INSUBCONTINENT EXCLUSIVE:
drought.Argentina, a major global grain supplier, faces declining yields after prolonged dry conditions and high temperatures damaged crops
at 49 million metric tons, a sharp drop from the earlier 52 million
Argentina plays a crucial role in global agriculture as the largest exporter of soybean oil and meal and the third-largest corn exporter.The
country competes with the U.S
in global grain markets, making its production levels critical to international trade
The lower output comes as global corn stocks for 2024/25 are expected to hit their lowest levels in a decade due to strong demand and
yields last year.Farmers in Argentina report smaller-than-usual corn cobs and yellowing leaves caused by the adverse weather
Recent rains have provided limited relief but failed to reverse the damage.USDA Lowers Argentina Crop Forecasts as Drought Hits Global Grain
(Photo Internet reproduction)Analysts note that while some regions benefited from rainfall, others remain severely affected
The Buenos Aires Grain Exchange has also revised its forecasts, estimating soybean production at 49.6 million metric tons and corn at 49
has responded by temporarily lowering export taxes on soy products until June 2025 to boost foreign currency reserves amid falling export
reduced output could tighten markets further, impacting prices and trade dynamics worldwide.
