Argentina exports $3.2 bn in farm products

BUENOS AIRES: Argentine exports of grain, oilseeds and their derivatives hit $3.16 billion in July, the South American country’s CIARA-CEC chamber of oilseed crushers and export companies said on Monday.

This was down 17% from the previous month and 10% lower than in July 2021, as a result of weather conditions and roadblocks by truckers, it added.

The chamber said these factors “deepened the idle capacity of the soybean crushing industry, which continues working at negative margins even in the middle of the peak season.” “At the same time, delays in the recovery of export (value-added taxes) are reducing the payment capacity of the exporting sector,” the chamber said in a report.