Argentina: Diego Cifarelli acknowledged that the millers are working on a plan for added value to wheat

Published 2024년 5월 15일

Tridge summary

Argentina is set to begin a wheat campaign, marking the first under purely libertarian rules, though withholdings will still be in place, posing a challenge for international competitiveness. Diego Cifarelli, president of the Argentine Federation of the Milling Industry, emphasizes the need for maintaining high prices and improving export competitiveness, particularly for wheat products. Currently, the milling industry operates within a tax environment that limits export growth, with Brazil serving as a example of successful wheat exportation. Despite challenges such as mill idle capacity and low consumption due to economic recession, efforts are being made to increase flour or farinaceous product exports. Reductions in fertilizer export taxes indicate a potential shift towards more value-added activities in the agricultural sector.

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Original content

The wheat campaign that will begin in the coming weeks will be the first purely libertarian one. However, the rules of the game will remain practically the same because the withholdings for this grain remain in force, and that is where one of the main challenges of the sector lies: maintaining international competitiveness. “Things didn't change at all. Regarding withholdings, we come from a campaign where the milling industry sustained prices almost only because exports did not push as they did not have markets. Far from what is sometimes said, the milling industry maintained really important prices that made it possible to pay almost the full price without retention,” Diego Cifarelli, president of the Argentine Federation of the Milling Industry (FAIM), told Bichos de Campo. See the full note here: And although the drought that the previous campaign went through is behind us, with estimates that show that there will be enough wheat, for Cifarell the challenge now will be to see ...

Source: Bichos de campo