The 30% tax for the purchase of foreign currency would provide the State with some 342.71 billion pesos next year, according to the national budget prepared by the Government. It is 82% more than the projected for this year and would represent a contribution of some $3.4 billion in income for 2021.
The production of crude steel registered in August a 22.8% decline compared to the same month in 2019, with a volume of 336,000 tons; however, it marked an improvement of 3.4% compared to July. The accumulated production in the first eight months of the year reflected a 32.8% drop against the same period in 2019.
Falabella’s Argentine operation recorded a 60% drop in sales in the second quarter and announced the closure of four locations, two of Falabella’s stores and two of Sodimac’s stores, where it sells construction materials. Falabella shares lost 43.85% in the last 12 months, and yesterday recorded a 2.86% decline after the news about Argentina.
In the second quarter of the year, the company Bioceres increased its sales by 46% concerning the same period in 2019, reaching 51.9 million dollars. Likewise, its income registered an increase of 17% to $174.2 million for the fiscal year 2020 closed last June. The biotechnology company based in Rosario explained that the rise in income was driven by an increase in international sales of adjuvants, bio fungicides, inoculants and seed treatment packages.
The price of soybeans on the Chicago market rose again and traded at $367 per ton, under the November 2020 position. This value took the oilseed to the maximum level in the slates since June 2018. Since last April alone, the price has gained about $60. The upward trend also reaches corn and wheat, as a result of intense Chinese demand.