Argentina: Wheat exports reach record during first quarter

RIO DE JANEIRO, BRAZIL – Six months after the start of the 2021/22 wheat campaign in Argentina, the tons exported in the first semester exceed 12.7 million tons, a historical maximum for the same period compared to previous years, according to the Rosario Stock Exchange (BCR).

In fact, except for the 2016/17 campaign when 12.7 million tons of grain were exported, the volume exported between December and May of the current business cycle is higher than what was exported in the entire campaign considering previous years.

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In addition, international prices have made the value of grain wheat exported in the first semester exceed US$3.740 billion, also a record for the same period. Not satisfied with this, the difference with the previous record of 2007/08 is almost double, given that at that time exports were achieved for US$2.080 billion.

Although Brazil remains the main destination for Argentine wheat shipments (it received 2.6 million tons), a marked growth in Africa’s share of cereal shipments can be seen. According to the shipping agency NABSA SA, in the first six months of the 2021/22 business cycle, about 5.9 million tons were shipped to African coasts, almost triple what was shipped in the first half of the previous year.

Usually, due to geographical proximity, African countries tend to receive wheat from Russia or Ukraine, especially the countries of northern sub-Saharan Africa. However, it is clear that the war that is taking place between the two nations, added to the greater Argentine production in the current campaign, has led several of these countries to opt for the Argentine cereal.

Finally, the increase in shipments to Asia also stands out. Between December and May, more than 2.3 million tons were exported to that continent, more than double the 1.1 million tons of the previous period.

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