Category: Industry

Information about Argentina’s economic sectors

This year 57 grain – bags were destroyed, with potential losses of $3.5 mn

The violence against rural private property has increased in recent weeks with broken grain-bags. Since last December and to date, 57 broken grain-bags, which can store up to 200 tons of soy, corn and wheat, among other grains, there is a total of 11,400 tons affected, of which 1,710 tons would be lost.The criminals throw chemicals on the grain, causing total damage to it, there the loss would reach 60 thousand dollars per bag, so the potential losses would have reached 3.5 million dollars.

Corn planting in the 2020/2021 season could fall by 10%

While the 2019/2020 corn harvest is progressing, where it has reached 78.3% so far, the Rosario Stock Exchange (BCR), less than three months before the beginning of the planting, projected a drop in the area in the order of 10%. The reasons are the increase in costs, inputs and freight, but also climate and economic uncertainty.

Drug sales grew 65% in the first quarter

Drug sales during the first quarter of 2020 grew by 65% compared to the same period last year. The turnover of the pharmaceutical industry reached 70.63 billion pesos ($1bn). Medicines of national origin concentrated 71% of sales, the remaining 29% corresponded to the sale of imported products. 88% of the sales of national production were destined to the domestic market, leaving 12% for export.

In Q1, meat exports increased by 14.5% and fresh fruit by 17%

Meat exports grew 14.5%, and fresh fruit 17% in the first quarter of the year, according to data provided by the National Service for Agrifood Health and Quality (SENASA). Foreign sales of beef, poultry and pork products and by-products, they reached 334,964 tons, and the main destinations of the meat were: China, Chile, Israel and Germany. Exports of fresh fruit reached 415,715 tonnes, and the main markets were: Russia, Brazil, the United States, Italy and Paraguay.

The industry collapsed 19.9% in May despite relaxation of quarantine

Argentina’s Industrial Production Index (IPI) carried out by the Latin American Economic Research Foundation (FIEL) showed a 19.9% decline in May. The seasonally adjusted monthly fall was 3.7%, and the accumulated contraction of the first five months of the year reached 10.6% year-on-year. The decrease in automotive production, non-metallic minerals, steel production and fuel refining, led the fall.

Soybean exports will fall by $1.8 billion

Exports from the soybean complex this marketing year could fall by $1.8 billion, while the national government’s withholding tax revenues would be reduced by more than $1 billion as a result of a smaller harvest and low international prices. It was estimated by the Buenos Aires Grain Exchange (BCBA) in its oilseed campaign closing report.

Dairy consumption grew to almost 57 litres of milk between January and April

According to data provided by the Argentine Dairy Chain Observatory (OCLA), in the first four months of the year, per capita consumption of dairy products reached 56.9 litres/inhabitant of milk, increasing to 2,582 million litres of milk, 1.8% more than the previous year. In the case of production, the result was almost 3,223 million litres of milk in the January-April period, an interannual increase of 8.5%. Exports there reached 777 million litres, with a rise of 22.7% as compared with the period January-April 2019.

Agro-industrial exports represent 70% of total exports

Agribusiness was a pole of the generation of dollars in the country during the first four months, monopolizing almost 70% of the total income in terms of foreign exchange, exceeding 12 billion dollars. Total agro-industrial exports rose by 1.5%, with a surplus of $104 million with record shipments of corn and wheat.