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 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.
Food prices accelerated again during the first week of January, rising by 1.2%, up 0.8 percentage points from the previous week. They accumulated a monthly average increase of 4.5%. The rise influenced it in cost and commodity prices.
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.
The 2020 moratorium of the Federal Administration of Public Revenues (AFIP) generated 1.2 million payment plans that allowed 533 billion pesos ($6.26 bn) in tax, social security and customs debt unregularized.