According to data from the Chamber of the Chemical and Petrochemical Industry (CIQyP), production in January, measured in volumes, fell 11% compared to the same period last year. The entity points out that the drop was due to plant shutdowns caused by raw material shortages or unscheduled maintenance. Sales in the local market improved by 5% compared to a year ago. Exports, on the other hand, fell 19% during the same period. And the sector's installed capacity showed an average utilization of 58% for primary and intermediate products and 83% for petrochemical products.
The drought that is currently affecting the soybean and corn campaign in the core region -the most productive in Argentina- is causing a drop in production and the estimated foreign currency income for this year. In any case, the news continues to be encouraging for the local economy because, despite this scenario, a revenue of just over $27.2 billion expected, representing a historical record, according to the new projections of the Rosario Stock Exchange.
The construction cost rose 5% in February to increase by 8.2% in the first two months of the year. In year-on-year terms, the increase reached 40.8%. According to INDEC, February's result resulted from a 4.6% increase in the Materials chapter, a 4.9% increase in Labor and a 7.4% increase in General Expenses.
YPF announced yesterday an investment of $184 million for its operations in the province of Chubut, where it will add two new rigs to the 13 existing rigs in its fields. The action is part of the investment plan announced last week for a total of $2.7 billion.
The National Agency for the Promotion of Research, Technological Development and Innovation (Agencia I+D+i) and Banco Credicoop signed an agreement for the credit entity to allocate 300 million pesos ($3.29 mn) to finance investments in science, technology and innovation.
La inflación mayorista se aceleró al 6,1% en febrero, la cifra más alta en un año y medio. Los aumentos de precios estuvieron impulsados fundamentalmente por las subas en productos primarios nacionales (8%) de acuerdo con los datos informados este miércoles por el INDEC. Particularmente resaltaron los incrementos en petróleo crudo y gas (10,2%) y en productos agropecuarios (6,8%). Cabe recordar que ambos rubros también habían explicado la mayor parte de los aumentos de enero.