Argentina Grain Hit By 66% Revenue Drop From Exports

In December 2023, Argentine grain and derivative exports yielded a revenue of $1.246 billion. While this amount reflects a 66% decrease compared to December 2022, it marks a 24% increase from November 2023.

The data disclosed by the Chamber of the Oilseed Industry of the Argentine Republic (Ciara) and the Center of Grain Exporters (CEC), entities representing 48% of Argentina‘s total exports, sheds light on the challenges and dynamics of the industry. Over 2023, the accumulated revenue reached $19.742 billion, indicating a 51% decline compared to 2022.

According to both organizations, the influx of currency in December was partly influenced by the country’s drought in the 2022/23 season, leading to the sale of available grain stocks.

The primary product exported by the sector is soybean meal, accounting for 14.2% of the total traded abroad by the country. Corn (11% of the total) and soybean oil (6.9%) are closely followed closely.

Source: Broadcast Agro

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