September 27, 2013
Argentina sees 50 million tonnes soy, 30 million tonnes corn in 2013-14
Based on preliminary production estimates, Argentina's agriculture minister expects 2013-14 soy crop to be above 50 million tonnes while corn can reach 30 million tonnes.
The agriculture minister Norberto Yauhar also advanced that caps on wheat and corn exports could be lifted in the near future. Argentina limits exports of the two cereals with the purpose of ensuring the domestic market is well supplied and impedes sudden price increases. However the measure is much criticised by farmers since they claim it affects profits and planning for future crops.
"Next agriculture year (2013-14), the soy crop will be above the 50 million tonnes, while with corn, we are working on a floor of 30 million tonnes" added the minister.
In the previous crop year 2012-13, Argentina harvested 49.3 and 32.1 million tonnes of soy and corn. Argentina is the world's leading exporter of soyoil and soy flour and the third of corn.
Yahuar also revealed that the government of President Cristina Fernandez which has been in constant dispute with farmers over prices, taxes and caps, is considering eliminating restrictions on exports of corn and wheat.
Nevertheless as a first approach the government could announce the volume of both cereals which could be exported with greater anticipation than in previous occasions, usually a few months before the grains are sown.
Argentina is a major exporter of wheat, although most shipments end in neighbouring Brazil.