Almost 80% of Argentina’s agricultural and agroindustrial exports to international markets is transported through the Parana River. However, a drought originating from Brazil reduced the level of the river by up to half a metre.

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According to the Rosario grains exchange, the reduced cargoes affected freight rates and  led ships to top-up their cargo in areas where merchandise was scarce or more expensive, Reuters reported.

However, rains are expected in Brazil soon, changing the situation, despite the fact that the increased flow is not expected to reach Rosario for around a month.