August 22, 2008

Argentina will approve about 1 million tonnes more wheat for export from the 2007-08 crop, state news agency Telam reported Thursday (August 22).

The head of the national agricultural trade office (ONCCA) Ricardo Echegaray, said that 1.4 million tonnes of wheat remains available for export and will be approved for shipment, but that total will include about 350,000 tonnes of wheat approved in July, but not yet shipped, according to Telam.

The Argentine government has already authorized the export of about 2 million tonnes this year. Wheat exports were blocked in November in an effort to ensure domestic supply and rein in soaring flour prices.

ONCCA has pegged 2008 domestic wheat supply needs at 6.1 million tonnes. Farmers grew 16 million tonnes of wheat last season, according to the Agriculture Secretariat.

The government has not published total wheat export commitments since June 6, when 7.2 million tonnes had been sold.