Argentine wheat exports break records

In Argentina, the first two months of the 2019/20 wheat season saw record export levels. According to data from NABSA AS, a shipping agency, December and January volumes combined reached 5.5 million tons, an all-time record. This despite the drop in the water level that the Paraná River suffered in the last month of 2019.

The level of water in the Paraná River recovered in January, rising one meter compared to mid-December levels. This allowed for the loading and shipment of 3,476,053 tons of grain during January, the highest ever volume of wheat shipped in a single month.

Almost all ships loaded with wheat are heading to Southeast Asia, replacing purchases normally made by Australia. The second most popular destination is South America (predominantly Brazil), then Africa and, finally, other destinations in Asia and North America.

Source: Rosary Bag

Wheat price

The table below shows the global drop in the price of wheat. According to the Rosario Exchange, Argentine wheat has been losing competitiveness.

Source: Rosary Bag

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