Revenue from grain exports in Argentina increases 35.8% in July

Argentine exports of grains and derivatives generated revenue of US$2.616 billion in July 2024, marking a 32.3% increase compared to June and a 35.8% rise from July 2023. This data was released by the Chamber of the Oilseed Industry of the Argentine Republic (Ciara) and the Center of Cereal Exporters (CEC), which together represent 50.1% of total Argentine exports. In the first seven months of the year, revenue reached US$13.640 billion, reflecting a year-on-year increase of 5.2%.

The entities attribute this performance partly to the adoption of the “exporter dollar” reference value, implemented in December 2023. Additionally, international prices and weather impacts on the pace of soybean and corn harvests played a significant role.

“Grain exports continue to operate with high levels of idle capacity, as does the soybean oil industry, which is facing permanent negative margins,” the report stated. The primary export product from this sector is soybean meal, accounting for 12% of Argentina’s total exports. This is followed by corn at 11% and soybean oil at 6.9%.

Source: BOL

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