Argentine corn exports estimated to decrease by 45% in 2022/23, says BCR

The Rosario Stock Exchange (BCR) estimates that Argentine corn exports may reach 20 million tonnes in the 2022/23 crop season, a reduction of almost 45% compared to the previous campaign.

To date, the BCR has reported external sales of 11.2 million tonnes, less than half of what had been sold abroad at the same point in the previous campaign (22.9 million tonnes) and well below the equilibrium volume established by the Ministry of Agriculture, of 20 million tonnes.

With an estimated initial stock of 6.3 million tonnes, the total grain supply in the campaign amounts to 38.3 million tonnes, 30% lower than the total grains available in the previous cycle.

See below Argentina’s shipments of corn via maritime means from Jan 2019 and Feb 2023. The data is from DataLiner.

Corn exports from Argentina | Jan 2019 – Feb 2023 | TEU

Source: DataLiner (click here to request a demo)

“It is estimated that there will be an increase in the use of corn for animal feed. This is mainly due to the effects of the drought on forage supply,” the BCR concluded.

The decrease in exports has significant implications for Argentina’s economy, as it is the world’s third-largest corn exporter after the United States and Brazil.

Source: Canal Rural

To read the original news report, please check: https://www.canalrural.com.br/radar/milho-exportacoes-argentinas-podem-cair-45-na-safra-22-23-bcr/

Sharing is caring!