Argentina’s total exports in January reached $4,498 million, an increase of 9.6% compared to the same month in 2023 (equivalent to $473 million), mainly due to the increase in quantities sold, grew by 211%. as there have been overall price declines of 9.4% this month.
The data comes from the latest report on foreign trade released by Indec.
One of the products that drove the increase was wheat. According to the agency’s data, sand sent overseas for $565 million278% more than the same month last year, hit by severe drought which reduced the harvest.
Grain shipments went to Indonesia, Brazil, Ecuador, Tanzania and Peru.
According to a report from the Buenos Aires Grain Exchange, grain exports would exceed 10 million tons and represent about $2.4 billion, $1.1 billion more than what was received last year.
The wheat harvest ended with 15.1 million tons. The national average yield is 2,840 kilos, 25% more than the previous campaign and 22% less than the average of the last five years.
The soy complex
According to the Indec report, in January net exports (exports minus imports) of the main products derived from the cultivation of soybeans and its derivatives reached a value of 926 million dollars, 7.2% less than those recorded in the same month of the previous year (71 million dollars).
Exports totaled $990 million and decreased 1.8% year-on-year ($18 million). This result is the result of a decrease in prices (18.6%) as quantities increased by 20.6%.
In relation to the quantities, the quantities of soybeans, including broken ones, excluded from sowing increased (3,263.2%); flour and pellets from soybean oil extraction (21.7%); and crude soybean oil, including degummed (4.9%); while the quantities of refined soybean oil decrease, in containers <= 5 l (36.4%).
As regards prices, those of crude soybean oil, including degummed, decreased (-28.3%); refined soybean oil, in containers <= 5 l (-22.7%); soybeans, even split, excluded for sowing (-13.2%); and flours and pellets deriving from the extraction of soybean oil (-7.6%).
Imports amounted to $64 million, $53 million more than those recorded in the same period the previous year. Soybean imports were mainly carried out under a temporary importation regime with the aim of industrialization and came from Paraguay (88.9%) and Brazil (11.1%).
Source: Clarin
