Global Courant
It is an estimate of the Rosario Stock Exchange for the drop in production.
Net exports of the five main grain complexes could fall 53% year-on-year this year, to 18.4 billion dollars, and will rank as the lowest in more than 13 years as a result of the historic drought that affected the country, according to estimates the Rosario Stock Exchange (BCR).
In this way, the Rosario stock exchange projected a decrease in exports of the soybean, corn, wheat, barley and sunflower complexes of 20,900 million dollars compared to 2022, when revenues of 39,300 million dollars were obtained and of the 23,600 million dollars shipped in 2010.
Thus, the BCR predicted that the total exports of the Argentine agro-industrial sector will be located at US$ 24,253 million and those of the country at US$ 69,281 million, representing a fall of 21.6% compared to last year.
“The effects of the severe drought and the three consecutive years of La Niña continue to be reflected in production and export statistics. In this sense, the significant cutback experienced by soybean, corn and wheat crops has had a full impact on foreign trade” , explained the Rosario Stock Exchange.
Along these lines, he noted that “in the 2022/23 campaign we have almost 22 million less soybeans, 19 million less corn and a drop of 11.5 million wheat compared to the productive volume of the 2021/22 harvest.”
In addition, “not satisfied with the drop in exports in tons, the downward trend in international prices of agricultural chains also pushes the adjustment of national exports.”
Consequently, the foreign sales of the main agricultural chains are cut by 11% compared to the last estimate made last month by the stock exchange entity, implying a loss of US$ 2,300 million in one month.
