December 5, 2007

Argentina extends wheat export registry closure 15 work days
 

Argentina extended the closure of the wheat export registry by another 15 working days, the Agriculture Secretariat announced on late Monday (December 3, 2007). Last Wednesday, the government closed the registry for five days in order to study the damage to the new crop from recent frosts.

With export declarations extremely high, the government is concerned that frost damage may reduce production and affect domestic supply.

The government will study the frost damage and current export declarations "to more precisely determine how much is available for export, with the assumption of ensuring correct wheat supply for the domestic market and avoiding price instability in basic food goods," the Secretariat said in a release.

As of November 29, exporters had declared more than 7 million tonnes of 2007-08 wheat for export, according to the Agriculture Secretariat.

About 11 million tonnes of wheat are expected to be available for export from the new crop, according to the US Department of Agriculture.

Three weeks ago, the Agriculture secretary opened the wheat export registry, which had been closed since March, and the pace of export declarations has been stunning.

The Secretariat sees 2007-08 wheat production of 15.4 million tonnes. The US Department of Agriculture sees 15.5 million tonnes of wheat coming from the Pampas this season.