Argentina’s gov. to use tax, tech as it bids to grow 200m mt by 2030 В 

Argentina’s plan to push grains production past 200 million mt over the next decade will look at tax incentives, reclaiming land...

Argentina’s plan to push grains production past 200 million mt over the next decade will look at tax incentives, reclaiming land and boosting yields as measures to meet its target, a ministry spokesperson told Agricensus Monday.

Initial work will focus on technical aspects and identifying specific policies in partnership with the private sector to help deliver the increase in grains production, the spokesperson said.   

The spokesperson also said that the main crops in terms of planted area – corn, soybean and wheat – appear to have opportunities to further increase their average yields.

The national government published a resolution explaining the initiative in the Official Gazette on October 14, stating that the country’s agricultural sector has the capacity to expand grain production by approximately 60 million mt within the next decade.

Under this initiative, the government also aims to recover between 500,000 ha and 1 million ha in certain regions, with the use of technology and expects increased production to generate additional revenues of up to $57 billion from exports within the next 5-10 years.

Argentina’s 2020/21 total grains production is expected to reach 120.8 million mt, down 6.1% compared with the previous cycle, according to a recent study by the Buenos Aires Grains Exchange (BAGE).

What to read next
Investors in the US corn and wheat markets amassed shorts in the week to Tuesday May 13, moving corn from a net long to a net short for the first time since October, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday May 16.
The UK’s domestic bioethanol industry could be at risk as a result of the recent trade deal announced between the UK and the US, industry members have warned.
Brazil could reach a share of as much as 7 million tonnes per year in China's distillers dried grains (DDG) and distillers dried grains with soluble (DDGS) markets following an agreement between the two countries that allows Brazilian exports, according to the National Union of Corn Ethanol (Unem).
Read Fastmarkets' wheat market update ahead of USDA report release
US futures moved into positive territory on Wednesday April 30, on bargain buying following double-digit declines observed on Tuesday April 29.
AG-WHE-0019 Wheat Feed wheat FOB Ukraine $/mt (M2) was incorrectly published as $233 per tonne. It has been corrected to $217 per tonne. Fastmarkets’ pricing database has been updated to reflect this change. These prices are part of the Fastmarkets Ags Grains package. For more information or to provide feedback on this correction notice or if you […]