BUENOS AIRES: Argentine exports of grain, oilseeds and their derivatives totaled just over $2 billion in November, the country’s CIARA-CEC chamber of oilseed crushers and export companies said in a report on Wednesday, slightly down versus a month earlier.
CIARA-CEC said the amount of exports represented a decrease of 15.4% compared with October, though was up 17.7% versus the year-earlier period.
Argentina is the world’s top exporter of soymeal, used from Europe to Southeast Asia to fatten hogs and poultry. The country is also a major producer of corn, wheat and barley.
Revenue from grains exports is the key source of foreign currency for Argentina’s government as it grapples with high inflation, dwindling reserves and tense negotiations over a new deal with the International Monetary Fund (IMF).
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