LatinNews Daily - 17 May 2023

In brief: Argentina forecasts increase in wheat and barley production

* The Buenos Aires grain exchange has reported that Argentina is expected to produce 23m tonnes (t) of wheat and barley in the 2023/24 season. Wheat production is forecast to rise by 45% year-on-year to 18m t, while barley production is expected to rise by 32% to 5m t, as a result of larger areas being devoted to the crops in regions with high production potential. According to the grain exchange, 7.6m hectares (ha) are projected to be sown for the 2023/24 season, 6.3m ha for wheat (+3.3 % year-on-year) and 1.3m ha for barley. Despite the strong growth, the president of the grain exchange, José Martins, expressed his concerns stating that the season will face “many more uncertainties than certainties” in the current “national political-economic context.”

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