Argentina received permission to export wheat to China for the first time

Argentina's Ministry of Agriculture, Livestock and Fisheries on Friday announced the completion of the first phase of creating conditions for future wheat exports to China.

"The General Administration of Customs of the People's Republic of China (GACC) has included Argentine wheat exporting companies in the online system of quarantine registration of enterprises authorized to import plants, animals and products made from them to China," the ministry's press service reports.

Currently, the main suppliers of wheat to China are Australia and Canada, which export 5.7 and 1.8 million tons of grain, respectively.

It is expected that in 2023/24, Argentina will harvest 15.5 million tons of wheat, of which, despite the drought of the previous season, it will export about 3 million tons.

Experts of the Buenos Aires Grain Exchange BAGE predict that in 2023/24 the wheat harvest in Argentina will amount to 15.1 million tons.

In the January USDA report, wheat imports to China in FY 2023/24 were estimated at 12.5 million tons.

However, market participants Agricensus spoke to said that there have been no shipments from Argentina to China yet and that it will take some time to prepare them.