Argentina’s Wheat Harvest Set to be Record in 2021/22

Argentina’s Ministry of Agriculture announced that the wheat harvest expected for 2021/2022, still under development, should be a record and exceed 22 million tons. Data show that the current production is three times greater than consumption in the domestic market. Thus, exports are estimated at 12.5 million tons, an increase of 1.2 million compared to the total exported in the previous harvest.

When the final wheat harvest numbers get released in mid-January, the veracity of the record claim will be confirmed. During the second half of January, all members of the wheat production chain will be called to determine the equilibrium volume – that is, how much will be exported and how much will remain in the domestic market for supply. “With increased crop areas, investments in technology, modern agricultural practices combined with favorable weather conditions, the producers were able to make a historic harvest possible,” said the minister of ministry, Julián Domínguez.

On the 16th, in a weekly report, the Buenos Aires Stock Exchange reported that the wheat harvest was 65% complete, an increase of 11.6% in the week. In the annual comparison, there is a delay of 1.4 percentage points. The national average yield in harvested areas is 3,140 kilos per hectare, as opposed to 2,950 kilos in the previous week. The production estimate was kept at 21m tonnes, but it could be raised if yields remain high in Buenos Aires, argued the organization. The share of the wheat crop commercialized in good or excellent conditions increased from 67% to 81%, vis-à-vis 35% a year ago. The share in normal conditions increased from 30% to 18%.

Source: Money Times 

To read the full original article, visit the link: https://www.moneytimes.com.br/safra-de-trigo-2021-22-da-argentina-deve-ser-recorde/

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