Argentina: grain export revenue drops 10% month-on-month

The revenue derived from grain exports and derivate products generated USD 3.815 billion in June 2022.

The amount represents a drop of almost 10% compared to May, even though it remained the highest level ever recorded in the month of June.

The data was released by the Argentine Edible Oil Association (Ciara) and the Grain Exporters Association of Argentina (CEC), entities that represent 48% of total Argentine exports.

In the first six months of the year, the total revenue wasUS$ 19.145 billion.

According to the companies, grain shipments were hampered by bad meteorological conditions, as well as roadblocks and protests led by transportation workers that prevented thousands of trucks from entering the ports.

“This has deepened the idle capacity of the soy crushing industry, which continues to work with negative margins.”

The main product exported by the sector last year was soybean meal, corresponding to 14.2% of the total sold abroad by the country.

The second most exported product was corn (11% of the total) and soybean oil (6.9%).

Source: Money Times

To read the full original article, please go to: https://www.moneytimes.com.br/argentina-receita-com-exportacao-de-graos-diminui-quase-10-em-junho-ante-maio/

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