November 17, 2009
Argentina 2010 grain exports to rise by US$3 billion on-year
Argentina is expected to export about US$20 billion worth of grain in 2010, US$3 billion more than this year, but still down US$8 billion from 2008, according to the Rosario Grain Exchange.
The recovery will come as good news to farmers, who saw a brutal drought cut output last season by about a third.
The government will also get a boost from the US$6.3 billion the exchange estimates will be collected in export taxes.
Total grain output is seen at 77 million tonnes, up from 63 million tonnes in 2008-09, but off the high of 96 million tonnes in 2007-08, the exchange said.
