Argentina is poised to commence long-anticipated corn exports to China in July, as confirmed by the nation's grain export chamber on Tuesday. This development represents a significant opportunity for Argentina, the world’s third-largest corn supplier.
Gustavo Idigoras, head of the CIARA-CEC chamber, revealed that all necessary conditions are now met to begin these shipments. "Yesterday they confirmed to us that all the conditions are in place to move forward with shipments to China starting in July," Idigoras stated, marking the first official confirmation of the timeline.
Previously, Argentina's government had indicated plans to initiate corn exports to China by July, pending the completion of certain administrative procedures to secure import licenses.
Idigoras highlighted the potential growth in the Chinese market, which imports approximately 20 million tons of corn annually, with Brazil currently being the primary supplier. "Argentina has all the conditions to be a strong and reliable supplier of corn for animal feed," he added.
The foundation for this trade was laid last year when Argentina and China reached an initial agreement to facilitate Argentine corn exports. However, no shipments had been made since the agreement due to unresolved issues. A decade-long effort to open the Chinese market to Argentine corn, most of which is genetically modified, had seen limited success until now, with only a small test shipment allowed in 2012.
This recent progress follows China’s approval of two varieties of herbicide-tolerant GMO corn grown in Argentina, which will streamline the export process and assist Chinese importers in obtaining necessary permits.
Currently, Argentine farmers are in the early stages of harvesting corn for the 2023/24 season, with production estimated at 47.5 million tons by the Rosario grains exchange.
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