AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

BUENOS AIRES: Argentina's soon-to-be planted 2020/21 corn crop should reach about 6.3 million hectares, similar to the area of the recently harvested crop, thanks to attractive prices, local growers and analysts said.

Argentina is the world's No. 3 corn exporter, with output of about 50 million tonnes in the 2019/20 crop year, just 600,000 tonnes off its all-time record high season, according to the Buenos Aires Grains Exchange.

"Corn futures prices are good and so are profit margins. The attraction continues. So we expect to repeat the same planting area that we had last year," Alberto Morelli, president of the MAIZAR corn industry group told Reuters. Planting of the 2020/21 corn crop is expected to start in earnest next month.

Ricardo Baccarin, vice president of the consulting firm Panagricola, also forecasts that the area sown with corn for the new season will be around 6.3 million hectares.

"Whoever can plant corn early in the season has a good reward ahead of him," he explained.

On the local MatbaRofex futures market, the April 2021 contract for corn - the benchmark for the new season - closed on Monday at $137.5 per tonne. Meanwhile, corn for immediate delivery closed at $130 per tonne on the Rosario grains exchange.-Reuters

Comments

Comments are closed.