February 1, 2005

Argentina's 2004 corn exports at US$1.179 billion

Argentina exported US$1.179 billion worth of corn in 2004, the national statistics agency, Indec, reported Monday.

This marks a decline of 3.0 percent, from the US$1.215 billion of corn Argentina shipped in 2003.

Indec did not say how many tons of corn were exported last year.

Argentina is the world's No. 2 corn exporter behind the U.S., according to the U.S. Department of Agriculture.

Corn exports were down in part because local output was down.

Argentina harvested 13.5 million tons of corn in 2003-04, according to the Agriculture Secretariat. This compares with 14.7 million tons a year earlier. In addition, a growing domestic poultry industry is consuming more corn, leaving less for exports.

The Secretariat expects 2004-05 corn production to jump to between 18 million and 19 million tons, depending on climate.

Farmers will start collecting the 2004-05 corn harvest in February.

Argentina exports about 70% of its annual corn production.