2/8/2004 (Business Latin America) - A record 2004-05 harvest is forecast.The season's yield of corn, soybeans, sunflowers and wheat should total75.5m tonnes, a 15% increase over the previous season, according to theInter-American Institute of Agricultural Co-operation (IICA). Thegovernment's decision to allow the planting of genetically modified cornseed (see next item) will help the country regain its place as the world'ssecond leading corn exporter after the US. Agricultural goods accountedfor 57% of Argentina's exports in the January-May period, says the IICA.

The government has approved the planting of genetically modified (GM) cornin a move to reverse a production decline. Farmers have switched en masseto growing GM soybeans over the past four years, leaving corn productionto fall by 20%. With the approval of RR (Roundup Ready) corn, a Monsanto(US)-patented, herbicide-resistant seed, farmers will have an incentive torotate soya and corn crops as well. Unlike GM soybean seeds, which can besaved by farmers and replanted, genetically modified corn requires farmersto buy fresh seed for each planning.