Argentina Allows 6 Million Tons of Wheat to Be Exported

Argentina will allow the export of 6 million tons of wheat as the government eases restrictions on foodstuffs, Argentine Vice President Amado Boudou said.

The quota “allows more certainty and predictability” for farmers to sell their produce, Boudou said in a televised press conference today.

Argentina’s wheat crop for 2012-2013 may decline as farmers suffer drought in some areas and others elect to plant alternative crops or cheaper seeds, the Buenos Aires Cereals Exchange said in a June 14 report. Argentina’s 2011-2012 wheat crop declined 16.5 percent to 13.2 million metric tons compared with the year before, according to the Agriculture Ministry.

President Cristina Fernandez de Kirchner and her predecessor and former husband Nestor Kirchner have restricted exports of beef, corn and wheat since 2005.

To contact the reporter on this story: Matt Craze in Santiago at mcraze@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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