Agro-industrial activity declined by 0.4% in April

Agro-industrial activity declined by 0.4% in April

Agro-industrial activity shows signs of stagnation in April 2023, after an upturn in March. Soybean industrialization, biodiesel and bioethanol production explain the fall.

In the fourth month of 2023, the activity of the national agro-industry measured by the agro-industrial production index (IPAA BCR) manufacturing had a decrease of 0.4% compared to the previous month. This decline was the result of lower activity in the agricultural-industrial sectors.

The manufacturing PPI published by the Rosario Stock Exchange is an index composed of various industrial activities framed within the agricultural-livestock sector, which can be found detailed in the panel of economic indicators of the agro-industry. With this index, it is expected to obtain a level of the general performance of the activities that make up the agro-industrial sector throughout the year.

The main increase was recorded in the industrialization of bread wheat (7.9%), which was followed by increases in poultry slaughtering (4.8%), milk production (4.6%), sunflower industrialization (3.9%) and cattle slaughtering (3.0%), with barley industrialization and pig slaughtering lagging behind (1.9% and 0.1%, respectively). Conversely, the main monthly declines were found in biodiesel production (-13.5%) and soybean (-12.5%), while corn-based bioethanol production recorded a smaller drop (-2.0%).

On the livestock sector side, cattle slaughtering, swine slaughtering and milk production experienced positive variations with respect to the previous month and in year-on-year terms (11.4% and 1.8% y.y., respectively). Poultry slaughtering, on the other hand, experienced a slightly positive monthly variation with respect to March, although in year-on-year terms it shows a decrease of 4.6%.

In the oilseeds sector, soybean processing showed a decrease of 12.5% month-on-month, while the year-on-year decline is substantially higher at 34.9%. Sunflower, on the other hand, experienced both a monthly and year-on-year increase of 3.9% and 5.7%, respectively. In the cereals sector, both bread wheat and barley recorded increases over March of 7.9% and 1.9%, respectively, and in the year-on-year comparison, increases of 9.8% and 3.7%, respectively, were recorded.

Finally, activity in the biofuels sectors ended with a fall in March. Both biodiesel and corn-based bioethanol experienced a decrease compared to March 2023 of 13.5% and 12.5%. In the same sense, in the year-on-year comparison, biodiesel recorded a drop of 54.8%, while corn-based bioethanol registered a smaller drop of 34.9%.


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