Drought has caused irrecoverable corn crop losses in some areas of Argentina despite the El Niño weather phenomenon which usually triggers heavy rains in South America, an analyst at the country’s main grains exchange said.
Argentina is the fourth largest exporter worldwide of the grain and farmers raced to plant more in recent weeks after the new, business-friendly government eliminated export taxes and quotas for corn.
However, a lack of rain and high temperatures in the north east of the province of Buenos Aires, the main agriculture district of the country, is threatening the corn harvest.
“This zone is burning up,” said Sofia Corina, an analyst at the Rosario exchange. “I’ve received reports of lost plots of corn and corn that has lost 50 percent of its yield.”
“This is completely unheard-of for a year of El Niño,” she added.
El Niño is a warming…
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