August 18, 2004

 

 

Argentina's June Wheat Exports Up 97% From Year Ago

 

Argentina exported 776,375 metric tons of wheat in June, or about 97% more than the 393,748 tons shipped during the same month a year ago, the Agriculture Secretariat reported Tuesday.

 

Exports rose as Brazil, Argentina's top trade partner and the traditional buyer of about 90% its wheat exports, imported more in June.

 

Brazil bought 494,861 tons of Argentine wheat in June, or 30% more than the 379,541 tons it bought a year earlier.

 

But while exports to Brazil rose in June, Brazil is buying less Argentine wheat so far this year than a year earlier. As of Aug. 13, Brazil had bought 3.44 tons of 2003-04 wheat, as compared with 4.3 million a year ago.

 

South Africa ranked second among buyers of Argentine wheat in June, accounting for 97,481 tons compared with none a year earlier.

 

Kenya came in third with 61,350 tons against none a year ago.

 

As Brazil buys less wheat, Argentina has turned to selling the grain in an increasing number of markets elsewhere. Argentina sold wheat to 13 countries in June, compared to just four nations a year earlier.

 

During the first half of 2004, wheat exports totaled 4,350,498 tons, up almost 23% from 3,551,343 tons a year ago.

 

Argentina produced an estimated 14.5 million tons of 2003-04 wheat, compared with only 12.3 million tons the previous year.

 

The U.S. Department of Agriculture has estimated that Argentina will export 7.5 million metric tons of 2003-04 wheat. In 2004-05, exports will rise to 8.5 million, according to the USDA.

 

CORN EXPORTS

 

Meanwhile, Argentina exported 924,260 tons of corn in June, about 26% less than the 1,254,390 tons exported during the same month a year ago.

 

Sales declined as Peru and Spain, both big buyers of local corn, slowed imports in June.

 

Egypt was the top buyer in June, importing 103,270 tons, up from 87,374 tons a year ago.

 

Peru was No. 2 in June, accounting for 99,007 tons, compared with 146,532 tons a year earlier.

 

Spain ranked third with 98,732 tons against 176,986 in the previous year.

 

Morocco was a close fourth with 97,570 tons, less than the 107,941 tons it bought last year.

 

Corn exports during the first half totaled 5,780,750 tons, down almost 27% from 7,880,800 tons during the same period in 2003, the Secretariat reported.

 

Argentina was the world's No. 3 corn exporter in 2003, behind China and the U.S. The South American nation is set to recover the No. 2 spot this year as it exports more than China, according to the USDA estimates.

 

Argentina is on track to export 8.5 million tons of corn this year. Next year, this figure will rise to 11 million tons, according to the USDA.