Argentina’s grain exports set a new record in May with US$ 4.2 billion

Argentina’s grain industry sold US$4.2 billion in May, the best monthly result ever recorded by the country, said the Argentine Edible Oil Association (CIARA) and the Grain Exporters Association of Argentina (CEC) on June 1st.

The exports of Argentina’s grain sector increased by 33% on a month-by-month basis, while the country’s foreign exchange revenue totaled US$15.3 billion with shipments in the first five months of the year, according to the report.

In a joint statement, the institutions claimed that grain exports were impacted by international market tendencies, as well as government-imposed limits and an “enormous idle capacity” in the soy processing industry.

Soybean bran is the main product shipped by the country, representing 14.2% of the shipments. It is a by-product generated by this agro-industrial complex, which currently has a high idle capacity of close to 50%.

The oilseed complex, including biodiesel and its derivatives, accounted for 48% of Argentina’s total exports last year.

Source: Money Times

To read the full original article, please go to: https://www.moneytimes.com.br/exportacoes-de-graos-da-argentina-chegam-a-us-42-bi-em-maio-e-marcam-recorde/

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