Of this total, agro-industrial exports represent 47% of the total, whose amount would rise to US$41,055 million, US$3,006 million more than last year. As explained by the BCR, “the persistence of the Russian-Ukrainian conflict continues to support the level of international prices.”
In this sense, he explained that “the interruption in agro-industrial shipments from the Black Sea, the uncertainty surrounding the productive results of Ukraine in this cycle and the sanctions against Russia, keep the export prices of many agro-commodities exported by Argentina high. “.
For example, in February, the export prices of the soybean complex showed increases of 9% for beans and flour, while oil presented a rise of 4%. For its part, corn and wheat had rises of 2%, which strengthened export projections.
That is why, given the escalation in the price of wheat, for example, the national government decided to implement a trust to ensure the supply of flour in the domestic market at pre-war values, and programs such as Prices and Careful Cuts were relaunched, including in nearby shops.
At the same time, aware of the impact of this situation, the Minister of Economy, Martín Guzmán, announced a project to tax the “unexpected income” in Argentine companies that benefited from the rise in prices due to the war.
Along with the prices, “The amounts exported are expected to be underpinned compared to previous estimates, hand in hand with improvements in the production prospects for corn and an export volume higher than expected in the industrialization of soybeans”pointed out the Rosario Stock Exchange.
Of the US$41,000 million that agriculture would contribute in exports, more than half of the projected income would correspond to the soybean complex with US$23,745 millionUS$577 million more than what was calculated a month ago.
For its part, the corn complex would reach shipments for US$9.65 billion, almost US$1.0 billion more than what was expected a month ago and could exceed 2021 shipments by $600 million, reaching a new record.
Projections for the wheat complex reach an increase of US$328 million to US$4,741 million for the current year. Meanwhile, the sunflower complex would reach exports of US$1.84 billion, US$512 million more than expected a month ago and US$538 million above the 2021 mark.
“Hand in hand with Vaca Muerta, the export of the various products that make up the complex reached maximum levels not seen since 2009“, remarked the work.
With almost 1.7 million tons exported between January and February of this year, the export of oil was the great driver of the complex’s foreign trade in the first two months of the year.
Source: Ambito
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