Argentina Suspends Corn Export Ban, Limits Daily Shipments – 01/11/2021 – Market

Argentina has lifted the ban on corn exports announced in December and will opt for a temporary daily limit of 30,000 tonnes on overseas sales, the agriculture ministry said on Monday (11), walking away of the more restrictive measure she had exasperated. farmers in the country’s grain industry.

The world’s third-largest grain supplier on December 30 announced a two-month halt in corn exports in an attempt to control food prices in the domestic market amid a long recession and the Covid pandemic. 19.

The agriculture ministry said in a statement on Monday it had reached agreements to secure domestic supplies of maize and ease local prices against fluctuations in international markets, ending the total ban on shipments. .

The Argentine beef and poultry industry uses corn for fattening. The government initially predicted that by keeping more maize in the country, the cost of feeding livestock would drop, thereby increasing the national food supply.

But farmers protested the suspension last week and went on strike, saying the outright ban had lowered production and forced them to moderate investment.

Argentina’s soy, corn, wheat and sunflower associations said such intervention in export markets undermined confidence and would lead to an immediate withdrawal of investment.

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