Posted on July, 30, 2024 at 08:59 am
Argentina is expected to produce and export more wheat in 2024-25 based on an increase in area, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
Wheat production is estimated at 18.6 million tonnes, up from 15.7 million tonnes in 2023-24. Planted area increased to 6.2 million hectares with improved conditions in April and May encouraging farmers to plant more than their original plans.
Exports are estimated at 12.4 million tonnes, up from 9.2 million tonnes in the previous season. The leading destination will be Brazil, followed by Indonesia and several African countries, the FAS said.
Corn production is estimated at 49 million tonnes, a drop of 2 million tonnes from 2023-24. Planting area is down 200,000 hectares.
“The planting of the new crop will begin in late August/early September, and doubts remain what the total acreage will be after severe damage to the 2023-24 corn crop caused by an unusually severe attack of corn stunt disease in central-northern Argentina which cut production by more than 15 percent,” the FAS said. “In the northern areas, many farmers have now planted wheat to at least maintain some crop rotation.”
Exports are estimated at 35.5 million tonnes in 2024-25 up from 34 million in 2023-24.
“Farmer selling is slower than usual as most farmers are in a relatively good financial situation and are holding corn and soybeans as much as possible, expecting a rebound in prices,” the FAS said.
Source: World Grain