BUENOS AIRES, ARGENTINA — Rumors are circulating that Argentina will set export limits on wheat in an attempt to ensure domestic supplies, Reuters reported.
The government recently tried to limit corn exports but changed its mind after growers objected.
“In the case of wheat, we are seeing what we can do to ensure that we have enough in the country without closing the export market,” Agriculture Minister Luis Basterra told local radio, Reuters reported. “There is room for the wheat value chain to allow for the provision of the domestic market.”
Argentina is the world’s No. 7 wheat supplier. Most of the wheat exports go to Brazil, which purchased 4.5 million tonnes in 2020.
Gustavi Idigoras, head of Argentina’s CEC export companies’ chamber, told Reuters that they will meet with the government in the coming days. He said they do not want to intervene in the market, but everything is on the table.
Russia, the world’s top wheat supplier, has approved a higher export tax on wheat to start on March 1.
The Argentine government said that of the 17.2 million tonnes of 2020-21 wheat recently harvested, 10 million tonnes will be exported. Official data also show that exporters already have bought 8.9 million tonnes of 2020-21 wheat, Reuters said.