March 29, 2005

Low prices, promising weather boost Argentina's wheat exports

Low prices of wheat and favourable weather conditions may lift Argentina's wheat exports by 26 percent in 2005.

Argentina could export 12 million tonnes of wheat in the marketing year ending November 30, up from 9.56 million tones in the previous year.

With overseas buyers attracted by the low prices, Argentina is seen to remain as a competitive player in the global wheat market.

Wheat production in South American nation may increase to 16 million tonnes from 13.5 million tonnes a year ago due to promising weather conditions throughout the growing season. However, the figure could fall to 15.5 million tonnes in the year starting December 1, 2005.