Argentinean meat exports to China grow 10% compared to 2019

Beef exports totalled 94 thousand tons in November and the first eleven months of the year they amounted to 825 thousand tons, for $2.51 billion, with a 10% increase in volume compared to the same period in 2019 and due to record demand from China, although there was an 8% drop in sales due to the international fall in prices, informed today the Argentine Meat Exporters Consortium (ABC).

Soybean: the price increase would bring in 37% more foreign currency

Soybean prices continue to rise in the Chicago market, closing at $506 on Friday, and expected to remain at record levels in the medium term thanks to China's strong demand and the drought affecting Argentina and Brazil. Within this framework, a 37% increase in the soybean complex's foreign exchange income expected to total just over $22.58 billion, last year's revenue was $16.48 billion.

Change in withholding tax calculation makes vehicle exports more expensive by 12%

With the changes introduced in how withholding taxes on car exports calculated, local terminals already anticipate a reduction in estimates of foreign sales and, consequently, production. Until the end of the year, the surcharge for each 0 km exported was 4%. Now the tax is 4.5%. While the country needs dollars, the controversial measure takes away local automakers' competitiveness and punishes more those vehicles with more domestic parts.