Category: Macroeconomy/Finance

Information regarding Argentina’s productive sector and the country’s macroeconomy.

BCRA sold $224 million in just two days in August

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August started worse than July for the BCRA, which in just two days recorded net foreign exchange sales of $224 million. In July there was a substantial expansion of the monetary base due to financial assistance to the Treasury. It is an illusion to think about relaxing the clamp if the monetary entity continues to sell foreign currency instead of buying it. So far this year, the BCRA has recorded a loss of reserves of $1.37 billion, of which $687 million correspond to net sales in the foreign exchange market.

Soybean producers invested $741 per hectare with a profit of just $4.

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Total soybean production reached 49.6 mn tons, with yields of 29.4 quintals per hectare, and planting of 16.8 million hectares. Compared to the previous cycle, despite having the same area planted, water stress generated interannual falls of about 12% in yield and 10% in production. The participation of the State in agricultural income was almost 70% last June, where 26% of total taxes are co-shared, 67% are national (not co-shared), 5.2% are provincial and 0.8% municipal. Producers invested an average of $741 per hectare but made a profit of just $4.