Updated: May 17
Vicentin is an Argentine agro-industrial firm that specializes in textiles, agriculture, and agricultural goods. It is a key participant in the Argentine soy industry, with a sizable market share in soy crushing. Vicentin is also one of Argentina's leading soy exporters and one of Paraguay's top ten. In addition, the firm produces biodiesel on a daily basis, with a daily capacity of 500 tons, and it operates a feedlot with a capacity of 20,000 cattle. Vicentin S.A.I.C. is chosen as a soy powerbroker and is also evaluated for its beef exposure.
Region: Latin America & The Caribbean
Sector: Agribusiness, Food & Water
Signing date: 9/4/2013
Total FMO financing: USD 25.00 MLN
Environmental & Social Category (A, B+, B or C): B+
Vicentin was in sixth place with a market share of 8.6% with exports registered in the 2018/19 campaign for 8.7 million tons. The nationally owned (Argentina) company that in early December incurred a default in alleging financial stress with debt close to the US $ 1,350 million and which is currently going through a preventive bankruptcy had growth in its offices abroad in the 2018/19 campaign of 23.5% compared to the previous cycle. Due to this situation, the national government has decided in recent weeks to intervene and expropriate the company based in the Santa Fe town of Avellaneda, a measure that was partially contested by the courts. In 2019, Vicentin managed to increase its exports by 1.6 million tons compared to the previous period, mainly supported by corn shipments. Despite this, the company is currently practically paralyzed both in its operation and in sales abroad as recorded in the sworn statements of sale abroad (DJVE) of the 2019/20 campaign as of March 30. Until that date, according to the BCR survey, the Santa Fe company only had declared sales of 200,000 tons.
They complete the ranking of the top 10 companies Oleaginosa Moreno owned by the Swiss Glencore with 7.6 million tons. France's Louis Dreyfus Company (LDC), with 6.8. The Argentine cooperative ACA with 5.4 and Molinos Agro with 4.9 million tons. The income from grain and by-product exports totaled the US $ 23,719,532,500 last year according to the Chamber of the Oil Industry and the Cereal Exporters Center (Ciara-CEC). For the grain analyst and broker José María Panero, the Argentine grain trading system has very few buyers with many suppliers.
Vicentin is a 100% family-owned firm whose primary commercial activity is oilseed crushing, which accounts for 80% of total income. Vicentin boosted its crushing capacity from 20,500 to 26,500 tons per day with the recent installation of the new state-of-the-art Timbues crushing facility, making it Argentina's third-biggest soybean and sunflower seed crusher. Vicentin is also involved in the manufacture of lecityn, biodiesel, gliceryn, and bioethanol, in addition to oilseed crushing. Exports account for 83 percent of overall Vicentin sales, with the figure expected to climb to 89 percent next year.