December 10, 2009

 

Argentina's October wheat, corn exports fall as stocks dwindle

 

 

Argentina's corn and wheat exports dropped off sharply in October as stocks from the 2008-09 crop dwindled.

 

Both of the crops were hit hard by drought, which caused a sharp drop in production. Corn production during the 2008-09 season totalled 12.6 million tonnes, down from 22 million tonnes a year earlier.

 

The country exported 113,953 tonnes of corn in October, down sharply from 937,718 tonnes shipped a year earlier, according to the latest data from the animal health and sanitation service Senasa.

 

October's corn shipments were valued at US$20 million, compared with $203 million a year earlier.

 

Corn exports during the first 10 months of the year totalled 6,923,631 tonnes, down from 15,424,327 tonnes a year earlier.

 

Iran, Colombia, Algeria, Malaysia and Egypt were the leading destinations for Argentine corn exports during the period.

   

Wheat exports were also down sharply. Production last season fell to just 8.4 million tonnes from 18 million tonnes a year earlier.

 

Argentina exported 144,829 tonnes of wheat in October, down from 731,416 tonnes shipped a year earlier, according to Senasa.

 

October wheat exports were valued at US$32 million, down from US$217 million a year ago.

 

Wheat exports during the first 10 months of the year totalled 4,313,003 tonnes, down from 8,907,418 tonnes a year earlier.

 

During the first 10 months of the year, Brazil dominated the import of Argentine wheat, buying 2,380,741 tonnes. Iran and Peru followed with 367,286 and 304,581 tonnes, respectively.

 

October wheat flour shipments totalled 21,697 tonnes, compared with 30,297 tonnes a year earlier, while flour exports during the first 10 months of the year totalled 279,436 tonnes, down from 373,323 tonnes.