Argentina Corn Exports Surge as Ukraine's Supplies Decline

Argentina's corn exports are expected to reach a record 10 million tonnes in August-September, surpassing usual volumes due to increased demand from North African countries.

The main driver of growth is Argentina's competitive pricing and volume, noted Gustavo Idigoras, head of CIARA-CEC. He added that the country's current harvest is expected to reach 71.7 million tonnes, a 20% increase above the previous record.

North African countries have traditionally purchased grain from Ukraine but are now actively establishing trade links with Argentine exporters. Statistics show a 45% increase in corn shipments to North Africa since the beginning of the year, reaching 6.5 million tonnes.

Morocco leads in terms of purchasing growth, with imports increasing by 133% compared to last year. Egypt and Algeria also saw significant increases, with volumes up 48% and 10%, respectively. Analyst Javier Preciado Patiño predicts that Ukraine's inability to export grain will give other suppliers access to its foreign markets.