Argentine agricultural exports reached a US$ 4,231 million record

The Argentine Edible Oil Association (CIARA) reported that agribusiness exports during May 2022 generated a total value of S$ 4,231 million, a record for the month. In comparison with April’s performance, the growth was 33%.

Based on CIARA’s assessment, businesses were affected by student trends in the international markets, on top of the idle industrial capacity of soybeans, which has seen negative margins even during full harvest, and also the limitations imposed by the Ministry of Agriculture, Livestock, and Fisheries’ regularization of corn and wheat.

According to CIARA, “most of the foreign currency revenue in this sector occurs before export operations, with payments anticipated in up to 30 days in the case of grain exports and up to 90 days in the case of edible oil processed soybean bran. The payment schedule also depends on the harvest of such grains so that there are no delays in settling the exchange rate.”

Source: Portal Portuário

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