Argentina has revised its grain export policies and it would encourage
farmers to grow more wheat and corn now.Export permit policy has been
cancelled.Export tax too has been removed on corn and wheat.Local
farmers had reduced their wheat and corn area under export permit system
and lower price.Now they will double their area under wheat and corn.
Argentina’s Agriculture Ministry is forecasting the current wheat crop
to be 10.9 million metric tons. That’s below the 2007-08 record crop of
16.4 million, before the export permit policy was initiated.The export
of grains has become more profitable for farmers after Argentina’s
government lifted four years of currency controls, leading to the the
biggest one-day peso devaluation in the last 14 years on Dec. 17.
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