Argentina authorizes export of 8 mln tonnes of corn from March 2015 – RTRS
BUENOS AIRES, Nov 6 (Reuters) – Grains powerhouse Argentina has authorized the export of 8 million tonnes of corn and 1.5 million tonnes of wheat and wheat flour, cabinet chief Jorge Capitanich said on Thursday.
The wheat quota is to be exported from Dec. 15 while the corn may be shipped outside the country from March 15, 2015. Local producers are harvesting the 2014/15 wheat crop now, while the 2014/15 corn harvest begins in March.
The South American country restricts the export of corn and wheat to ensure adequate domestic supplies and curb price increases. Farmers say the quota system damages profitability.
“These volumes can be altered according to how planting and harvesting proceed,” Capitanich said during an official ceremony.
Three weeks ago, the Argentine Ministry of Economy authorized the export of 500,000 tonnes of corn and 400,000 tonnes of wheat from the remains of the 2013/14 harvest, plus an additional 100,000 tonnes of wheat flour. (Full Story)
(Reporting by Maxi Rizzi; Editing by Richard Lough and Lisa Shumaker) ((Email: email@example.com; Tel: +54 11 451 005 21; Reuters Messaging: firstname.lastname@example.org))
Keywords: ARGENTINA GRAINS/EXPORTS