April 12th – Argentina’s “bonus” Exchange rate season

April 12th 2023

Argentina’s “bonus” Exchange rate season


National Holidays: Monday May 01st, Labor Day


Grains and Markets:

Costa Rica is in the market for a Supramax of soya meal on August dates.

South Korea’s KFA is looking for 66,000 tons maize on July/August dates.

Colombia wants a Supramax of maize on August dates.

Argentina’s “bonus” Exchange rate season:

Volumes of soyabeans are being traded in reduced volumes partly because of the short quantity available due to the drought and due to the expectation of the “bonus” exchange rate which still requires some legal fine tuning before implementation. Only 5,500,000 tons of new crop have been traded versus 12,500,000 tons traded at the same time last year.

Speculation is that 3,000,000 tons of soya beans may be sold and exported under this scheme until May 31st.

2022-2023 Drought:

CIARA-CEC, the local crushers and grain exporter’s association is expecting that the drought may cause a drying up of soya bean exports by end-August 2023. Although estimations are that between 8 and 10,000,000 tons of soya beans will be imported for processing (Paraguay plus Brazil) there will be a shortage even for the crushing industry.


Bunker deliveries at Zona Comun:


As always, the STS operation is up to the discretion of the Master’s of the vessels involved.


Will keep you posted.

Best regards,

Antares Servicios Maritimos S.A.

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