Bloomberg News

Argentina Will Delay Corn Export Permits Until April

March 09, 2012

Argentina, the world’s second- largest corn exporter, will delay granting more export permits for the grain until April as it studies crop damage caused by a drought, Agriculture Minister Norberto Yauhar said.

The government will issue permits on April 19 that will surpass the 7.5 million ton allocation that has already been granted, Yauhar told reporters in Buenos Aires today. A second and final issuance of permits will take place within 60 days, he said.

The government estimates this year’s corn harvest will total between 21 and 22 million metric tons, Yauhar said. Rains in January and February improved parched crops that were damaged by a drought late last year, he said.

The downpours so far this year “may mean we get similar yields that result in the exports we have had in previous years,” he said.

Argentine President Cristina Fernandez de Kirchner limits exports of some food products to ensure sufficient supplies are available in the domestic market. Argentina will need 8 million tons of this year’s corn crop for domestic use, Yauhar said.

Yauhar also announced the government will issue export permits for another 3.6 million tons of wheat on March 12.

To contact the reporters on this story: Matt Craze in Santiago at mcraze@bloomberg.net; Silvia Martinez in Buenos Aires at smartinez19@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net


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