In this context, the idle capacity of the milling industry stood at 30% last June and could worsen in the coming weeks, in a context in which producers are selling less soybeans in the face of economic uncertainty and the increase in the gap between the official dollar and the parallel exchange rates.
international prices
The truth is Not only does the primarization of shipments complicate the economy, but also if the decline in international prices of agricultural commodities, which was evident in recent weeks, consolidates, a sharp cut in dollar income can be expected in the coming months.
According to a report by AZ Group, With the current international prices, Argentina would stop receiving at least some US$3,000 million in foreign currency and some US$1,000 million in withholdings. Soybean closed this Wednesday at US$580.6, which represents a 10% drop compared to last June 9, when it reached a peak of US$650 per ton.
Much more encouraging are the projections of the Rosario Stock Exchange, which in its July estimate stated that this year the main agro-industrial complexes would generate revenues of US$41,281 million, US$161 million less than in the June estimate and US$3 .231 million above what was exported in the year that ended.
Although there is still a long way to go, the first projections in the sector anticipate that during July the liquidation of foreign currency would be below US$3.5 billion, fundamentally due to the fall in international prices, together with lower sales of soy by the producers and the agricultural strike with the cessation of commercialization that will take place next week.
This is a fact that the Government follows closely because, precisely, it continues to face payments for energy imports amid strong pressure in the parallel dollar market.
Source: Ambito
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