Argentina corn exports to drive growth of agri-freight demand in 2024

With corn harvest in Argentina underway and nearly 6% complete (+2% WoW), the full crop in 2024 is…

Argentina Corn Seaborne Exports 2024

… expected to recover +68% YoY to 42Mt following a disastrous 2023 year, when consecutive droughts had capped the harvest at a 5-year low of 25Mt only.

Seaborne exports have already started on a strong note with Mar’24 exports set to reach up to 4.2Mt (as of 26-Mar). If confirmed, it would be a new seasonal record for the March month! Looking forward to the whole 2024 year, exports from Argentina are expected to increase by +18Mt corn YoY and to seasonally climax in Q3, which will support both the Panamax & Supramax segments of the bulk carrier fleet.

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