Argentina resumes corn exports

On January 11, the Argentine government announced the partial resumption of the country’s corn exports after negotiations with representatives of the Argentine Agro-Industrial Council. According to a statement released by the country’s Ministry of Agriculture, the resumption will occur because there is a guarantee of corn supply to supply the domestic market. The shipments will be restricted to 30 thousand tons per day, valid for both the new agreements for sales abroad and for deals signed before the suspension.

Announced on December 30, the suspension of exports was expected to last until the beginning of March. Last week, entities such as the Argentine Rural Society and the Argentine Agricultural Federation protested by announcing the complete interruption of sales of the grain for a period of 72 hours. The strike started on the 11th, but until this edition went to press, the protest leaders had not announced if it would actually continue until the 13^th. Argentina is one of the three largest corn exporters in the world.

According to estimates by the United States Department of Agriculture (USDA), the country should ship 34 million tons from the 2020/21 harvest, behind only the USA (67.3 million) and Brazil (39 million).

Source: Valor Econômico

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