Argentine wheat exports currently below the 5-year average

Argentine wheat exports have exceeded 3.9 million tonnes since the beginning of the 2023/24 market year, from December to March 14, according to estimates from the Rosario Stock Exchange.

Such an export volume represents a 122% increase compared to the same period of the previous season, which saw substantially smaller crops. However, the current volume is 35% below the five-year average for the period, which is 6.1 million tonnes. Additionally, it is the second-lowest volume in the last eight years, wrote the Exchange in a statement. The harvest in 2023/24, totaling 14.5 million tonnes, was also the second-lowest in eight years.

The following chart uses DataLiner data to compare the monthly volume of wheat exports in containers from Argentina between January 2022 and January 2024.

Wheat Exports – Argentina | Jan 2022 – Jan 2024 | TEUs

Source: DataLiner (click here to request a demo)

Argentine wheat export prices have also been declining. Last week, reference prices at Up-River ports stood at US$ 220 per ton, a 38% drop compared to the previous year and the lowest level since January 2020. According to the Exchange, the price drop is largely due to the ample supply coming from Russia.

Source: BroadCast Agro

Click here to read the original news article: http://broadcast.com.br/cadernos/agro/?id=b3ZRK3hIRDdRQWJBa043OU42MGVqQT09

Sharing is caring!