Argentine sorghum's DJVE (Foreign Sales Declarations) increased times 40 y-o-y

According to the ministry of agriculture, the purchase declarations of the export sector showed a year-on-year growth 40 times higher than in the same period of the previous year. It can be estimated that almost all purchases are for export since the declarations of sales abroad are for 1.11M tons, and the actual purchases of the cereal reach 1.32M tons.

The main destination of Argentine Sorghum is China that uses the product for drinks. International prices of sorghum have been rising in recent months due to an acceleration in demand from China. The FOB reference value of NOLA sorghum (New Orleans, United States) reached USD 300/ton, while at the beginning of this year it was around USD 190/ton