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Argentine grain vessels need to reduce cargo by 25% due to low river water levels

Buenos Aires, Argentina: The least water in 77 years is reducing the amount of grain shipped from Argentina’s most imported Parana River Rosary grain hub.

Authorities have reported that vessels must cut cargo by 25 percent due to low water levels, the head of the local port council said Friday.

Officials say there is no relief in visibility and the area is expected to remain dry for several months.

Parana is responsible for carrying about 80 percent of Argentina’s farm exports. Overly dry weather upstream of Brazil has reduced transport of soybeans, wheat and corn from Parana.

Argentine officials are currently uncertain how low rivers will affect wheat exports later this year.

“Today, ships are about 25% less loaded than when the river is at normal levels,” Guillermo Wade, manager of the Argentine Port and Maritime Activities Council, told Reuters.

“If the situation doesn’t reverse and there’s nothing to suggest that it does, you’ll lose 40% of what the ship normally carries when the water level is normal,” he added.

Argentina is a major exporter of corn and wheat. It is also the world’s top supplier of soybean meal livestock feed.

Grain exports remain Argentina’s main source of foreign currency.

Refinitiv weather analyst Isaac Hanks said, “We expect the entire southern part of Brazil to remain drier than normal for another three months, which means that river levels remain low or even more. Suggests that it will go down. ” Thomson Reuters business.

Argentine grain vessels need to reduce cargo by 25% due to low river water levels

Source link Argentine grain vessels need to reduce cargo by 25% due to low river water levels

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