AsianFin -- Argentina's 2024-2025 wheat season officially began on November 27 with the first auction held at the Córdoba Grain Exchange. This event marks the start of the country's new crop trading season.

Estimates indicate that wheat production in the southern parts of Buenos Aires province and surrounding areas—key wheat-producing regions—will reach 3.9 million tons, an 18% increase compared to the previous year. Industry experts are optimistic about securing higher prices in both the domestic and international markets.

In a significant development, Argentina is also pursuing its first-ever wheat exports to China in decades. Earlier this year, Argentina's Ministry of Agriculture, Livestock, and Fisheries announced that, with authorization from the General Administration of Customs of China, the country is now able to export wheat to China. China, the world’s third-largest wheat importer, buys approximately 10 million tons annually, worth around $3.8 billion (as of 2022). Argentina, a major grain exporter, currently sees Brazil as its primary wheat export market.