Argentina's exports of grain, oilseeds and their derivatives were just over $ 2 billion in November. The oilseed industry association CIARA announced this morning.
CIARA experts said that the amount of exports represents a decrease of 15.4% compared to October, although it increased by 17.7% compared to the same period last year.
Argentina is the world's largest exporter of soy flour, which is used for fattening pigs and poultry from Europe to Southeast Asia. The country is also a major producer of corn, wheat, and barley.
Grain and oilseed export revenues are the Argentine government's main source of foreign currency. One is fighting against high inflation, dwindling reserves and tense negotiations on a new agreement with the International Monetary Fund (IMF).
According to CIARA, $ 30.1 billion in cumulative foreign exchange income was generated from agricultural exports in the first eleven months of the year.
"The strength of international grain prices and continued demand for replenishment of stocks resulted in stable international prices," added the company.
"However, the amounts are lower than in previous years, with union strikes and very low levels in the Paraná River being major obstacles."
Last year's dry weather in southern Brazil, where the Paraná originates, has forced exporters to reduce loading onto cargo ships in the ports of Rosario, the country's main grain hub.
Source
Hansa Terminhandel GmbH