Argentine wheat exports are expected to grow 26% in 2021/22

Argentine wheat exports should reach 12 million tons in the 2021/22 harvest, which is currently being sown, according to a new estimate released by the Buenos Aires Cereals Exchange. If confirmed, the volume, the highest since 2016/17, will be 26.3% higher than calculated for the current season.

The increase is mainly due to the expectation of production growth, projected at 19.15 million tons, compared to 17 million in 2020/21. In this scenario, the internal wheat milling should also grow in 2021/22, by 8.3%, and reach 6.5 million tons.

The following chart, made with DataLiner resources, shows a history of Argentine exports of wheat and corn per container since 2018:

Argentine Exports of Wheat and Corn (HS 1001 and 1005) via Container | Jan 2018 to Apr 2021 | TEU

Graph source: DataLiner  (To request a DataLiner demo click here)

Corn shipments
Also according to the Buenos Aires Cereals Exchange, corn shipments from Argentina totaled 36.26 million tons in the 2019/20 cycle, down 3% compared to the previous crop year. Grain processing for biofuel production also fell in the country, from 1.55 million tons in 2018/19, to 1.1 million tons in the season just ended.

On the other hand, Argentina destined an additional 1.3 million tons of corn to produce animal feed, and the total volume reached 11.8 million tons. Argentina produced 51.5 million tons of corn in the 2019/20 harvest.

The market’s initial estimate for Argentine corn exports in 2020/21 is 33 million tons out of the 48 million tons produced.

Source: Valor Econômico

To read the full original article, access the link below:

https://valor.globo.com/agronegocios/noticia/2021/06/15/exportacoes-argentinas-de-trigo-deverao-crescer-26percent-em-202122.ghtml

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