The basic basket climbed 5.7% in October compared to September, and the food basket rose 6.6%. Driven by the rise in food prices under the Maximum Price program, both indexes had their most significant increase in the year. Thus, last month a family needed almost $50,000 ($624.2) in order not to be poor and $20,710 ($250) in order not to be indigent.
Between January and October, foreign sales of the pork sector totalled 36,461 tons, which represents an increase of 69.9% concerning 2019. The outlook for next year is encouraging, but the companies are claiming to solve the tax problems to speed up investments. For example, VAT is 21% when investing in the installation of a farm, and there are taxes of 10.5% on meat sales.
Soybean futures contracts continue their bullish rally, yesterday in the Chicago market closed at $429.8 a ton, a rise of more than $6 from the previous day. The March 2021 contract surpassed $431, a value not seen in at least six years. In Argentina, the oilseed was offered at $347 per ton, showing much higher … Continue reading The international price of soybeans reached a record of $430 per ton
The Argentinean subsidiary of the Brazilian company Moura announced that it would invest 450 million pesos ($5.6 mn) in installing a semi-automatic line to produce medium-size batteries. It will involve hiring local suppliers and generating 50 new jobs at the company's factory in the Industrial Park of Pilar, Province of Buenos Aires. According to the company, the investment will allow in March next year to increase the production capacity of the plant by 20%, bringing it to 450,000 batteries per year.
After falling to $6.75 per ton of Ice, the Secretary of Mining said that the international value of lithium would rebound due to the recovery of sales and penetration rate of electric vehicles in China and Europe. Earlier this month, the mining company Orocobre announced investments in Argentina for $400 million in a joint venture with the Toyota Corporation and the Government of Jujuy that will generate an increase in lithium production.
The Burford fund invested $20.2 million in the right to litigate of the Petersen group (which had 25% of the oil company's shares) as a result of the expropriation of YPF. It also bought for $26 million the rights to litigate from Eton Park, another hedge fund that also had shares in YPF. Between the two, he believes he can achieve a favourable award of between $2.5 billion and $14 billion.