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Argentina grains exports brought in $3 bln in August -CIARA-CEC

Argentina-grains-exports-brought-in-3-bln-in-August-CIARACEC-6521.jpg      Argentina’s oilseeds and grains exporters chamber said on Wednesday overseas sales brought in some $3 billion in August, boosted by high global grains prices, up 75% from the year-earlier period though down about 13% from the previous month.


Argentina’s oilseeds and grains exporters chamber said on Wednesday overseas sales brought in some $3 billion in August, boosted by high global grains prices, up 75% from the year-earlier period though down about 13% from the previous month.

The Argentine Chamber of the Oilseed Industry (CIARA) and the Cereal Exporters Center (CEC) said foreign currency income from farm exports in the first eight months of the year totaled $23.2 billion.

Argentina’s farm sector dominates the country’s exports and is critical to rebuilding battered foreign currency reserves that were drained over the last two years amid economic and debt crises, a plunging currency and high inflation.

The South American country is the world’s top exporter of processed soy and a major producer of wheat and corn.

Source: Reuters (Reporting by Jorge Otaola Editing by Paul Simao)

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