Buenos Aires Grain Exchange raised its forecast for Argentina's corn production to 50 million mt in 2019-20, up 1 million mt from the previous estimate, and not far behind the record 50.6 million mt harvest during the last season. Argentina, the third largest exporter of corn in the world, is likely to export 33.5 million mt of corn in 2019-20, compared to an estimated 36 million mt in 2018-19, according to the US Department of Agriculture.
The production of industrial SMEs in January registered the lowest decline in the last 20 months, with a 0.3% fall compared to the same period of 2019, the Argentine Confederation of Medium Enterprises (CAME) reported. Six of the eleven surveyed items fell and only one remained unchanged. The four sectors with annual growth were Food and beverages (0.2%), footwear and leather goods (1.9%), chemical products (11.9%) and textile and clothing products (2.3%).
The added value of the Argentine manufacturing industry fell by 18.6% between 2011 and 2019, affected by cycles of marked recession in Brazil, closing and opening of imports and release and control of the exchange system, according to a study by IERAL Fundación Mediterráneo. The gap with the Agriculture and Livestock sector was 25.4 points, since the latter registered a positive variation of 6.8% in the period.