Guillermo Moreno, the Secretary of Internal Trade, decided to cut the wheat exportable surplus by 25%. In this way, the initial quota that the Government had set at 6 million tons last June will be reduced by 1.5 million tons, staying as 4.5 million tons. For Argentina, this reduction in the exportable surplus will mean to lose export sales for a bit more than 500 million dollars.
Moreno decided to limit the exports because the harvest will be poorer than expected and there will not be enough cereal to reach the total amount of the quota for export sales. Strictly, a harvest of between 10 and 11 million tons is expected. From this volume, some 6 million tons have to remain in Argentina to supply the internal market.
Saturday December 8, 2012/ La Nación/ Argentina.