The agro-export sector earned almost US$ 1.5 billion in February and in the first two months it added a figure that exceeds US$ 3.0 billion.
According to data from the Chamber of the Oil Industry of the Argentine Republic (CIARA) and the Cereal Exporters Center (CEC), entities that represent 48% of Argentine exports, companies in the sector settled the sum of U$S 1,499 million in February, representing an increase of 133% compared to the same month of February 2023, which was affected by the drought.
But it is still far from the liquidation rate that occurred in February 2022 and 2021.
Taking into account January and February 2024,
the settlement amounted to US$3,021 million
, 93% more compared to the same period of the previous cycle.
According to Ciara-Cec, the inflow of foreign currency is the "result of the new export dollar regime and the macroeconomic movements of the new government" that impacted the decisions to sell the grain supply.
"Grain exports continue to work with high levels of idle capacity, as well as the oil industry, suffering permanent negative margins," they insisted from the chamber that brings together grain exporters.
To all this,
the fall in international prices and the fall in production
due to the heat wave will make the inflow of dollars suffer during the year.
According to a report from the Rosario Stock Exchange, at current prices, the value of exports of grains, oils, flour and other derived products
is projected today at US$31,300,
US$4.5 billion behind what was projected in the month of December.
"Again, this dollar income will exceed that of the previous year since the fierce drought leaves the bar low, but we soften the result by taking the average of the last three years, the value of exports expected for the new cycle is 18% below", highlighted the work.