Morocco’s corn imports drop as drought grips Argentina
Maize (Corn)
Argentina
Morocco
Published Mar 13, 2023
Tridge summary
Morocco’s annual corn imports from Argentina are set to drop in 2023 as yield reaches a three-year low.
Original content
Argentina is facing the worst drought in over 60 years. Rabat - According to data from the United States Department of Agriculture (USDA), Morocco’s corn imports from Argentina are set to reach 2.3 billion tonnes in 2023, down from 2.5 billion tonnes a year earlier. Argentina’s overall corn exports are set to drop by 4 billion tonnes, going from 33 billion tonnes in 2022 to 29 billion tonnes in 2023. This year, the country is facing the worst drought in over 60 years. The South American country is the world's top exporter of processed soy and ranked third for corn. However, this year, the country continued to cut soybean and corn harvest forecasts. “We are facing an unprecedented climatic event,” head of economic research at the Argentina Rosario exchange, Julio Calzada, told Reuters. Calzada added that farmers could be facing a cumulative loss of $14 billion and a reduced production that could reach 50 million tonnes worth of soy, corn, and wheat. “It's unprecedented that the ...
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