In September 2024, Argentina's agro-industrial exports reached a total of 3,943 million dollars, representing an increase of 26% compared to the same month in 2023. This adds up to 819 million additional dollars, placing cumulative exports from January to September 2024 21% above the same period in 2023, with an increase of 6,061 million dollars year-on-year.
The relative growth in agro-industrial complexes was led by the cotton, sugar-alcohol, and wheat sectors, which showed significant momentum in exports for the month. Products such as corn, beef, and cattle hides also stood out, reaching accumulated export figures of 5,739 million and 2,443 million dollars, respectively.
Despite this, the export price of corn decreased to 207 USD/ton, reflecting a 12% reduction in the exported volume compared to the previous year. The overall scenario for the first nine months of 2024 shows an encouraging outlook for the Argentine agro-industrial industry, which has managed to grow and adapt in a challenging economic environment.
The devaluation of the exchange rate has benefited several exporting sectors, increasing the competitiveness of national products in international markets. Soybeans remain fundamental in agro-industrial exports, accounting for 41% of the sector with an average export price of 471 USD/ton in 2024.
In September, the soybean, wheat, and corn complexes led exports, while the barley, sunflower, and legume sectors moderated the overall impact, maintaining a positive balance. The Multilateral Real Exchange Rate (TCRM) showed a slight decrease of 1% compared to August, with an average increase of 3% so far this year compared to 2023.
The diversification of products and positioning in international markets have been key factors in sustaining the growth of agro-industrial exports by 21% year-on-year.
