Argentina's government approved an additional 2.7 million tonnes of 2010/11 wheat for export, boosting the total to 11.1 million tonnes, Agriculture Minister Julian Dominguez told reporters on Tuesday. The country's deputy agriculture secretary told Reuters on Friday that between 2.5 million and 3.5 million tonnes of old season wheat would be cleared for sale abroad.
Farmers are now starting to harvest the 2011/12 crop. Dominguez said 2011/12 wheat production will reach 13.5 million tonnes, compared with the 12.0 million tonne forecast in the government's official monthly crop report. He also said the 2011/12 corn crop would likely reach a record of 30 million tonnes. The government has not given an official estimate for that grain. Argentina is one of the world's largest suppliers of corn and wheat. The government uses an export quota system to ensure affordable food supplies at home, regulating sales abroad through export permits.
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