure of subsidiaries [line items]
Number of facilities acquired | facility	4
Viterra Limited Rice Production Operations | Argentina
Disclosure of subsidiaries [line items]
Number of facilities acquired | facility	1
Viterra Limited Rice Production Operations | Argentina | Rice
Disclosure of subsidiaries [line items]
Number of facilities acquired | facility	1

Shareholders' contributions - N

Shareholders' contributions - Narrative (Details) - USD ($)	Apr. 20, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021	Mar. 11, 2022	Sep. 24, 2013
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share capital		$ 183,573,000	$ 183,573,000		$ 183,573,000
Treasury shares		$ 16,909,000	7,630,000		$ 16,909,000
Par value per share (USD per share)		$ 1.5			$ 1.5
Authorized proportion of outstanding stock (as a percent)							5.00%
Purchase of treasury shares		$ 66,463,000	4,365,000	$ 4,263,000
Treasury stock (shares)		11,285,043			11,285,043
Decision of the Extraordinary General Shareholders’ meeting
Disclosure of terms and conditions of share-based payment arrangement [line items]
Reduction of issued capital	$ 16,500,000
Cancellation of treasury shares	$ 11,000,000
Treasury shares, nominal value	$ 1.50
Share capital	$ 167,072,722.5
Number of shares issued	111,381,815
Treasury shares	$ 52,254
Annual Dividend Proposal
Disclosure of terms and conditions of share-based payment arrangement [line items]
Dividend payables						$ 35,000,000
Share Repurchase Program
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock repurchased under program (shares)					17,366,080
Employee stock options exercised (shares)					6,143,349
Purchase of treasury shares		$ 66,462,000	$ 4,365,000	$ 4,263,000

Shareholders' contributions - S

Shareholders' contributions - Share Capital (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share capital and share premium
Balance at beginning of period	$ 963,724	$ 1,028,883	$ 1,108,145
Restricted shares and units vested	448	1,224	721
Purchase of own shares	(66,463)	(4,365)	(4,263)
Balance at end of period	$ 1,047,830	$ 963,724	$ 1,028,883
Number of shares
Number of shares
Stock at beginning of period (shares)	122,382,000	122,382,000	122,382,000
Restricted shares and units vested (shares)	0	0	0
Purchase of own shares (shares)	0	0	0
Stock at end of period (shares)	122,382,000	122,382,000	122,382,000
Share capital and share premium
Balance at beginning of period	$ 183,573	$ 183,573	$ 183,573
Balance at end of period	183,573	183,573	183,573
Share capital and share premium
Share capital and share premium
Balance at beginning of period	1,086,388	1,085,312	1,084,076
Restricted shares and units vested	3,594	4,182	4,455
Purchase of own shares	(55,349)	(3,106)	(3,219)
Balance at end of period	$ 1,034,633	$ 1,086,388	$ 1,085,312

Equity-settled share-based pa_3

Equity-settled share-based payments - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2014	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017	Dec. 31, 2004
Disclosure of terms and conditions of share-based payment arrangement [line items]
Term of options granted		10 years
Share-based compensation expense		$ 6,406	$ 4,316	$ 4,734
Stock Options, 2004 Stock Incentive Option Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Maximum term of options						10 years
Extended term on options	10 years
Restricted Stock and Restricted Stock Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period		3 years
Vesting rate (as a percent)		33.00%
Maximum stock authorized (shares)		5,379,164
Stock already granted (shares)		3,809,322
Stock vested in future periods (shares)		1,396,221
Restricted Stock Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expense		$ 6,600	$ 4,400		$ 4,700

Equity-settled share-based pa_4

Equity-settled share-based payments - Options Schemes (Details) - Stock Options, 2004 Stock Incentive Option Plan shares in Thousands	12 Months Ended
	Dec. 31, 2021shares$ / shares	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / shares
Movement of Share-Based Payment Arrangement [Roll Forward]
Outstanding weighted average exercise price of share options outstanding at beginning of period (in USD per Share) | $ / shares	$ 6.66	$ 6.66	$ 6.66
Weighted average exercise price of share options exercised (in USD per share) | $ / shares	0	0	0
Outstanding weighted average exercise price of share options outstanding at end of period (in USD per Share) | $ / shares	$ 6.66	$ 6.66	$ 6.66
Outstanding options at beginning of period (shares)	1,634	1,634	1,634
Exercised (shares)	0	0	0
Outstanding options at end of period (shares)	1,634	1,634	1,634
May 1, 2024
Movement of Share-Based Payment Arrangement [Roll Forward]
Outstanding weighted average exercise price of share options outstanding at end of period (in USD per Share) | $ / shares	$ 5.83
Outstanding options at beginning of period (shares)	496	496
Outstanding options at end of period (shares)	496	496	496
May 1, 2025
Movement of Share-Based Payment Arrangement [Roll Forward]
Outstanding weighted average exercise price of share options outstanding at end of period (in USD per Share) | $ / shares	$ 5.83
Outstanding options at beginning of period (shares)	452	452
Outstanding options at end of period (shares)	452	452	452
January 1, 2026
Movement of Share-Based Payment Arrangement [Roll Forward]
Outstanding weighted average exercise price of share options outstanding at end of period (in USD per Share) | $ / shares	$ 5.83
Outstanding options at beginning of period (shares)	142	142
Outstanding options at end of period (shares)	142	142	142
February 16, 2026
Movement of Share-Based Payment Arrangement [Roll Forward]
Outstanding weighted average exercise price of share options outstanding at end of period (in USD per Share) | $ / shares	$ 7.11
Outstanding options at beginning of period (shares)	103	103
Outstanding options at end of period (shares)	103	103	103
October 1, 2026
Movement of Share-Based Payment Arrangement [Roll Forward]
Outstanding weighted average exercise price of share options outstanding at end of period (in USD per Share) | $ / shares	$ 8.62
Outstanding options at beginning of period (shares)	441	441
Outstanding options at end of period (shares)	441	441	441

Equity-settled share-based pa_5

Equity-settled share-based payments - Key Grant Date Fair Value and Other Assumptions (Details) - USD ($)	May 13, 2021	Apr. 01, 2021	May 12, 2020	Apr. 01, 2020	May 15, 2019	Apr. 01, 2019
Share-Based Payment Arrangements [Abstract]
Grant date, fair value (USD per share)	$ 8.09	$ 8.36	$ 7.45	$ 5.65	$ 7.20	$ 7
Possibility of ceasing employment before vesting (as a percent)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Equity-settled share-based pa_6

Equity-settled share-based payments - Restricted Share and Restricted Stock Unit Plan (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted shares
Movement of Share-Based Payment Arrangement [Roll Forward]
Balance at beginning of period (shares)	1,222,000	750,000	0
Granted (shares)	1,067,000	751,000	753,000
Forfeited (shares)	(32,000)	(24,000)	(3,000)
Vested (shares)	(491,000)	(255,000)	0
Balance at end of period (shares)	1,766,000	1,222,000	750,000
Restricted Stock Units
Movement of Share-Based Payment Arrangement [Roll Forward]
Balance at beginning of period (shares)	174,000	508,000	976,000
Granted (shares)	0	0	20,000
Forfeited (shares)	0	(10,000)	(12,000)
Vested (shares)	(174,000)	(324,000)	(476,000)
Balance at end of period (shares)	0	174,000	508,000

Legal and other reserves - Narr

Legal and other reserves - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of reserves within equity [abstract]
Legal and other reserve	$ 14,643,000	$ 9,662,000
Distributable retained earnings	0
Retained earnings, unappropriated	$ 935,111,000

Trade and other payables - Summ

Trade and other payables - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Non-current
Other payables	$ 284	$ 290
Trade and other payables, non-current	284	290
Current
Trade payables	151,979	110,662
Advances from customers	8,705	4,755
Taxes payable	6,866	7,037
Payables from acquisition of property, plant and equipment	0	3,569
Other payables	1,196	292
Trade and other payables, current	168,746	126,315
Trade and other payables	$ 169,030	$ 126,605

Borrowings - Borrowings (Detail

Borrowings - Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Non-current
Non-current portion of non-current notes and debentures issued	$ 497,455	$ 497,009
Non-current	705,487	813,464
Current
Current notes and debentures issued and current portion of non-current notes and debentures issued	8,250	8,250
Current	112,164	157,626
Borrowings	817,651	971,090	$ 968,280
Bank borrowings
Non-current
Non-current	208,032	316,455
Current
Current	92,146	98,929
Bank overdrafts
Current
Current	$ 11,768	$ 50,447

Borrowings - Narrative (Details

Borrowings - Narrative (Details) $ in Thousands, R$ in Millions	Sep. 21, 2017USD ($)	Oct. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021BRL (R$)	Jun. 30, 2020USD ($)
Disclosure of detailed information about borrowings [line items]
Collateralized liabilities			$ 97,999	$ 70,221	$ 97,999
Level 2 | Fair value
Disclosure of detailed information about borrowings [line items]
Borrowings			$ 528,000	$ 517,300	$ 528,000
Borrowings, nominal rate (as a percent)				103.47%	105.65%
Senior Notes due 2027
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 500,000
Issuance of senior notes	$ 495,700
Senior Notes due 2027 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)	6.00%
Brazilian Subsidiaries | Bottom of range
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis (as a percent)				5.16%		5.16%
Brazilian Subsidiaries | Top of range
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis (as a percent)				14.73%		14.73%
Brazilian Subsidiaries | Fixed interest rate | Bottom of range
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)				2.50%		2.50%
Brazilian Subsidiaries | Fixed interest rate | Top of range
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)				7.95%		7.95%
Brazilian Subsidiaries | Certificados Recebíveis do Agronegócio (CRA)
Disclosure of detailed information about borrowings [line items]
Nominal amount | R$						R$ 400.0
Brazilian Subsidiaries | Certificados Recebíveis do Agronegócio (CRA) | IPCA
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)			3.80%		3.80%
Adjustment to interest rate basis (as a percent)				3.80%		3.80%
Argentina Subsidiaries | IFC Tranche A And B Granted 2020
Disclosure of detailed information about borrowings [line items]
Nominal amount							$ 100,000
Tenor period			8 years
Grace period			2 years
Amount received regarding loan agreement with IFC		$ 22,000
Argentina Subsidiaries | IFC Tranche A And B Granted 2020 | LIBOR Variable Rate Basis
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis (as a percent)				4.00%		4.00%
Argentina Subsidiaries | Amended IFC Tranche A And B
Disclosure of detailed information about borrowings [line items]
Nominal amount				$ 60,000
Argentina Subsidiaries | Amended IFC Tranche A And B | LIBOR Variable Rate Basis
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis (as a percent)				3.00%		3.00%
U.S. Dollar | Argentina Subsidiaries | Fixed interest rate | Bottom of range
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)				0.00%		0.00%
U.S. Dollar | Argentina Subsidiaries | Fixed interest rate | Top of range
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)				6.20%		6.20%
U.S. Dollar | Argentina Subsidiaries | LIBOR Variable Rate Basis | Bottom of range
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)				4.00%		4.00%
Argentine Peso | Argentina Subsidiaries | Fixed interest rate | Bottom of range
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)				34.00%		34.00%
Argentine Peso | Argentina Subsidiaries | Fixed interest rate | Top of range
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)				39.00%		39.00%

Borrowings - Maturity of Borrow

Borrowings - Maturity of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Total debt	$ 817,651	$ 971,090	$ 968,280
Borrowings excluding obligations under finance lease
Disclosure of detailed information about borrowings [line items]
Total debt	817,651	971,090
Borrowings excluding obligations under finance lease | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	626,807	717,641
Borrowings excluding obligations under finance lease | Variable interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	190,844	253,449
Borrowings excluding obligations under finance lease | Less than 1 year | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	104,349	116,113
Borrowings excluding obligations under finance lease | Less than 1 year | Variable interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	7,815	41,513
Borrowings excluding obligations under finance lease | Between 1 and 2 years | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	12,503	52,175
Borrowings excluding obligations under finance lease | Between 1 and 2 years | Variable interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	5,075	32,870
Borrowings excluding obligations under finance lease | Between 2 and 3 years | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	12,500	39,844
Borrowings excluding obligations under finance lease | Between 2 and 3 years | Variable interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	31,754	6,035
Borrowings excluding obligations under finance lease | Between 3 and 4 years | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	0	12,500
Borrowings excluding obligations under finance lease | Between 3 and 4 years | Variable interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	29,255	5,154
Borrowings excluding obligations under finance lease | Between 4 and 5 years | Variable interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	71,045	28,334
Borrowings excluding obligations under finance lease | Over 5 Years | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	497,455	497,009
Borrowings excluding obligations under finance lease | Over 5 Years | Variable interest rate
Disclosure of detailed information about borrowings [line items]
Total debt	$ 45,900	$ 139,543

Borrowings - Brazilian Subsidia

Borrowings - Brazilian Subsidiaries (Details) $ in Thousands, R$ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2021BRL (R$)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of detailed information about borrowings [line items]
Total debt | $	$ 817,651		$ 971,090	$ 968,280
Brazilian Subsidiaries | Banco Do Brasil
Disclosure of detailed information about borrowings [line items]
Nominal amount		R$ 130.0
Total debt	$ 3,170	R$ 17.7	7,080
Interest rate on borrowings (as a percent)	2.94%	2.94%
Performance bonus (as a percent)	15.00%	15.00%
Interest rate on borrowings (as a percent)	2.94%	2.94%
Brazilian Subsidiaries | Itau BBA FINAME Loan
Disclosure of detailed information about borrowings [line items]
Nominal amount		R$ 45.9
Total debt	$ 370	R$ 2.1	1,400
Interest rate on borrowings (as a percent)	2.50%	2.50%
Interest rate on borrowings (as a percent)	2.50%	2.50%
Brazilian Subsidiaries | Banco do Brasil / Itau BBA Finem Loan
Disclosure of detailed information about borrowings [line items]
Nominal amount		R$ 273.0
Total debt	$ 4,750	R$ 26.5	9,510
Brazilian Subsidiaries | Banco do Brasil / Itau BBA Finem Loan | CDI Variable Rate Basis
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis (as a percent)	7.29%	7.29%
Brazilian Subsidiaries | BNDES Finem Loan
Disclosure of detailed information about borrowings [line items]
Nominal amount		R$ 215.0
Total debt	$ 5,280	R$ 29.5	10,660
Interest rate on borrowings (as a percent)	4.63%	4.63%
Interest rate on borrowings (as a percent)	4.63%	4.63%
Brazilian Subsidiaries | Certificados Recebíveis do Agronegócio (CRA)
Disclosure of detailed information about borrowings [line items]
Nominal amount		R$ 400.0
Total debt	$ 83,680	467	$ 77,920
Notional Amount, Adjusted For Brazilian Inflation Rate		R$ 467.0
Brazilian Subsidiaries | Certificados Recebíveis do Agronegócio (CRA) | IPCA
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)			3.80%
Adjustment to interest rate basis (as a percent)	3.80%	3.80%
Interest rate on borrowings (as a percent)			3.80%
Brazilian Subsidiaries | Debenture
Disclosure of detailed information about borrowings [line items]
Nominal amount		R$ 447.0
Total debt	$ 80,100	R$ 447.0	$ 14,430
Brazilian Subsidiaries | Debenture | IPCA
Disclosure of detailed information about borrowings [line items]
Interest rate on borrowings (as a percent)	4.24%	4.24%
Interest rate on borrowings (as a percent)	4.24%	4.24%
Brazilian Subsidiaries | ING Bank N.V
Disclosure of detailed information about borrowings [line items]
Nominal amount | $	$ 75,000
Total debt	$ 0	R$ 0.0	$ 75,000
Interest rate on borrowings (as a percent)	6.33%	6.33%
Interest rate on borrowings (as a percent)	6.33%	6.33%

Borrowings - Argentinian Subsid

Borrowings - Argentinian Subsidiaries (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Total debt	$ 817,651	$ 971,090		$ 968,280
Net book value of pledged assets	124,554	451,904
Argentina Subsidiaries | Rabobank Due June 2024
Disclosure of detailed information about borrowings [line items]
Nominal amount	50,000
Total debt	$ 37,500	50,000
Argentina Subsidiaries | Rabobank Due June 2024 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis (as a percent)	6.17%
Argentina Subsidiaries | IFC Tranche A 3 due June 2028
Disclosure of detailed information about borrowings [line items]
Nominal amount	$ 12,600
Total debt	$ 12,350	12,600
Argentina Subsidiaries | IFC Tranche A 3 due June 2028 | LIBOR Variable Rate Basis
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis (as a percent)	4.00%
Argentina Subsidiaries | IFC Tranche B 3 Due June 2028
Disclosure of detailed information about borrowings [line items]
Nominal amount	$ 9,400
Total debt	$ 9,220	$ 9,410
Argentina Subsidiaries | IFC Tranche B 3 Due June 2028 | LIBOR Variable Rate Basis
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis (as a percent)	4.00%
Argentina Subsidiaries | IFC Tranche A And B Granted 2020
Disclosure of detailed information about borrowings [line items]
Nominal amount			$ 100,000
Argentina Subsidiaries | IFC Tranche A And B Granted 2020 | LIBOR Variable Rate Basis
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis (as a percent)	4.00%
Argentina Subsidiaries | Adeco Agropecuaria S.A. | IFC Tranche A And B Granted 2020
Disclosure of detailed information about borrowings [line items]
Net book value of pledged assets	$ 241,800
Argentina Subsidiaries | Pilagá S.A. | IFC Tranche A And B Granted 2020
Disclosure of detailed information about borrowings [line items]
Net book value of pledged assets	35,700
Argentina Subsidiaries | Bañado del Salado S.A. | IFC Tranche A And B Granted 2020
Disclosure of detailed information about borrowings [line items]
Net book value of pledged assets	$ 44,300

Borrowings - Evolution of Borro

Borrowings - Evolution of Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Borrowings [Roll Forward]
Amount at the beginning of the year	$ 971,090	$ 968,280
Proceeds from long-term borrowings	30,972	116,015	$ 108,271
Payments of long-term borrowings	(108,425)	(34,750)	(101,826)
Proceeds from short term borrowings	286,115	207,217
Payments of short-term borrowings	(328,463)	(233,540)	(131,521)
Payments of interest	(49,592)	(57,914)
Accrued interest	48,791	52,800
Exchange differences, inflation and translation, net	(52,693)	(55,612)
Others	19,856	8,594
Amount at the end of the year	$ 817,651	$ 971,090	$ 968,280

Lease liabilities - Summary (De

Lease liabilities - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Lease liabilities
Non-current	$ 201,718	$ 159,435
Current	45,136	36,337
Lease liabilities	$ 246,854	$ 195,772

Lease liabilities - Maturity of

Lease liabilities - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be paid	$ 246,854	$ 195,772
Less than 1 year
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be paid	45,136	36,337
Between 1 and 2 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be paid	44,847	20,276
Between 2 and 3 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be paid	38,745	30,228
Between 3 and 4 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be paid	30,085	23,920
Between 4 and 5 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be paid	24,072	19,951
More than 5 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be paid	$ 63,969	$ 65,060

Lease liabilities - Lease Liabi

Lease liabilities - Lease Liability Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of maturity analysis of operating lease payments [line items]
Amount at the beginning of the year	$ 195,772
Exchange differences	(11,647)
Additions and re-measurement	108,500
Payments	(62,273)
Finance cost related to lease liabilities	16,502	$ 12,532	$ 9,524
Closing net book amount	246,854	195,772
Lease Liability - Agricultural Partnerships
Disclosure of maturity analysis of operating lease payments [line items]
Amount at the beginning of the year	178,423
Exchange differences	(11,698)
Additions and re-measurement	93,091
Payments	(53,206)
Finance cost related to lease liabilities	15,403
Closing net book amount	222,013	178,423
Lease Liability - Others
Disclosure of maturity analysis of operating lease payments [line items]
Amount at the beginning of the year	17,349
Exchange differences	51
Additions and re-measurement	15,409
Payments	(9,067)
Finance cost related to lease liabilities	1,099
Closing net book amount	$ 24,841	$ 17,349

Payroll and social securities_3

Payroll and social securities payable - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Non-current
Social security payable	$ 1,243	$ 1,075
Non-current payroll and social security liabilities	1,243	1,075
Current
Salaries payable	2,617	2,774
Social security payable	3,499	2,827
Provision for vacations	8,136	6,866
Provision for bonuses	10,799	10,866
Current payroll and social security liabilities	25,051	23,333
Total payroll and social security liabilities	$ 26,294	$ 24,408

Provisions for other liabilit_3

Provisions for other liabilities - Changes in Provisions for Other Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Movement In Other Provisions [Roll Forward]
Other provisions, beginning balance	$ 4,359	$ 3,172
Additions	4,392	2,339
Used during year	(2,483)	(407)
Exchange differences	(282)	(745)
Other provisions, ending balance	5,986	4,359
Labor, legal and other claims
Movement In Other Provisions [Roll Forward]
Other provisions, beginning balance	2,864	3,126
Additions	917	890
Used during year	(1,028)	(407)
Exchange differences	(226)	(745)
Other provisions, ending balance	2,527	2,864
Others
Movement In Other Provisions [Roll Forward]
Other provisions, beginning balance	1,495	46
Additions	3,475	1,449
Used during year	(1,455)	0
Exchange differences	(56)	0
Other provisions, ending balance	$ 3,459	$ 1,495

Provisions for other liabilit_4

Provisions for other liabilities - Total Provisions (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other provisions [abstract]
Non current	$ 2,565	$ 2,705
Current	3,421	1,654
Total provisions	$ 5,986	$ 4,359	$ 3,172

Provisions for other liabilit_5

Provisions for other liabilities - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Tax, labor, civil, administrative and other proceedings
Disclosure of contingent liabilities [line items]
Contingent liabilities	$ 72.1	$ 73.7

Group companies - Ownership Int

Group companies - Ownership Interests in Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Argentina | Adeco Agropecuaria S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Argentina | Pilagá S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	99.94%	99.94%
Argentina | Cavok S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	51.00%	51.00%
Argentina | Establecimientos El Orden S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	51.00%	51.00%
Argentina | Bañado del Salado S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Argentina | Agro Invest S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	51.00%	51.00%
Argentina | Forsalta S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	51.00%	51.00%
Argentina | Dinaluca S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Argentina | Compañía Agroforestal S.M.S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Argentina | Energía Agro S.A.U.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Argentina | L3N S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Argentina | Maní del Plata S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Argentina | Girasoles del Plata S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Brazil | Adeco Agropecuaria Brasil S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Brazil | Adecoagro Vale do Ivinhema S.A. (AVI)
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Brazil | Usina Monte Alegre Ltda. (UMA)
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Brazil | Monte Alegre Energia Ltda.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Brazil | Adecoagro Energia Ltda.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Brazil | Adecoagro Agricultura e Participação Ltda.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Brazil | Adeco Brasil Participações S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Uruguay | Kelizer S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Uruguay | Adecoagro Uruguay S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Uruguay | Ladelux S.C.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Chile | Adecoagro Chile S.P.A
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Luxembourg | Adecoagro LP S.C.S.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Luxembourg | Adecoagro GP S.a.r.l.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%
Spain | Spain Holding Companies
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary (as a percent)	0.00%	0.00%

Related-party transactions - Su

Related-party transactions - Summary (Details) - Management and selected employees - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Compensation selected employees	$ (7,883)	$ (5,232)	$ (7,122)
Amounts payable, related party transactions	$ (16,198)	$ (15,499)

Critical accounting estimates_3

Critical accounting estimates and judgments - Narrative (Details) $ in Thousands	Dec. 31, 2021USD ($)	Sep. 30, 2021USD ($)unit	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)unit
Disclosure of information for cash-generating units [line items]
Number of cash-generating units | unit		39		40
Total assets allocated to CGUs tested | $	$ 2,582,401		$ 2,482,236
Argentina
Disclosure of information for cash-generating units [line items]
Number of cash-generating units | unit		11		12
Argentina | Cash-generating units
Disclosure of information for cash-generating units [line items]
Total assets allocated to CGUs tested | $	155,000	$ 155,065		$ 175,050
Brazil
Disclosure of information for cash-generating units [line items]
Number of cash-generating units | unit		2		2
Brazil | Cash-generating units
Disclosure of information for cash-generating units [line items]
Total assets allocated to CGUs tested | $	$ 468,000	$ 473,448		$ 497,948

Critical accounting estimates_4

Critical accounting estimates and judgments - Allocated Goodwill to CGUs in Argentina (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Disclosure of information for cash-generating units [line items]
Total assets allocated to CGUs tested	$ 2,582,401		$ 2,482,236
Argentina | La Carolina | Crops
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		$ 197		$ 168
Argentina | La Carolina | Cattle
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		32		27
Argentina | El Orden | Crops
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		212		180
Argentina | El Orden | Cattle
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		8		7
Argentina | La Guarida | Crops
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		1,407		1,196
Argentina | La Guarida | Cattle
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		725		616
Argentina | Los Guayacanes | Crops
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		2,606		2,215
Argentina | Dona Marina | Rice
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		4,536		3,856
Argentina | Huelen | Crops
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		0		3,838
Argentina | El Colorado | Crops
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		2,256		1,918
Argentina | El Colorado | Cattle
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		22		19
Argentina | Cash-generating units
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		12,001		14,040
Closing net book value of PPE items allocated to CGUs tested		143,064		161,010
Total assets allocated to CGUs tested	$ 155,000	$ 155,065		$ 175,050

Critical accounting estimates_5

Critical accounting estimates and judgments - Key Assumptions (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Disclosure of information for cash-generating units [line items]
Future pricing increases (as a percent)	1.76%	1.76%
Future cost increases (as a percent)	0.33%	0.33%
Discount rates (as a percent)	4.00%	7.00%
Perpetuity growth rate (as a percent)	1.00%	1.00%
UMA
Disclosure of information for cash-generating units [line items]
Financial projections (in years)	5 years	4 years
AVI
Disclosure of information for cash-generating units [line items]
Financial projections (in years)	5 years	7 years
Bottom of range
Disclosure of information for cash-generating units [line items]
Yield average growth rates (as a percent)	0.00%	0.00%
Top of range
Disclosure of information for cash-generating units [line items]
Yield average growth rates (as a percent)	1.00%	1.00%

Critical accounting estimates_6

Critical accounting estimates and judgments - Allocated Goodwill to CGUs in Brazil (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Disclosure of information for cash-generating units [line items]
Total assets allocated to CGUs tested	$ 2,582,401		$ 2,482,236
Sugar, Ethanol and Energy | AVI
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		$ 2,919		$ 2,815
Sugar, Ethanol and Energy | UMA
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		1,095		1,056
Brazil | Cash-generating units
Disclosure of information for cash-generating units [line items]
Closing net book value of goodwill allocated to CGUs tested (Note 15)		4,014		3,871
Closing net book value of PPE items allocated to CGUs tested		469,434		494,077
Total assets allocated to CGUs tested	$ 468,000	$ 473,448		$ 497,948

Summary of significant accoun_3

Summary of significant accounting policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2021USD ($)contract
Disclosure of detailed information about intangible assets [line items]
Operating lease, capitalization threshold | $	$ 30,000
Number of power agreements | contract	2
Expiration Date 2042
Disclosure of detailed information about intangible assets [line items]
Power agreement terms	25 years
Expiration date 2024
Disclosure of detailed information about intangible assets [line items]
Power agreement terms	15 years
Expiration date 2025
Disclosure of detailed information about intangible assets [line items]
Power agreement terms	15 years
Trademarks | Bottom of range
Disclosure of detailed information about intangible assets [line items]
Useful lives of intangible assets	10 years
Trademarks | Top of range
Disclosure of detailed information about intangible assets [line items]
Useful lives of intangible assets	20 years
Software | Bottom of range
Disclosure of detailed information about intangible assets [line items]
Useful lives of intangible assets	3 years
Software | Top of range
Disclosure of detailed information about intangible assets [line items]
Useful lives of intangible assets	5 years