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Argentina to lose over $2 billion in wheat export revenue due to droughts

Posted On: Nov. 14, 2022 9:47 AM CST


Argentina’s Rosario Grains Exchange estimates over $2 billion in wheat export revenue losses this season, as prolonged drought in the crucial farming regions cuts total cultivation by 50%, Nasdaq reported citing Reuters. Reduced wheat exports from Argentina will increase pressure on global wheat supplies, as the supply chain is already reeling from impacts of Ukraine war and poor weather conditions in the U.S. – two major wheat exporters.