The industry grew 13.8% per month in June

Due to the reopening of more activities after the strict confinements to prevent the spread of Covid-19, the manufacturing industry showed a monthly recovery of 13.8% in June. Although there was a 6.6% drop in comparison with the same month in 2019, the year-on-year decline was the smallest since February. The food and beverage sector rose by 4.8% compared with June last year, while the chemicals sector saw a 7.6% improvement. Since February there has been no year-on-year growth in the industry. The industry grew 13.8% per month in June

Free Market ADRs rose 4.4%, the company’s valuation exceeds $60 bn

One day after the announcement of the agreement for the restructuring of Argentina’s foreign debt, Wall Street shares rose 4.4% to trade at $1.225 billion. In this way, the company’s valuation exceeds $60 billion, a historical record, and has accumulated rise of around 115% since December. Currently, the Argentine company has operations in more than 15 countries in the region.

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

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.

Revenue dropped 13% in real terms in July

The national government’s revenue in July was up 24% year-on-year in nominal terms. According to own calculations based on estimated inflation for last month of around 2.2%, there was a real fall of 13% compared to the same month in 2019, a lower figure than in previous months.

A partnership between Shell and TGS to build a gas plant in Vaca Muerta

The Argentine subsidiary of the Anglo-Dutch oil company Shell announced yesterday an agreement with Transportadora de Gas del Sur (TGS) for the construction of a new gas treatment plant in the Bajada de Añelo block. The contract will be for a minimum term of two years and consists of the provision of midstream gas dehydration, filtering, regulation and measurement services with a capacity of up to 1 million cubic meters per day. The gas pipeline is 150 kilometres long, crosses 30 productive areas of the Vaca Muerta formation, and will allow transportation of up to 60 MMm3/d, which will condition at the plant built in Tratayen, before injection into the regulated transportation systems.