World Grain - December 2022 - 16

COUNTRY FOCUS
KEY FACTS
FOCUS ON
ARGENTINA
Country is a major grains and oilseeds
producer and exporter of wheat flour
by Chris Lyddon
Argentina is one of the world's most important exporters of grains
and oilseeds, playing an important role in feeding populations
around the world. The South American country, which has a milling
sector that includes some major processors, is also a big player on
the global biofuels market.
In its Grain Market Report of Oct. 20, the International Grains
Council (IGC) put Argentina's total grains production in 2022-23 at
87.1 million tonnes, revised down from its forecast a month earlier
of 88.1 million. The total compares with production of 88 million
tonnes in 2021-22.
The country's total wheat output is forecast at 17.5 million tonnes,
revised down from 18 million, compared with 22.1 million in 2021-22.
" Drought concerns have intensified in Argentina, where crop vegetation
densities are below normal, " the IGC said.
The durum wheat crop is put at 300,000 tonnes, unchanged from
the previous month's forecast and the previous year's crop.
The forecast for Argentina's maize production in the current marketing
year is 60.6 million tonnes, an unrevised figure, which is up
from the 57 million tonnes produced the previous year.
Barley output is forecast at 5 million tonnes, revised down from
5.5 million and just below the previous year's crop of 5.2
million tonnes.
" Amid lingering moisture deficits, winter
cropping conditions in Argentina have
worsened in recent weeks, with unusually
poor vegetation density noted in
some areas, " the IGC said.
In addition to a deteriorating
yield outlook, there also are risks
of increased abandonment.
The sorghum crop is put at 3.1
million tonnes, unchanged from
the forecast a month earlier and
up on 2.8 million the previous
year.
Argentina also is slated to produce
700,000 tonnes of oats, an unrevised
figure that is unchanged from
the previous season. Its rice crop is put
at 800,000 tonnes, also unrevised from the
16
Capital: Buenos Aires
Population: 45,864,941 (July 2021 est.)
Religions: Roman Catholic 62.9%, Evangelical
15.3% (Pentecostal 13%, other Evangelical 2.3%),
Jehovah's Witness and Church of Jesus Christ
1.4%, other 1.2%, agnostic 3.2%, atheist 6%,
none 9.7%, unspecified 0.3% (2019 est.).
Location: Southern South America, bordering
the South Atlantic Ocean, between Chile and
Uruguay.
Government: Presidential republic. Chief of
state and head of government: President Alberto
Fernandez (since Dec. 10, 2019).
Economy: Argentina benefits from rich natural
resources, a highly literate population, an export-oriented
agricultural sector, and a diversified
industrial base. Although one of the world's
wealthiest countries 100 years ago, Argentina
suffered during most of the 20th century from
recurring economic crises, persistent fiscal and
current account deficits, high inflation, mounting
external debt, and capital flight. Cristina Fernandez
De Kirchner succeeded her husband as
president in late 2007, and in 2008 the rapid economic
growth of previous years slowed sharply
as government policies held back exports and
the world economy fell into recession. In 2010
the economy rebounded strongly, but slowed in
late 2011. Between 2011 and 2013, Central Bank
foreign reserves dropped $21.3 billion from a
high of $52.7 billion. In July 2014, Argentina and
China agreed on an $11 billion currency swap;
the Argentine Central Bank has received the
equivalent of $3.2 billion in Chinese yuan, which
it counts as international reserves. With the election
of President Mauricio Macri in November
2015, Argentina began a historic political and
economic transformation, as his administration
took steps to liberalize the Argentine economy,
lifting capital controls, floating the peso, removing
export controls on some commodities, cutting
some energy subsidies, and reforming the
country's official statistics. Argentina negotiated
debt payments with holdout bond creditors,
continued working with the IMF to shore up its
finances, and returned to international capital
markets in April 2016. In 2017, Argentina's economy
emerged from recession with GDP growth
of nearly 3%.
GDP per capita: $19,700 note: data are in 2017
dollars (2020 est.); Inflation: 25.7% (2017 est.); Unemployment:
9.84% (2019 est.).
Currency: Argentine pesos (ARS): 160.4 pesos
equal 1 US dollar (Nov. 10, 2022).
Exports: $64.18 billion note: data are in current
year dollars (2020 est.): soybean products, corn,
delivery trucks, wheat, frozen meat, gold (2019).
Imports: $52.14 billion note: data are in current
year dollars (2020 est.): cars, refined petroleum,
vehicle parts, natural gas, soybeans (2019).
Agriculture: 10.8% (2017 est.) of GDP and 5.3%
of the labor force.
Internet: Code: .ar; 36.32 million (2021 est.)
users.
Source : CIA World Factbook
December 2022 / World Grain / World-Grain.com
http://www.World-Grain.com
World Grain - December 2022

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