Metallurgical industrialists want to return to exporting $7.5 billion a year, as they did a decade ago, lost due to the recurrent economic crises. Among the complications is to improve the so-called Tax Bonus Regime for Capital Goods, a benefit that most of the SMEs in the sector have to compete with the robust industry of São Paulo.
The price per square meter of real estate in the Autonomous City of Buenos Aires, calculated in dollars, fell 11% between January 2020 and May 2021. The value went from $2,256 per square meter to $1,958 this year.
Wheat exports to June of the 2020/21 season fell 30% year-on-year to 7.52 million tons. Dispatches were almost 3 million tons lower than those shipped on the same date last year, which meant the lowest tonnage since the 2015/16 cycle. Despite this, the improvement in international wheat prices provided substantial support to the value of exports in recent months.
The dairy company Mastellone Hermanos S.A. informed that it successfully completed the exchange process of its Series F bonds for an amount of $200 million. The transaction involved using a combination of different financial instruments, including the issuance of a new international bond in the amount of almost $111 million.
The first half of the year closed with a record foreign currency inflow of $16.6 billion. The determining factor for the record liquidation of foreign currency from the countryside was the high international prices, particularly for soybean and corn, which showed increases of around 40% during the last eight months.
To increase the productive capacities of a sector going through a period of high demand, the Government will launch a financing plan for the naval industry. It is a new credit line at a subsidized rate of 9,000 million pesos ($93.97 mn).
In the last two months, the sneakers factory Dass incorporated 200 employees in the plant that operates in the city of Eldorado, in the province of Misiones. It also resumed the production of sports footwear for Nike. Currently, the plant produces 6,700 pairs of sneakers per day, and the aim is to double the output in the following months to increase it up to 17,000 pairs per day, among all the brands.
Tenaris announced this Tuesday the start of its hydraulic fracturing operations in Vaca Muerta. As of June, 90 fractures have already been completed in 3 wells with excellent efficiency indicators, accompanying the increase in production levels of the Fortín de Piedra unconventional gas field.
Vista Oil & Gas and Trafigura Argentina announced yesterday the signing of a $250 million joint investment agreement in Vaca Muerta to develop 20 wells in the Bajada del Palo Oeste block. This alliance allows us to strengthen our business in Argentina and integrate the supply of crude oil for our refinery and the subsequent collection of fuels for our network of service stations, wholesale customers and the export market in neighbouring countries.
June would close with foreign exchange earnings from the agro-export sector of around $2.6 billion, a figure down from May's record of more than $3.5 billion, but in line with the historical average.