The CANIOB points out that the oilseed sector constantly provides foreign exchange to Bolivia
Soybean
Published Feb 29, 2024
Tridge summary
The sector brings its foreign currency into the country, which balances the trade balance. At the same time, it contributes to the supply of essential productive sectors for feeding Bolivians at a regulated price. In 2024, exports from the oilseed agroindustrial sector will be lower than in previous years, as a result of the delay in sowing due to drought.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
The sector brings its foreign currency into the country, which balances the trade balance. At the same time, it contributes to the supply of essential productive sectors for feeding Bolivians at a regulated price. The National Chamber of Oilseed Industries of Bolivia (CANIOB) reports that the oilseed sector has always maintained foreign currency liquidity in the country, since export dollars for soy byproducts have been entering Bolivia normally through the system. private banking. "These resources enter the national banking system and are used to cover production costs, the purchase of raw materials: soybeans, which are purchased from thousands of producers and represent 80% of the industries' costs, are paid salaries, taxes, transportation logistics, etc.,” explains the Executive President of CANIOB, Jorge Amantegui. Likewise, it notes with concern that in 2024 they will be affected by the projections of lower yields in the summer soybean harvest and very low international price ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.