Grains and cereals market in Argentina - Statistics & Facts
Argentina produces and exports so many grains and cereals that it has been called “the world’s silo”. The grains and cereals industry is one of the most important ones for the country’s economy, the production volume of cereals has grown consistently since 2010. Grain cultivation, like with other agricultural goods, depends on a healthy growing environment. In recent years, new crop diseases, as well as the dire economic situation that the country is going through have impacted both production and exports. However, Argentina is still among the top producers and exporters of some of the most important grains, including corn, wheat, and soybeans.
Despite these challenges to the industry, global demand for grains from South America are still increasing, as geopolitical conflicts have affected supply from other traditionally large exporters such as Russia and Ukraine. In 2024, the European Union (EU) and Mercosur signed a free trade agreement that could represent a boost for exports from Argentina. However, this agreement is yet to be ratified.
Corn
Corn is the main produced cereal, with more than 59 million metric tons produced in 2023. Production of this crop has increased in part due to an increase in international demand. In fact, between 2013 and 2023, corn production grew by over 80 percent. However, a new bacterial disease in the region, called corn stunt, had an impact on production, causing a drop in 2022 and is expected to curb growth over the next decade. This, in turn, affected corn exports, where there had also been growth since 2015.Soybean
Argentina is also an important soybean producer and exporter. Despite it being the fourth largest exporter of soybean in the world, production of this crop decreased by around 15 percent between 2013 and 2023, with a stark drop in 2022. However, it is likely to increase again over the next decade, especially since some farmers are likely to switch to cultivating soybeans due to corn stunt. Soybean is needed to produce soybean meal, and Argentina is also one of the largest producers globally.Wheat
Wheat is also one of the main cereals exported by Argentina. In 2023, the South American country exported over two million metric tons of wheat and meslin, a stark drop compared to the previous year. Nevertheless, it is still among the leading exporters of wheat, flour, and other wheat products worldwide. The increase in global demand has led to an increase in wheat production in the country. Wheat, however, is considered a high-cost crop, and requires a humid environment that is not present all over the country, but with good conditions and new cultivation strategies—such as alternating with soybean—production is expected to continue growing until 2033.Despite these challenges to the industry, global demand for grains from South America are still increasing, as geopolitical conflicts have affected supply from other traditionally large exporters such as Russia and Ukraine. In 2024, the European Union (EU) and Mercosur signed a free trade agreement that could represent a boost for exports from Argentina. However, this agreement is yet to be ratified.
