January 22, 2008

Argentina 06-07 corn sales up at 13.99 million tonnes

Argentina had sold 13.99 million tonnes of 2006-07 corn for export as of January 18, up from 13.98 million a week earlier, the Agriculture Secretariat said Monday.

The reason for the increase in exports was not disclosed and may pertain to adjustments to previous figures.

In November 2006, the government froze the export registry in the face of soaring export declarations.

The Agriculture Secretariat announced the reopening of the corn export registry for 3 million tonnes in June of last year, but the quota was filled within a week.

By this time last year, Argentina had sold 8.6 million tonnes of 2005-06 corn.

No export commitments have been reported for the 2007-08 crop due to the registry closure.

The leading purchaser of Argentina's 2006-07 corn crop is Spain, with 1.6 million tonnes. Chile bought 1.15 million tonnes, while other major buyers are Egypt with 1.1 million tonnes, Malaysia with 1.05 million tonnes, Peru with 1.05 million tonnes, South Africa with 1.05 million tonnes and Algeria with 1.04 million tonnes.