November 28, 2011
 
Argentina to allow up to 3.5 million tonnes more wheat export
 

 

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.