Argentina exported $ 2.417 billion worth of agricultural products in October – CIARA-CEC

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BUENOS AIRES, November 1 (Reuters)Argentina’s exports of grains, oilseeds and their derivatives totaled $ 2.417 billion in October, the country’s chamber of oilseed processors and oilseed exporters CIARA-CEC said in a report on Monday.

CIARA-CEC said the export amount represented a drop of 1% from the previous month and an increase of 40.8% from the same month last year.

“October’s amount is a record for this month since the start of this century,” the chamber said in the report.

Argentina is the world’s largest supplier of soybean meal, which is used from Europe to Southeast Asia to fatten pigs and poultry.

CIARA-CEC said $ 28.087 billion in cumulative agro-export revenue was earned in the first 10 months of the year.

“The main factor has been the sustained growth in international prices, which has offset the decline in the quantity of exports measured in tonnes. This performance was achieved despite the notable disturbances caused by the drop in water levels in the Parana river, ”Argentina’s main grain artery.

Dry weather in southern Brazil, where the Parana originates from, has forced exporters to load less on cargo ships at ports in Rosario, the country’s main grain hub.

Revenues from grain exports are a key source of revenue for the government as it grapples with high inflation and the economic fallout from the coronavirus pandemic.

(Reporting by Walter Bianchi; Writing by Hugh Bronstein; Editing by Alison Williams)

(([email protected]; 5411 4318 0655; Reuters messaging: [email protected]))

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