The Riccillo Group inaugurated a bioenergy plant located in General Alvear, Buenos Aires, after an investment of 5.5 million dollars, which will inject 1MW into the national electricity grid. The plant has three biodigesters fed with pig and poultry effluents, with a capacity of 5 million litres each.
Month: December 2020
The government closed exports of about 4.27 mn tons of maize to prioritize the domestic market
The government temporarily closed the register of maize exports to supply the grain to sectors that use it as a raw material to produce animal protein on the domestic market and contain food prices. The measure aims to make the 4.27 million tonnes available during the summer months when cereal supply tends to be tight.
New vehicle sales close the year with a drop of 25.5%
The number of 0km vehicles sold in December fell by 3.6% year-on-year and closed the year with a fall of 25.5%. The sector is calling for incentives to return to pre-pandemic levels during 2021.
An estimated 15% drop in exports in 2020
During 2020, exports would have decreased by 15% to $55.4 billion, a drop above the regional average of 10.5% for Latin America and 8.4% for Mercosur countries. The country's exports in all of 2020 will be equivalent to what China exports in one week and what Brazil sells in three months.
Merval falls 35% in dollars in 2020
Despite having made a strong recovery in November, the Merval index suffered a severe blow to the 2020 average, at least if measured in dollars, with a fall of 35 per cent.
Banks disbursed more than $1.76 bn in loans to SMEs
Banks have already disbursed 147.864 million pesos ($1.76 bn) in subsidized-rate loans launched in October through the new Financing for Productive Investment in Micro and Small Enterprises (MiPymes) scheme, designed for companies that are recovering working capital and expanding their production processes after months of the crisis caused by the Covid-19 pandemic. Forty-nine thousand six hundred nineteen companies have already benefited from these lines, which have maximum interest rates that depend on the funds' destination.
Soybeans surpassed $477, and the harvest valued at more than $5 bn
In Chicago, the oilseed closed at $477.1 a ton, its highest value in six and a half years and represented a 58% rise from its March low this year. In just over eight weeks the total harvest, adding wheat, maize and soybeans, rose by about $5 billion. In this framework, the foreign currency generated by the agroindustry may become the ideal lifeline for the Argentine economy in 2021, considering that with the scenario of an estimated income of $29 billion, a growth of 35.4% compared to the $21.43 billion estimated by the Rosario Stock Exchange for 2020.
Almost 40% of SMEs had problems meeting demand
During the third quarter, the recovery observed with orders doubling from the second quarter placed 38% of industrial SMEs in a situation where they could not immediately meet demand. The study points out that this situation warns of the deterioration of physical capital, the difficulty of reactivating all the personnel, and the insufficiency of these companies' working capital.
Quilmes exports around 50,000 bottles of beer to the Scandinavian countries
Cervecería y Maltería Quilmes reported the export of its traditional Quilmes Clásica in the Scandinavian countries, providing direct coverage of its product to Denmark, Norway, Finland and Sweden. To date, around 50,000 bottles have already exported, and during 2021, it expects to ship approximately 120,000 bottles. During 2019, the company exported more than $300 million.
The strike in the ports lifted after 20 days of the conflict
Finally, there was an agreement between the oil unions and the agro-export companies, and lifted the strike in the ports at 6 am this Wednesday. The strike in the Argentine ports caused a sharp rise in grain prices on the Chicago Market. So far, 173 ships are waiting to load nearly 4.7 million tonnes of grains, oil and soy flour for over $2 billion. As of December 16, only 38% of the 1.7 million tons of corn scheduled for whole December shipped.
