November 28, 2011
Argentina will approve the additional export of 2.5 million tonnes to 3.5 million tonnes of 2010/11 wheat next week, said a senior Agriculture Ministry official last Friday (Nov 25).
Argentina's government controls wheat and corn exports through a quota system designed to guarantee affordable local food supplies and help tame high inflation, a framework that irritates farmers.
"I calculate that between 2.5 million and 3.5 million tonnes will be freed," Deputy Agriculture Secretary Oscar Solis said.
The government says the entire 2010/11 wheat crop was 15.8 million tonnes. Argentina's Agriculture Ministry forecasts wheat production of 12 million tonnes in the 2011/12 season.
So far, farmers have brought in 18.8% of the 2011/12 wheat area, estimated at 4.6 million hectares.
The South American country is a leading global wheat exporter and a key supplier to neighbouring Brazil.