October 28, 2022

Projected wheat harvest in Argentina down again

The Rosario grain exchange announced on Wednesday that Argentina's 2022–2023 wheat harvest will be 13.7 million tonnes, a significant decrease from its earlier prediction of 15 million tonnes due to the prolonged drought that has severely affected the nation's farmers, Nasdaq.

Argentina is a significant international wheat supplier, and because of Russia's invasion of Ukraine, which has reduced the supply of grains worldwide, this role has gained more attention. Russia and Ukraine are both significant producers of wheat.

However, the country of South America has experienced several months of dry weather and late frosts that have severely impacted wheat yields. The harvest is expected to be the worst in seven years and significantly lower than the record 23 million tonnes a year earlier.

Over the past month, both the Rosario and separate Buenos Aires grains exchanges have repeatedly lowered their projections for wheat production.

Agronomist Cristian Russo of Rosario said there is an unprecedented drought, adding that more than half of the province of Buenos Aires, the main farming area of Argentina, was experiencing the lowest level of water reserves in 30 years.

The last time wheat was produced at this level was in the 2015–16 season, when 10.9 million tonnes were produced.

In contrast to the 6.6% previously predicted, 9.2% of the area planted with wheat for the 2022–23 growing season will not be harvested due to its poor condition, according to Russo.

-      Nasdaq