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Advanced purchases of grains jumped by 156% in Argentina
Jan. 9, 2017
The anticipated sale of grain in Argentina for the next season increased by no less than 156 percent this year, compared to the same period of the previous cycle. In the first year after the export taxes were scrapped, the contracts for wheat exports jumped by 340 percent, while corn exports increased by 152 percent and soybeans by 78.6 percent. Taxes in case of external sales of oilseeds remained at 30 percent.
According to the private and official estimates for the 2016/2017 harvest, it would bring US$28 billion to the country, a 7 percent increase when compared to the 2015/2016 season.
As of now, the Director of Agricultural Markets has declared the sales volume at 14.1 million metric tons. In the previous cycle, the figure was 5.5 million metric tons, taking into account data till December of 2015.
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