The foreign currency product clearance of grain and oilseed exports reached $928.37 million last January, which means a figure 61% less than in the same month of 2022 and 75% less than last December.
This was stated by the Chamber of the Petroleum Industry of the Argentine Republic (CIARA) and the Cereal Exporters Center (CEC), entities that represent 48% of Argentine exports.
“Foreign exchange income for January is a reflection of a grain market post implementation of decree 787/2022 (soybean dollar) as well as the severe drought which exacerbates export marketing,” Ciara and CEC indicated.
The second iteration of the export escalation program in December boosted nearly $3.4 billion in soybean sales.
In December, companies in the sector cleared $3,706.63 million, 34% more than in the same month in 2021 and 112% more than in November last year.
While the amount settled in all of 2022 was $40,438.17 million, being the best year since records were kept and representing 22% more than in 2021.
The oilseeds and cereals complex, including biodiesel and its derivatives, contributed 48 percent 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 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: Clarin
