The latest report from the Chamber of the Petroleum Industry of the Argentine Republic (CIARA) and the Cereal Exporters Center (CEC) confirmed the disaster caused by drought during 2023.
Both Houses announced today that in December companies in the sector liquidated 1,245 million dollars, which represents a decrease of 66% compared to the same month of December 2023 and a 24% improvement compared to November 2023.
“Foreign exchange earnings for the month of December are the result of the drought, which generated losses of available grain stocks, as well as a new export dollar established by decree 28/23,” the Chambers specified.
“Although foreign currency income in December was higher than in November, was negatively affected by the few remaining grains of the rough harvest, weather-affected grain production, and changes in the foreign trade regime established by the Central Bank and did not allow for the necessary fluidity, particularly in harvests of processed soy products containing soybeans imported under temporary admission, which has been severely affected by the new rules of the monetary authority,” he added.
According to Ciara-Cec, the industry continued high levels of idle capacity in port grain terminals and in the milling industry.
Similarly, they compared the 12 months of 2023 with the year 2022: the grains and oilseeds sector injected $19.7 billionwhich proves itlost foreign sales value of $20.7 billion (51%) compared to the 40,280 million dollars liquidated in 2022.
Private data shows that in the 2022/23 crop year, more than 50 million tons of wheat, corn and soybeans were lost due to the worst drought in history.
In any case, the outlook for 2024 is promising after the rains that have occurred since October.
According to a report from the Rosario Stock Exchange, ua harvest of 137 million tonsthe second largest harvest in history and foreign exchange for over 35,000 million dollars
Source: Clarin
