Grains: Argentina’s exports generate USD 3.4bn in August

Argentina’s grain exports generated about US$3.4 billion in August, up 5% from July. Meanwhile, the South American country is trying to increase the flow of foreign currency to rebuild the central bank’s depleted reserves.

Chambers of grain and oilseed exporters CIARA-CED said the dollar value of exports grew 11% year-on-year, which they considered a record, reaching $25.7 billion. Argentina’s central bank requires grain exporters to convert dollar earnings into local pesos.

The country has strict exchange controls to preserve scarce reserves, although analysts say the economy ministry is considering a specific exchange mechanism for the agricultural sector to encourage the liquidation of dollars.

Source: Canal Rural

To read the full original article, please go to: https://www.canalrural.com.br/radar/graos-exportacao-da-argentina-rendem-us-34-bilhoes-em-agosto/

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