Argentina liberated 450.000 tons of wheat for export, a decision which is believed to be closely linked to Sunday’s election in the farming province of Santa Fe where the government of President Cristina Fernandez de Kirchner suffered a major defeat.
The best way to cool soaring food prices is to boost output, the Argentine government said, following talks on a French proposal for increased regulation of commodity markets in the framework of a G20 meeting in Buenos Aires.
Argentina plans to extend the equivalent of 750 million US dollars in subsidized loans to meat producers to spur increased production of beef, chicken and pork.
Paraguay overtook Argentina as beef exporter in 2010 confirming the country’s loss of leadership in the world’s meat markets, according to reports in the Argentine and Paraguayan media.
The farmers’ strike which has been taking in place in Argentina for the past week ended on midnight Sunday but the leaders have warned that members of the relevant rural entities will meet in two weeks, to discuss further measures and that they do not rule out another strike. The current measures had put a halt to the sale of grains.
China and Argentina have signed agreements to allow the import to China of de-boned beef, dairy products, apples, bamboo and barley, China's quarantine administration said on Wednesday. However no mention was made of an expected deal on corn.
Argentina’s Agriculture and Livestock minister Julian Domínguez and representatives from the cereals and oilseed markets coincided that Argentina will have a record crop this 2010/11 season and considerable export surplus of wheat and corn: 5.5 million and 18.5 million tons respectively.