Soybean closed yesterday at its best value since 2016 to trade at $404.8 per ton in the international market; there are still a little more than 15 million tons of the 2019/2020 campaign to be sold. The rains of the last weeks favoured the planting of soybean, which already covers 4.1% of the 17.2 million hectares projected. The harvest could reach 46.5 million tons, valued at $18.7 bn. It shows a 5.1% decline from the previous cycle, but the rise in prices could be the catalyst to compensate for the drop in production.
According to data released this Thursday by the INDEC, the activity of the sector rose by 3.4% compared to the same month last year. 10 of the 16 items that are part of the industry showed improvements compared to September 2019. In monthly terms, the sector's production increased by 4.3%.
Mastellone lost in the third quarter 1,785 million pesos ($22.57 mn), according to the balance sheet submitted to the National Securities Commission. The increase in costs by 40% and the freezing of sales prices caused the loss.
According to information released this Thursday by the Central Bank (BCRA), the market improved its expectations in October concerning the previous month, inflation of 35.8% expected and a contraction of the GDP of 11.6%.
Vegan Nature S.A, the business of the "plant-based food", has accelerated in the last years in the country of the roast. Between 2018 and 2019, the vegan production of medallions, nuggets, frozen foods, cheese and ice cream, grew by 72%. Last year it grew another 54% and projected sales of more than 200 million pesos ($2.53 mn) for 2021. They are expanding production, to the two existing plants, they are adding a new factory in San Martin, that will allow increased production from 57 thousand products per month to about 200 thousand.