Argentine mills assure that there will be no wheat shortages

Argentine mills ensure that there will be no wheat shortages for both export and domestic consumption.

“There is a huge amount of wheat available in Argentina, which assures that there will be no wheat shortages to produce flour neither for Argentina nor Brazil,” says Diego Cifarelli, president of the Argentine Federation of the Milling Industry (Faim).

The Brazilian industry purchases roughly 60% of the wheat it consumes on the international market each year. Argentina, the largest supplier to the local industry, accounts for 85% of the total.

Cifarelli’s statement followed the news that Argentina’s exports and sales in the domestic market were paralyzed over the week due to the expressive increase in international prices of grain.

Since the conflict between Russia and Ukraine began, international cereal prices have increased by 36.6%, based on contracts traded on the Chicago Stock Exchange (CBOT).

Cifarelli sees the stoppage in the market last week as only “punctual” due to the soaring international prices.

According to the official, Argentina has already committed all the available volume for exports.

Source: Canal Rural

To read the full original article, please see:

https://www.canalrural.com.br/noticias/agricultura/moinhos-argentinos-asseguram-que-nao-faltara-trigo-tanto-para-exportacao/

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