Oil production in August fell by 10.7% year-on-year in all basins, even though non-conventional oil from Vaca Muerta increased its output 8.3% compared to the same month in 2019. The annual production of the main companies in Argentina - YPF, Total Austral and Pan American Energy - fell by 7.1% in the last twelve months.
The price of soybeans in the Chicago international market is over $390 and is at the highest level in the last two years. The contracts that expire in November of this year quoted at $390.15 per ton. The offers for available soybeans in Rosario square quoted around $300 per ton, a value not reached since May 2018.
Less than two years after the purchase by the Mexican group Siete Leguas, now the Brazilian group GBPK Inversiones Limitada has just closed a deal to become the new owner of Santista Argentina, one of the largest textiles companies in Argentina, with a turnover in 2019 of $38.91 million. This year it launched an investment plan for more than $5 million for the incorporation of new looms.
The Uruguayan government persists in implementing measures that encourage the business climate and offer more tax exemptions to those who invest and generate jobs. The government signed a decree that lowers taxes and makes the requirements to take advantage of these benefits more flexible.
Argentina's pork exports are beginning to take off. In the first nine months of 2020, they grew by 73%, compared to the same stage in 2019, reaching 31,891 tons. 65% of the cuts go to the Chinese market, which increased imports due to the impact of African swine fever on its farms.