September 27, 2004

Argentina's July Wheat Exports Up 33% From Year Ago
 
Argentina exported 577,180 metric tons of wheat in July, or almost 33% more than the 434,772 tons shipped during the same month a year ago, the latest Agriculture Secretariat show.
 
Exports rose even as Brazil, Argentina's top trade partner and the traditional buyer of as much as 90% its wheat exports, bought less in July.
 
Brazil bought 384,670 tons of wheat in July, or 8.4% less than the 420,072 tons it bought a year earlier.
 
Brazil is buying less because its own wheat harvest is larger, reducing demand for imported wheat. But while demand from Brazil is down, Argentina is compensated in July by exporting more to non-traditional markets such as Mozambique, Sri Lanka and South Africa.
 
In July, Argentina shipped wheat to 10 countries, compared with only five during the same month a year ago.
 
Sri Lanka ranked second as the biggest buyer of Argentine wheat in July, accounting for 62,281 tons compared with none year earlier.
 
South Africa came in third with 48,880 tons against none a year ago. Mozambique ranked fourth, buying 32,040 tons compared with none a year earlier.
 
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 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.