Grains: Argentina’s exports generate USD 3.4bn in August
Sep, 05, 2022 Posted by Gabriel MalheirosWeek 202236
Argentina’s grain exports generated about US$3.4 billion in August, up 5% from July. Meanwhile, the South American country is trying to increase the flow of foreign currency to rebuild the central bank’s depleted reserves.
Chambers of grain and oilseed exporters CIARA-CED said the dollar value of exports grew 11% year-on-year, which they considered a record, reaching $25.7 billion. Argentina’s central bank requires grain exporters to convert dollar earnings into local pesos.
The country has strict exchange controls to preserve scarce reserves, although analysts say the economy ministry is considering a specific exchange mechanism for the agricultural sector to encourage the liquidation of dollars.
Source: Canal Rural
To read the full original article, please go to: https://www.canalrural.com.br/radar/graos-exportacao-da-argentina-rendem-us-34-bilhoes-em-agosto/
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