February 2, 2005

 

 

Argentina Dec wheat, corn exports update

 

Argentina's monthly wheat exports continued to rise in December as the country's exports to nontraditional markets like Egypt and Kenya rose, the latest Agriculture Secretariat data show.

 

Argentina exported 1,698,486 metric tons of wheat in December, up 189% from the 588,311 tons shipped during the same month a year ago, according to the Secretariat.

 

Exports rose as Argentina's inexpensive wheat found new markets. Argentina sold wheat to 27 countries in December, up from 13 a year earlier.

 

Brazil, easily the top importer of Argentine wheat, bought 306,866 tons of wheat in December, down about 15% from 362,241 tons a year earlier.

 

The decline in sales to Brazil was more than compensated for by increased sales to other markets.

 

Egypt was the No. 2 destination in December, buying 378,806 tons against none a year earlier.

 

United Arab Emirates came in third with 202,773 tons compared with none a year ago. Bangladesh was fourth with 127,359 tons against none a year earlier. Kenya was fifth with 103,689 tons, compared with none a year ago.

 

Argentina exported 9,964,062 tons of wheat in all of 2004, up 65% from 6,036,660 tons in 2003.

 

Exports also rose because Argentina's production was up in 2004-05. Farmers harvested more than 16 million tons of 2004-05 wheat, according to the Secretariat. This is up from 14.5 million in 2003-04.

 

The U.S. Department of Agriculture has estimated that Argentina will export 10 million tons of 2004-05 wheat.

 

 

Corn Exports

 

 

Argentina also exported 683,826 tons of corn in December, up 23% from 555,012 tons during the same month a year ago.

 

Sales in Malaysia stood at 127,893 tons in December, compared with none a year earlier.

 

Saudi Arabia was second, buying 91,629 tons against none a year earlier. Chile ranked third in December, importing 88,628 tons, down from 147,411 tons a year ago.

 

Argentina is the world's No. 2 corn exporter, behind the U.S., according to USDA data.

 

In all of 2004, Argentina exported 10,282,946 tons, down 11.7% from 11,649,063 tons in 2003.

 

The USDA estimates that Argentina will export 12.5 million tons of corn in 2004-05.