LatinNews Daily - 2 August 2023

In brief: Argentina’s agricultural exports down year-on-year

* Argentina’s agricultural exports totalled US$1.93bn in July 2023, representing a 39.2% drop year-on-year, according to the Cámara de la Industria Aceitera de la República Argentina (Ciara) and Centro de Exportadores de Cereales (CEC), chambers representing oilseed producers and cereal exporters. In a joint press release, Ciara and the CEC announced that in July, the value of agricultural exports increased by 21.8% compared to the previous month. Compared to the first seven months of 2022, the value of agricultural exports has dropped by 42% this year. According to the release, the decrease in July was a result of a poor harvest, which had been “strongly impacted” by the ongoing drought in Argentina, as well as the beginning of the ‘agro dollar’ preferential exchange rate for regional farm exports and the “general economic situation”.

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