Argentina: Agro liquidated 3,500 million dollars in April but projected a fall in May-June
Soybean
Argentina
Published Apr 28, 2022
Tridge summary
The agro-export complex will close in April with a foreign exchange liquidation of USD3.5 billion, private sector sources told BAE Negocios. The favorable scenario of international prices, with soybeans once again heading towards USD650, minimized the impact of the 2-point rise in soybean meal and oil retentions. In relation to March, this figure represents an increase of almost USD500 million and is the best historical record for that month. In mid-March, the national government closed the registration of exports of soybean meal and oil. After announcing the increase in withholdings on these by-products, which went from 31% to 33%, and the creation of the Wheat Stabilizer Fund, foreign sales were reopened. Analyst Pablo Adreani explained that the main factor that drove this rise was the international price of soybean by-products. Since the war between Russia and Ukraine, the price of commodities is on the rise, which in addition to beans and their derivatives, also affected corn, wheat, and sunflower.
Original content
The agro-export complex will close April with a foreign exchange settlement of USD3.5 billion, private sector sources told BAE Negocios. The favorable scenario of international prices, with soybeans once again heading towards USD650, minimized the impact of the 2-point rise in soybean meal and oil retentions. In relation to March, this figure represents an increase of almost USD500 million and is the best historical record for that month. In mid-March, the national government closed the registration of exports of soybean meal and oil. After announcing the increase in withholdings on these by-products, which went from 31% to 33%, and the creation of the Wheat Stabilizer Fund, foreign sales were reopened. Analyst Pablo Adreani explained that the main factor that drove this rise was the international price of soybean by-products. Since the war between Russia and Ukraine, the price of commodities is on the rise, which in addition to beans and their derivatives, also affected corn, ...
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