Argentina Corn Market Report and Forecast 2024-2032

Argentina Corn Market Size

The corn market in Argentina is projected to expand at a CAGR of 1.2% between 2024 and 2032.

Argentina Corn Market Outlook

• Farmers in Argentina are adopting modern methods and sophisticated cultivation techniques, including precision farming, to enhance agricultural production.

• In the year 2022, Argentina emerged as the third-largest global exporter of corn, with a remarkable export value of $9.79B.

• Argentina’s planned corn shipments reached their peak in the first months of 2024, totalling 1.9 million metric tons, the highest in at least five years.

Argentina Corn Market Trends

Furthermore, Argentina uses corn for various culinary purposes. For example, a traditional non-alcoholic beverage that is highly favoured by most Argentinians is prepared using corn flour and sugar. Another well-known corn-based dish is Humita, which is made from summer corn. This local dish is extremely popular in national festivities and throughout the winter season, further driving up the Argentina corn demand.

The market in Argentina also benefits from the increasing demand from the animal feed sector, which is growing as a result of the rising awareness of animal health. Among various cereals/ingredients used in animal feed, yellow corn stands out as one of the most popular choices. This is mainly due to its high nutritional value, which greatly benefits animal health. Additionally, yellow corn is both affordable and easily accessible, making it a convenient option for farmers which further boosts the growth of the Argentina corn market. Furthermore, its longer shelf life compared to other cereals makes it an ideal choice for farmers who need to store and preserve feed for extended periods.

Argentina Corn Market Growth

As per the Argentina corn market analysis, the growing demand for nutritious and convenient food and shifts in eating patterns has significantly influenced corn production. Corn is commonly known as a wholesome grain that offers protein, fibre, and essential vitamins, among others. Popular corn-based snacks such as sweet corn and popcorn are rich in vitamins and minerals and can be consumed on-the-go.

Recent Developments

As per the Argentina corn market dynamics and trends, China announced on May 2024 that it has granted Argentina authorisation for the import of two varieties of genetically modified (GMO) corn, MON-87411 and DAS-59122-7.

Industry Outlook

According to the Argentina corn industry analysis, USDA attaché in Argentina has projected that the total corn output in the fiscal year 2024-25 is expected to be around 49 million tonnes. This projection is 2 million tonnes lower than the estimate by the USDA. On the other hand, The Rosario Board of Trade in Argentina announced that the projected corn production is expected to be down by 30% due to spiroplasma disease spreading in the area. In the first two weeks of April in the country, the major corn-producing regions in the country witnessed 50% higher rainfall than the average rainfall of the country.

According to industry reports, corn exports from Argentina are expected to witness a surge of 53% in 2024 compared to last season owing to high rainfall, which can also contribute to the Argentina corn industry revenue. Most South American countries export their crops to countries such as Vietnam, Algeria and South Korea.

Rosario Grains Exchange (BCR) reported in November 2023 that major agricultural regions in Argentina witnessed a rainfall of 50-60 millimetres which served as a boon for the corn planted between September and October. The Buenos Aires Grains Exchange (BdeC) stated in their report that due to this rainfall, around 86.7% area planted with corn was in good or average conditions, compared to the previous month. Argentine farmers planted a quarter of the 8.5 million hectares of area with corn in 2023-2024.

As per the market reports, the corn production in the country was 32,500 thousand tons in 2014-15 and 34,500 thousand tons in 2015-16. The production in 2016-17 was 42,000 thousand tons, 37,300 thousand tons in 2017-18, and 55,500 thousand tons in 2018-19. The production volume for 2019-20 was 54,500 thousand tons, 55,000 thousand tons for 20-21, and 52,000 thousand tons for 2021-22 which contributed significantly to the growth of the Argentina corn industry.

Increasing Demand and Technological Advancements Strengthening the Argentina Corn Market Share

• Growing demand for corn driven by its use as a staple food, animal feed, and biofuel source.

• Technological advancements in agricultural practices and seed technology for higher crop yields and disease resistance can aid Argentina corn demand growth. 

• Expansion of export markets for Argentine corn, particularly in Asia and Europe, boosting production and revenue.

• Established market presence of key players with robust capabilities in corn production and distribution.

• Increasing investments in agricultural research and development promoting sustainable farming practices.

High Costs and Infrastructure Limitations Weakening the Corn Market in Argentina

• High operational costs associated with modern farming equipment, fertilizers, and pesticides can negatively impact Argentina corn demand forecast.

• Limited infrastructure in rural areas, affecting efficient transportation and storage of corn.

• Dependence on stable weather conditions and climate variability for consistent crop production.

• Challenges in maintaining product quality and meeting international standards.

• Customer expectations for affordable and high-quality corn products.

• Economic factors influencing pricing strategies and profitability amidst market volatility can reduce Argentina corn market opportunities.

Development of Genetically Modified (GM) Corn Varieties for Enhanced Yield and Pest Resistance

• Integration of precision agriculture technologies for optimized resource use and crop management.

• Deployment of blockchain technology for traceability and transparency in the corn supply chain can increase Argentina corn market value.

• Innovation in sustainable farming practices and organic corn production to cater to diverse consumer preferences.

• Investment in irrigation systems and soil health management for improved crop resilience.

• Growth of agribusiness partnerships and cooperatives for better market access and resource sharing.

• Partnerships with biotechnology and agricultural firms to develop next-generation corn varieties can increase Argentina corn market revenue.

Key Indicators of Prices

• Fluctuations in global corn prices due to changes in supply and demand dynamics.

• Impact of agricultural input costs, such as seeds, fertilizers, and pesticides, on corn production expenses.

• Variability in transportation and logistics costs affecting product pricing.

• Influence of trade policies, tariffs, and export quotas on international corn trade can increase demand of Argentina corn market.

Key Indicators of Demand

• Growth of the biofuel industry boosting demand for corn as a renewable energy source.

• Health and wellness trends promoting the use of non-GMO and organic corn products.

• Expansion of the livestock sector and demand for high-quality animal feed leading to higher corn intake.

• Seasonal variations and regional dietary preferences influencing corn consumption patterns is a crucial trend in Argentina corn market.

Argentina Corn Industry Segmentations

“Argentina Corn Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Organic

• Conventional

Market Breakup by Application

• Food and Beverages

• Animal Feed

• Ethanol Production

• Others

Competitive Landscape

The market players in the Argentina corn industry are focusing on increasing their output by adopting modern production methods, further meeting the rising demand for corn from key application sectors.

Key Highlights of the Report

Argentina Corn Market Report Snapshots

Argentina Corn Market Size

Argentina Corn Market Growth

Argentina Corn Market Trends