Argentina is heading for a “historic export record” this year. It was announced by Cabinet chief Juan Manzur on Wednesday, August 3, stressing that “the government’s great challenge is to boost the manufacturing sector so that the South American country continues its value creation and this leads to more jobs.”
He says, “the economy is in a difficult situation, in a very complex global context, and Argentina is not an island, but despite all the difficulties, we are confident.”
According to estimates by the Bolsa de Comercio de Rosario (BCR) stock exchange, exports of agro-industrial complexes will reach a value of US$41.7 billion in 2022, 9.6% more than the previous year and 73.9% more than in 2020.
The Argentine Central Bank (BCRA) report said soybean sector exports are estimated at US$23.8 billion, up US$159 million from a month ago, mainly due to a slight increase in biodiesel export prices, more than offsetting the decline in estimated oilseed meal/pellet prices. In this way, soybeans would exceed the value of exports by US$368 million in 2021.
Corn exports would thus be worth US$9.7 billion, the same as soybeans would also set a record and exceed the 2021 value. Wheat is forecast at US$4.8 billion for 2022, up slightly by US$18 million from the July forecast.
Sunflower exports (oil, etc.) will reach US$1.8 billion this year, US$22 million less than forecast a month ago and US$498 million more than in 2021.
With information from Latina Press