The Government reported that exports of fresh fruit certified by the National Service for Agrifood Health and Quality (SENASA) rose by 6 per cent in the first ten months of the year compared to the same period in 2019.
Through a drastic 70% reduction in investments and a 20% adjustment in operating costs, the state oil company YPF managed to reduce the record losses it experienced last quarter. Red was $482 million, an improvement over the $1.26 billion it had lost in the previous quarter.
The cement dispatches registered again a monthly rebound in last October, this time of 4% against September, although the fall in interannual terms of 13.2% maintained. The installed capacity of the industry is 15.3 million tonnes per year, 1.27 million per month. In October it was used 85%, compared to 52% in May and 63% in June.
Yesterday the oilseed reached its highest value in more than four and a half years in the Chicago market to close at $418 per ton. In Argentina, the available production negotiated at $340 per ton that could generate a reactivation of sales of the 2019/20 crop.
Genneia, a leading company in renewable energy generation, announced yesterday a new placement of Class XXX Negotiable Obligations (ON), denominated and paying in dollars, with a 12% coupon and 2-year bullet amortization. The tender will be open until next Monday, November 16th, inclusive, and that the payment address is in New York, with the possibility that the cancellation of the coupon and the amortization will take place in Argentina. The operation organized by Banco Macro and has Macro Securities, Balanz, BACS and BST as underwriters.
Hand in hand with the growth of private construction and the manufacture of durable goods, steel production, increased in October. The production of crude steel increased in October by 6.9% compared to September and stood at 0.1% in year-on-year terms. In rolling mills, the increase was 21.4%, with a contraction of 1.7% compared to the same period in 2019.
The fintech sector increased its operations in Argentina, and with the digital transformation, they increased their participation in the money market. The restrictions imposed by isolation helped. Argentinean fintech companies employ more than 10,000 people directly and have 10,000,000 customers throughout the country. In the last two years, the ecosystem has doubled to over 260 operators.