The agricultural sector is Argentina's leading exporter up to September with 21 billion dollars, representing 51% of the foreign exchange that entered the country so far in 2020. It expects that for the rest of the year and the first two months of 2021, it will generate 11 billion dollars more (an average of 2.2 billion dollars per month).
West Texas Intermediate (WTI) crude this morning was down 3.99% and trading at $37.99 a barrel on December delivery contracts. North Sea Brent oil was down 3.29% and was trading at $39.85 a barrel on deals for December as well.
The global sales of Argentine meat grew, in the first nine months of 2020 644,000 tons were exported, which reported 2.002 billion dollars. The total exported is 13% higher than the same period in 2019, but 2% lower in value due to the substantial fall in the average price of the ton of beef on the bone, which concerning the end of last year deteriorated by 22%.
Keclon, an Argentine biotechnology company focused on the edible oil, food, biodiesel and animal nutrition industries, is committed to growth. The firm obtained an investment of $7 million and will invest it in opening its industrial plant in early 2021. The investment received will help them boost the development and commercialization of enzymes for an industry that reduces the environmental impact of the industrial processes used: They are 100% biodegradable, save energy and reduce the consumption of water and other essential resources.
Entrepreneurs from the automotive sector ratified the investments planned until 2021 for a total of $5 billion. The sectorial table of the Economic and Social Agreement launched by the National Government began the formation of a tripartite entity between the State, entrepreneurs and workers, who agreed on the principal axes of work in the short and medium-term to boost production.
The Argentine Health Union, which groups clinics, sanatoriums, hospitals, diagnostic centres, social works, financiers and emergency services that serve 70% of the population, warned the Government that in recent months there had been average adjustments in medicines that exceed 500%. There are increases of up to 1100% in medications that must be administered especially to patients with COVID
The firm Seeds Energy presented its second biogas plant, in Venado Tuerto, Santa Fe, after a $12 million investment. The plant will transform the industry's seed waste into electric energy that will cover more than 5% of the consumption of the city's network and surroundings.
On Monday, an Argentine court ordered YPF to pay $231 million, plus interest and court fees, to the natural gas pipeline operator Transportadora de Gas del Norte for unpaid invoices from February 2007 to December 2011, according to securities filings by both companies.
The measures announced by the Government in early October to support wine exports involve an increase of more than 100% in reimbursements for shipments of bottled and bulk wine, sparkling wine and must. The impact of these measures would represent an estimated improvement in the sector's income in the order of $36.9 million.
Canadian mining company Barrick Gold plans to invest $628 million in projects in addition to the plan to extend the life of the Veladero gold mine in San Juan Province. It was announced yesterday by Barrick's CEO, Mark Bristow, who assured that the redesign of Veladero and the high international price of gold would allow the exploitation of the deposit until 2033 with an impact of $5 billion on the Argentine economy.