Amid the dollar shortage across the country, the wheat harvest will bring good news to Javier Milei’s government: it will contribute approximately 2,240 million dollars in the next months.
The start of wheat sowing was not the most propitious, in many areas the lack of humidity meant that the cultivated area at a national level was reduced to 5.9 million hectares, 3.28% less than previous cycle. Subsequently, in the development of the cereal, rainfall was also scarce, but as spring advanced, especially in November, the El Niño phenomenon changed the landscape and the rainfall that occurred cushioned the production losses.
According to private estimates, The harvest will be between 14 and 15 million tonsat least 40% more than last year, but less than the 18 million tonnes expected at the start of the campaign.
Considering that 5 to 6 million tons are milled in the domestic market and that the rest is exported, according to data from the Rosario Stock Exchange, approximately 2,240 million dollars would enter the country. double compared to the previous cycle marked by the historic drought, with a shipment volume close to 9 million tons.
“Although this figure is far from the more than 12 million tons that Argentina exported, on average, in the previous 5 years, 2017-2022, it is far higher than the 3.2 million tons sent abroad in the cycle that ends,” Rosario said. entity.
Meanwhile calculate that in total lThe country’s major crops and by-products will bring in $35.8 billion this year.
According to official data, As of Dec. 20, producers had sold about 33% of the total wheat crop: Purchases of 3,719,500 tonnes from exports and 1,060,300 tonnes from industry are declared.
“The price of wheat locally is being traded 220/225 dollars a ton last days. Despite being within a period of downward seasonality due to the arrival of the harvest, the delays in harvesting in the south of Bs As – the main wheat area – added to the lower rate of sales by the producer lead these values to be maintained. on the demand side,” he told AZGroup grain analyst Catalina Ferrari.
In turn, 5 million tonnes of food grains remain to be shipped which were extended to 2023 by the previous government. And how was he able to find out Clarion, this amount would be extended (renewed) again. “This helps decompress grain prices” said a source familiar with the business.
Thus, exporters alone recorded around 450,000 tonnes of food grains in the Foreign Sales Affidavit Register (DJVE) against 8.8 million tonnes on the same date in the previous cycle.
Source: Clarin
