According to the official statement, during 2023, 19,742 million were deposited in total.
The Chamber of the Oil Industry of the Argentine Republic (CIARA) and the Cereal Exporters Center (CEC), entities that represent 48% of the Argentine exports, announced today that during the month of December, companies in the sector settled the sum of US$1,245 million dollars; representing a decrease of 66% compared to the same month of December 2022 and an improvement of 24% compared to the month of November 2023.
Compared the 12 months of 2023 with the year 2022, the cereal-oilseed sector lost foreign sales valuesr $20.7 billion (51%).
He foreign exchange income for the month December is the result of the drought, which has generated losses in available grain stock, as well as a new export dollar established by Decree 28/23. Although the foreign exchange income in December was higher than November, it was negatively impacted by the low remaining grains from the coarse harvestwheat production affected by climate and changes in the foreign trade regime that established the BCRA and did not allow the necessary fluidity particularly in the collections of processed soy products that contain imported soybeans under the temporary admission regime, which was severely affected by the new authority rules monetary.
The industry continued with high levels of idle capacity in grain port terminals and in the milling industry.
For that reasonCIARA-CEC pointed out that the industry continued with high levels of idle capacity in grain port terminals and also in the milling industry.
Likewise, they recalled that the monthly foreign exchange income, transformed into pesos, it is the mechanism that allows us to continue buying grains from producers at the best possible price.
The currency settlement It 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.
Dollar: the balance of the oilseed-cereal complex
The oilseed-cereal complex, including biodiesel and its derivatives, contributed 48% of Argentina’s total exports in 2022, according to INDEC data. The country’s main export product is Soybean flour (14.2% of the total), which is an industrialized by-product generated by this agro-industrial complex, which currently has a high idle capacity 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
