Argentine gov’t set to meet wheat sector amid concerns over crop

The government of Argentina is set to meet with wheat millers and exporters this week amid concerns over the size of this year’s crop due to a severe and ongoing drought, a government official and an industry source said on Wednesday, October 12.

Domestic millers are worried about a lack of wheat after sharp cuts to production forecasts.

See below the track record of exports of wheat (HS code 1001) from Argentina between January 2019 and August 2022, according to DataLiner.

Wheat Exports from Argentina | Jan 2019 – Aug 2022 | TEUs

Source: DataLiner (click here to request a demo)

“There we will look at the issues they raise. Nothing is defined yet,” the spokesperson said when asked about the meeting and if there could be any potential additional export restrictions put in place to protect domestic supply.

A spokesperson for Argentina’s economy ministry, which sits above the agricultural secretariat, when asked about potential tighter caps on wheat exports said: “No. It’s not like that.”

A source from the wheat milling industry told Reuters he had been summoned by the agricultural secretariat for a meeting tomorrow but gave no further details.

Argentina, a major wheat exporter, has seen its 2022/23 wheat harvest forecast slashed by the major Rosario grains exchange to 16.5 million tonnes, which would be the lowest in seven years and far below a bumper 23 million tonnes in 2021/22.

The country’s producers have already formally declared overseas sales of 2022/23 wheat of 8.85 million tonnes, official data show. There is an existing export cap of 10 million tonnes for the season’s wheat harvest.

Source: Reuters

To read the full original article, please go to: https://www.reuters.com/article/grains-argentina-wheat/argentine-govt-set-to-meet-wheat-sector-amid-concerns-over-crop-idUSL1N31D2VV

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