Buenos Aires, April 10th. Today, the Buenos Aires Grain Exchange (BCBA) organized the 2019/20 wheat campaign outlook, with the presence of the most influential leaders of the value chain.
Officials from the BCBA said that they estimate that farmers will increase the planted area to 6.4 million hectares, 200K above the last campaign. As it is expected good weather along the campaign, the first estimation is placed at 20.6 million metric tons, marking a new record harvest.
For the barley, the area planted would round one million hectares and output was estimated at 4 million metric tons.
Also, is expected a larger use of fertilizers and fungicides. Farmers would use 1.4 MMT of fertilizers and 3.5 million liters of fungicides, increasing 3 to 7% above the last campaign.
“A Niño event, that implies rains excess that damage the wheat crops, is not expected this year. A neutral year or a Niña event, that benefit the crop, is so much probable”, climatologist Eduardo Sierra told to the audience.
The chairman of the milling industry (FAIM), Diego Cifarelli, showed very optimistic about the trend of the wheat production in the country and anticipated that he thinks that 2020/21 wheat output could rise to 22 million metric tons. But in his speech, broker Javier Bujan anticipated that it projects a 30 MMT harvest to 2030.
Meanwhile, Gustavo Idigoras, chairman of the Cereals Exporters Chambers (CEC) criticized the unilateral decision of Brazil, to grant the US with a 750,000 wheat tons quota duty-free, but he also noted that Argentina has broken Brazil’s dependence and now the country is supplying 38 foreign markets, like Indonesia or Vietnam, where Argentine wheat is the main origin.