Argentina wheat farmers plan to expand their 2013-2014 crop by 40 percent compared to the 2012-2013 crop year, to nearly 4.5 million hectares, according to Agriculture Secretary Lorenzo Basso. The 2012 season brought in 3.16 million hectares, the smallest area on record, according to the country's government.
Argentina is giving tax rebates to farmers to compensate for a 23 percent levy on wheat exports and help reverse a trend on growing other crops. "Wheat planting area will increase for several reasons: The rebates, good soil moisture and better market conditions," said Basso.
Argentina officials have authorized the export of 5 million metric tons of wheat for the 2013-2014 season as part of the drive to increase production.