Argentina Corn Exports Soar as Ukraine's Black Sea Disruptions Bite

Argentina's corn exports to North Africa have surged in the first seven months of 2026, driven by disruptions in Black Sea logistics. Shipments to Morocco, Egypt, and Algeria reached 6.4 million tonnes between January and July, a 42% increase from the same period in 2025.

The value of these sales, based on an average FOB price of about US$220 per tonne, was just over US$1.4 billion.

Morocco posted the sharpest increase, with its purchases of Argentine corn rising by 114% to 1.5 million tonnes in the same period. Egypt increased purchases by 50%, from 1.6 million tonnes to 2.4 million tonnes, while Algeria bought 2.5 million tonnes, up 14% from 2.2 million tonnes a year earlier.

The shift reflects a disruption in traditional supply routes, as repeated attacks on Black Sea ports and logistics infrastructure have made shipments from Ukraine more difficult and costly.