Morocco will reduce its corn imports from Argentina

Published 2023년 3월 14일

Tridge summary

Argentina is projected to see a significant decrease in its corn production in 2023, estimated at 4 billion tonnes, due to a severe drought, as per the USDA. This could also result in a reduction in Morocco's maize imports from Argentina. The drought, coupled with inflation and debt issues, could lead to losses of $14 billion for farmers and a potential decrease in the production of soybeans, corn, and wheat. Morocco's cereal production also saw a decline in 2022, with a stock of 3.3 million tonnes, marking a decrease of 58% compared to the average production of the last five years.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Argentina is expected to record a drop of 4 billion tonnes in its corn production for the year 2023. According to the United States Department of Agriculture (USDA), Argentina, the world's third-largest corn producer, is expected to face a drop of 4 billion tons in annual production due to drought. This will result in a projected decrease in Morocco's maize imports from Argentina in 2023, from 2.5 million tonnes in 2021 to 2.3 million tonnes. The third largest maize exporter in the world, Argentina is expected to face a significant drop in its maize production, from 33 to 29 million tonnes this year, due to an unprecedented drought for 60 years. Farmers could suffer losses of $14 billion, with a possible decrease of 50 million tonnes of soybeans, corn and wheat. This predicament comes on top of 99% inflation and growing external debt, which is affecting the country's economy, Le360 reported. In its latest report "Grain: world markets and trade", the USDA indicates that 90% of ...

Source: Agrimaroc