In the first five months of the year, beef production reached 1,247,000 tons, an increase of 2.9% over the same period last year. And of the total produced, the domestic market absorbed 75.9%, while the remaining 24.1% was destined for foreign markets, reaching the highest participation since January-May 1995. The market more for $160.8 mn.
The industry plunged 33.5% year-on-year in April according to data provided Thursday by the INDEC through its Industrial Production Index (IPI). Primary metal industries (contracted by 65.2%), the textile sector (recorded a drop of 79.1%) and the automotive sector (reduced by 100%), were the most affected items.
Financial institutions will not be able to distribute profits until 2021, as determined by the Central Bank of Argentina (BCRA).
The S&P Merval index of the Buenos Aires Stock Exchange closed at -0.4%, to 43,673 units, after rising more than 15% in the last three business sessions and accumulating in May an improvement of 15.5%. The country risk increased by 3.6% to 2,573 base points.
Financing in the stock market reached 76.91 billion pesos ($1.11 bn) in May, 227% more in annual terms and an increase of 290% compared to April, reported the National Securities Commission (CNV) on Thursday.
An International Labour Organization (ILO) study estimates that more than 720,000 people will lose their jobs in Argentina as a result of the crisis caused by the pandemic and the quarantine, both in the formal and informal sectors.