The agro-export companies announced that during September they settled US$2,045 million. Compared to the first 9 months with last year, the cereal-oilseed sector lost foreign sales values of US$17,065 million.
The agro-export companies announced that during September they settled US$2,045 million.
The Chamber of the Oil Industry of the Argentine Republic (CIARA) and the Cereal Exporters Center (CEC), entities that represent 48% of Argentine exports, announced that during the month of September companies in the sector settled US$2 .045 million. This implies a decrease of 75% year-on-year.
It should be noted that in September 2022 the first soybean dollar was validated. The US$2,045 million also represents 15% higher than the month of August 2023. Compared to the first 9 months compared to last year, the cereal-oleaginous sector lost sales values abroad by US$17,065 million (50%).
The foreign exchange income for the month of September is the result of the operations carried out under Decree 443/2023 and the strong growth in sales of soybean producers, which amounted to more than 4 million tons.
“The monthly income of foreign currency, transformed into pesos, is the mechanism that allows us to continue buying grains from producers at the best possible price. The liquidation of foreign currency is fundamentally related to the purchase of grains that will later be exported, either in their same state or as processed products, after industrial transformation,” the entities explained.
And they added: “Most of the foreign exchange income in this sector occurs well in advance of the export, an anticipation that is around 30 days in the case of grain exports and reaches up to 90 days in the case of grain exports. oils and protein flours. This anticipation also depends on the time of the campaign and the grain in question, so there are no delays in the settlement of foreign currency.”
Oilseed and cereal complex
The oilseed-cereal complex, including biodiesel and its derivatives, contributed 48% of Argentina’s total exports last year, according to INDEC data.
The country’s main export product is soybean meal (14.2% of the total), which is an industrialized by-product generated by this agro-industrial complex, which currently has a high idle capacity of close to 50%. The second most exported product last year, according to INDEC, was corn (11%) and the third was soybean oil (6.9%).
Source: Ambito
