Wheat sets new record of exports in Argentina; volume beats soybeans

15.06.2017

The volume of wheat exports in Argentina reached 8.9 million metric tons in the 2016/2017 season crop and would beat a new record, according to the Rosario Board of Trade. In the 2011/2012 season, the previous registered for the winter cereal, the sales reached a total of 13 million metric tons.

The Rosario Board of Trade forecasts that a record volume of corn would also be exported with the total of 24 million metric tons that would be sold abroad with the record reached by mid-June.

The bad news would just stay with soybeans. The oilseed has the worst sales in six years and total sales accumulated in the year is four million metric tons, which is less than wheat, and below the average of 5.85 million metric tons of the last five seasons. The reasons for the lower exports of soybeans is the local export taxes at a rate of 30 percent and also the lower price of the oilseed in the international market.


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