Sharp drop in foreign exchange earnings from October field without the soybean dollar: $ 1,217 million, 85% less than the previous month

Share This Post

- Advertisement -

As expected, agricultural export companies liquidated $ 1,217,329,690 in October, 85% less than in September when the $ 200 soybean dollar (Decree 576/22) was in effect for the marketing of oilseeds and 49% less than in the same month of 2021.

- Advertisement -

In September, soybean operations it had exceeded 13 million tons while in the tenth month of the year, according to the Borsa del Rosario, they barely reached 2,300,000 tons, including contracts for 2,162,000 and fixings for 144,000.

According to what was reported by the Chamber of the Petroleum Industry of the Argentine Republic (CIARA) and the Cereal Exporters Center (CEC), entities that represent 48% of Argentine sales abroad, the total amount of dollars received since January 2 reaches 35,034 .553.066 USD, thus being 2022 the best year since records were kept.

- Advertisement -

The liquidation of foreign currencies is fundamentally related to the purchase of cereals which will then be exported, in their own state or transformed into by-products. Most foreign exchange earnings in this sector occur before export, 30 days in the case of grain sales abroad and up to 90 days in the case of protein oils and flours.

According to CIARA-CEC and the National Institute of Statistics and Census (INDEC), the oilseed-cereal complex, including biodiesel and its derivatives, contributed 48% of Argentina’s total exports last year, being the main export product of soybean meal with 14.2% of the total, followed by corn with 11%) and in third place by soybean oil with 6.9%.

Source: Clarin

- Advertisement -

Related Posts