The president of the Chamber of the Oil Industry and the Center of Cereal Exporters set a date for when the first ship will be heading to China with local wheat.
Gustavo Idigoras, president of the Chamber of the Oil Industry and the Cereal Exporters Center (Ciara-CEC), announced that this summer will set sail from the port of Bahía Blanca the first ship that will export Argentine wheat to China, marking a historic event.
Idígoras declared to Bichos de Campo that the wheat market shows very encouraging prospects this year, highlighting that ““The FOB value of Argentine wheat is currently the most competitive in the world market.”
The executive explained that, after eight years of negotiations led by Senasa, with the support of the sector, China approved the entry of Argentine wheat with phytosanitary certification. Traditionally, China was not a major importer of wheat due to its limited production and low consumption. However, in recent years, the country has increased its consumption due to the westernization of their diet, especially for baked goods and other wheat products.
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Until now, China imported wheat mainly from the United States, Australia and Canada, known for its high quality. The recent approval opens a new opportunity for Argentine wheat in this demanding market.
Why the export of wheat to China is a historic event for the country
Argentina is a major producer and exporter of wheat worldwide. During 2023, 3 million tons worth US$1,050 million were exported to the world, which reflects the impact of the drought on the previous campaign. In 2022, Argentina exported wheat for a total of 14 million tons for US$4,315 million.
China is the world’s third largest importer of wheat with 10 million tons annually for a value of US$3.8 billion (2022), with Australia (with 5.7 million tons) and Canada (with 1.8 million tons) being the two main suppliers to the Chinese market.
Source: Ambito
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