Posted on December, 2, 2024 at 04:38 pm
Argentina wheat traders are seeking to close their first significant sales to China since the 1990s, according to the head of the country’s top crop-exporting group.
China is making overtures for wheat purchases after it authorised Argentine shipments earlier this year, said Gustavo Idigoras, president of CIARA-CEC, whose members include the major agricultural trading houses. China also recently authorised purchases of Argentine corn, though no cargoes have yet sailed.
The move comes as Argentina, one of the world’s top wheat suppliers, is on track for a bumper harvest. At the same time, tariff threats from US president-elect Donald Trump are raising hopes among South American traders for greater export opportunities.
Growers in and around the southern half of Buenos Aires Province, who will harvest their golden wheat fields in the coming weeks, are forecast to produce 3.9 million metric tons, 18 percent more than a year ago when plants endured a drought. That’s according to a tour of farmland this week organised by the Bahía Blanca Grain Exchange.
Source: BA Times