Argentina to raise its 2022-2023 wheat export quota

The country aims to take advantage of high international prices

{reg}[PAID={"id":"12,13,14","title":"The content you tried to access is only available to paid subscribers.","link":"1"}]Argentina announced on Saturday, March 19, that it will increase its annual wheat export quota for the 2022-2023 season by 8 million tons to a total of 10 million tons, to take advantage of high international prices, reports ThePigSite.

According to the Argentinean Agriculture Minister, Julian Dominguez, the decision was made in a tentative trial to make the most of the international record prices. The new increased export quota remains lower than in the previous 2021-2022 cycle, in which Argentina allowed exports of 14.5 million tons of wheat.

Argentina is a key producer of grains. It had previously limited exports of wheat in order to ensure domestic supply and to avoid local price hikes, however, amid Russia war in Ukraine, it decided to raise exports.

It is important to highlight that Russia and Ukraine together usually provide 30 percent of the global supply of wheat, with the recent conflict, wheat export prices have skyrocketed in the international market.

The Argentinean next wheat season will only begin when planting starts in May.