Dollar Revenue from Agro-Exports Drops 13% in First Half of Year; Clear Explanation Provided

Argentina's agro-export revenue experienced a 13% decrease in the first half of 2026 compared to the previous year, according to a report by the Chamber of the Oil Industry and the Center of Cereal Exporters (Ciara-CEC).

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What we are seeing is a year of normal commercialization, without the distortion caused by the soy dollars.

While June 2026 saw a 12% increase in dollar income, reaching $3.007 billion compared to May, it represented an 18% drop from June 2025. The cumulative total for January-June 2026 stood at $13.378 billion, marking the aforementioned 13% retraction.

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Last year you had a peak in May, June and then another peak in September. This year it will be much more moderate, so I think that's where the difference will be and surely now in July and August the liquidation will be above last year and the numbers will improve.

This decline is attributed to lower international prices and a return to more normalized sales patterns. Last year, a temporary reduction in export duties, effective until the end of June, incentivized accelerated sales. Operators note that without such distortions, like the "soy dollar" mechanism, this year's sales are more typical. Javier Preciado Patiño of RIA Consultores highlighted that last year saw sales peaks in May and June before the retention reduction ended, and another spike in September when export duties were suspended for 72 hours, leading to $7.2 billion in export sales.

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a commercialization of a normal year, with a flow of sales from producers strongly initiated by wheat, subsequently followed by sunflower, now with quite important sales positions in the case of corn and soybeans with a commercialization level between 30 and 35%.

Gustavo Idígoras, president of Ciara-CEC, described the first semester as a "historically normal sales year." He noted a strong initial sales flow driven by wheat, followed by sunflower, and currently significant positions in corn and soybeans, with a commercialization level between 30% and 35%. Idígoras anticipates a stable second half of the year, with monthly foreign currency flows comparable to the previous year, despite lower international prices. He also pointed to a significant concentration of sales in September last year due to the export suspension, which skewed the distribution of revenue.

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The forecast for the second half of the year is a fairly stable year where the flow of foreign currency can be compared month by month.