Argentina 2020/21 soybean sales reach 27.3 million tons

Farmers in Argentina have already sold 27.3 million tons of the recently harvested 2020/21 soy crop, said the country’s Ministry of Agriculture on August 16th, in a report updated on August 11th.

The pace of sales, however, is below that seen in the same period last year, when 29.4 million tons had been sold, according to the ministry.

Argentina’s 2020/21 soybean harvest ended in June with the production of 43.5 million tons, according to the Buenos Aires cereals exchange. The figure represents a drop in relation to the 49 million tons of the 2019/20 season.

Soybeans are an important source of dollars earned by Argentina from exports, in a move needed to renew the country’s central bank foreign currency reserves, affected by a three-year recession exacerbated by the Covid-19 pandemic in 2020.

Source: Money Times

To read the full original article, visit the link: https://www.moneytimes.com.br/vendas-de-soja-2020-21-da-argentina-atingem-273-mi-t-diz-governo/

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