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According to the Spanish Ministry of Agriculture in its foreign news bulletin, data from the Cordoba-Argentine Grain Exchange (BCCBA) indicate that corn production will be the third-best harvest in history.
The production is expected to be around 58 million tons, which will allow 34 million tons of commercial grain to be available for exports, which again places corn above soybeans.
According to the Argentinean Ministry of Agriculture, Livestock, and Fisheries, with 10% of the total harvested area, 21.1 million tons of 2020-2021 corn have already been acquired. In the previous season, exports amounted to 36.5 million tons, 17.25 million tons for animal feed and 3.89 million tons for industrial use, such as bioethanol (1.5 million tons per year, according to estimates by Maizar, the Argentine Corn and Sorghum Association). Over the last ten years, corn has experienced constant growth in planting area and production, from 3.6 million hectares to 9.5 million hectares, with production increasing from 22.6 million tons to 58.3 million tons.
According to studies by the Cordoba Grain Exchange (BCCBA), this historic harvest, together with a lower international stock, will generate a favorable export balance above the average of the last three seasons. This is not only a good business opportunity, but also a good international positioning opportunity. It should be noted that corn is Argentina's second largest agro-industrial export complex, exporting grains and by-products for a total of 6.15 billion dollars in 2020, with a 2.1% increase over the previous year. Turnover accounted for 11.2% of Argentina's foreign sales. However, added value is one of the corn complex's unresolved issues. Of the total produced, 70% is exported as grain and the rest is destined for different industrial uses, such as bioethanol.
April 15, 2021/ Boletín Noticias del Exterior-MAPA/ Spain.
https://www.mapa.gob.es
