Corn exports in Argentina are expected to suffer serious reductions

22 Feb 2023

Corn exports in Argentina are expected to suffer serious reductions

Corn exports in Argentina could decrease around 40% year on year between March and June of 2023. According to the Rosario Grains Exchange (BCR),very few hectares were planted early this season due to the effects of a historic drought. 

The BCR predicted “just 8.7 million tonnes of corn exports for those four months, after just 19% of an estimated 7.3 million hectares (18.04 million acres) were sown in the early weeks of the campaign, as many farmers awaited rains that did not materialize in many regions.”

Additionally, starting the cycle on September 2022, the corn production was estimated to be 55 million tonnes harvest. Still, last week, the BCR cut corn production due to the consequences of the worst drought in the last 60 years. Therefore, now the corn production is estimated to be 42.5 million tonnes.

“This year, there will be less corn overall,” the exchange said, “but also a change in the seasonal pattern of grain availability, with only a very small portion available for consumption and export in March to April.”

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Early corn yields are higher than those planted late and are usually shipped abroad during this period. Late corn is usually exported between July and September.

Currently, the BCR forecast totals corn exports for the current season at 27.5 million tonnes since the government of Argentina imposes different limits on corn exports to guarantee this ingredient’s internal supply.

  • As campaigns progress, the volume of grain allowed to be shipped abroad is adjusted. The current allowance for 2022/23 is 20 million tonnes.

Finally, as reported by Infobae, the drought impact is found on other important crops. “The BCR negatively adjusted the forecast for the soybean crop to 34.5 million tons, which, if materialized, would be the worst in 14 years. To this, we must add that wheat fell by 50% compared to the previous cycle and ended at 11.5 million tons”.

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