Argentine Grain Exports Generate $1.501 Billion Revenue in March 2024

Apr, 02, 2024 Posted by Gabriel Malheiros

Week 202414

Argentine grain and derivate products exports generated revenue of $1.501 billion in March 2024. The amount represents a 22% increase compared to March 2023. The data was released by the Chamber of Oilseed Industry of the Argentine Republic (Ciara) and the Center of Grain Exporters (CEC), entities that represent 50.1% of Argentina’s total exports. In the first three months of the year, revenue totaled $4.523 billion, a 61% increase compared to the previous year.

According to the grain associations, the performance partly reflects the adoption of the reference value called the “exporter dollar,” which can be used for new future contracts for grains and oilseeds. However, they noted that the grain export and soybean crushing industry continues to operate with high levels of underutilized capacity.

The main product exported by the sector is soybean meal, which accounts for 12% of the total sold abroad by the country. Soybean meal is followed by corn (11% of the total) and soybean oil (6.9%).

The following chart shows the twenty-foot container equivalent volume of Argentina‘s corn exports (hs 84) between Jan 2022 and Jan 2024. The data is from DataLiner.

Corn Exports from Argentina | Jan 2022 – Jan 2024 | TEU

Source: DataLiner (click here to request a demo)

Source: Broadcast Agro

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