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Mexico buys Argentine corn in wake of US drought

Wednesday, October 10, 2012

Continuing to move away from its near-total reliance on corn imports from the United States, Mexico expects to approve shipments from Argentina by mid-2013, an official at the country's food safety agency said on Tuesday.

Severe drought in the United States, the world's No. 1 corn exporter, has decimated crops, tightened global supplies and pushed corn prices to record levels.

Mexico's food safety agency gave the green light to corn imports from Brazil, the world's fourth biggest exporter, a month ago.

Source: Reuters