Argentina suspends corn exports to ensure domestic food supplies

Argentina will suspend sales of corn for export until Feb. 28, the agriculture ministry said on Wednesday, announcing the surprise move as part of the government’s effort to ensure ample domestic food supplies.

The move by the world’s No. 3 corn supplier was a sign of tightening global food supplies during the COVID-19 pandemic.

“This decision is based on the need to ensure the supply of grain for the sectors that use it as a raw material for the production of animal protein such as pork, chicken, eggs, milk and cattle, where corn represents a significant component of production costs,” the statement said.

Argentina’s government is struggling to control food price inflation and help low-income families contending with an economy shrinking during the pandemic. Buyers can still book corn from Argentina, but only for a shipping date March 1 or later.

Reuters

Tags: Аргентина, corn