Argentina is the third largest exporter of corn in the world and due to abundant rainfall due to the El Niño climate phenomenon, its production is on track to exceed 52 million tons of cereal.
The corn harvest 2023/24 from Argentina has “very good chances” of exceeding the 60 million tonsabove the current record estimate of 59 million tonsthanks to extensive rains, an analyst from the Rosario Stock Exchange (BCR).
Argentina is the third largest exporter of corn in the world and due to the abundant rainfall resulting from the El Niño climate phenomenon, its production is on track to exceed 52 million tons of cereal, the highest record to date, of the 2020/21 campaign.
“Week after week the water continues to be present,” said Cristian Russo, the head of agricultural estimates at the BCR, in reference to the beneficial rains that the agricultural areas of Argentina have been receiving for months.
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“Argentina is heading towards a great harvest of corn and also soybeans“said Russo, mentioning Argentina’s other main crop. Last week the BCR raised its estimate for lSoybean harvest 23/24, at 52 million tons.
In terms of foreign exchange earnings, the soybean sector will be the main export complex with more than US$20,000 million, but the strong corn recovery with a contribution of US$8.3 billion. The wheat complex, meanwhile, would generate shipments of US$2.4 billion.
Source: Ambito
