Argentina’s grains export revenue jumps more than 200% in October

Argentina’s farm sector brought in a total of$2.55 billion through exports in October, a 243% increase compared to the some month a year earlier, the CIARA-CEC oilseed and grains crusher chamber and exporters said on Friday.

CIARA-CEC noted in a report that revenues from the sector’s companies rose nearly 3% compared to September. In the January-October period there was an 21% increase.

October’s foreign exchange inflows “are the result of an improved pace of producer grain sales, as well as higher soybean crushing at one-month highs… and finally, an aggressive soymeal and soyoil shipment program,” according to the report.

Argentina is one of the world’s largest suppliers of processed soybeans, the as well as a top corn and wheat producer.

Reporting by Jorge Otaola, Writing by Natalia Siniawski; Editing by David Alire Garcia

Source: XM.com

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