“The old policy seeks to generate uncertainty to boycott the government program. In doing so they punish Argentines: we will not allow it. Therefore, and with the aim of generating greater offer of dollars during this perioduntil October 31 there will be zero withholdings for all grains, “said Adorni in his X account.
The field’s response was swift: “We support any measure that implies eliminating withholdings even if they are temporary. We need to see the details of the way of operating and when it will be operational, “said Ciara-Cec president Gustavo Idigoras, shortly after the announcement is known.
The Argentine government is going through a key moment: You need to sustain exchange bands at least to the legislative elections – or change your exchange policy-and that task depends on the income of currencies. However, the main generator of those dollars – the field – showed signs of caution and slowed the liquidation of exports in a context of growing exchange instability, complicating the official strategy.
Despite the improvement that producers noticed in the price of soybeans, exporters waited for better future prices, which led them to delay sales. According to estimates of the Rosario Stock Exchange (BCR), between September and December some US $ 949 million would be settled, below US $ 10,303 million of the same period of 2024.
It is worth remembering that prior to this announcement, Decree 526 had arranged a retentions reduction of 20% for the grain chain and 26% for meat. In detail, the corn and sorghum aliquots dropped from 12% to 9.5%, while for the sunflower complex the export rights were 5.5% for the grain (compared to the previous 7%) and 4% for their by -products. In the case of soybeans, the rate on the grain went from 33% to 26% and that of derivatives, from 31% to 24.5%. Meanwhile, wheat and barley maintained an aliquot of 9.5%.
What does the measure published in the Official Gazette say
According to the text published in the Official Gazette, the initiative seeks to “create favorable conditions for foreign production and trade, strengthen macroeconomic stability and enhance the development of the productive sector in each region of the country.”
The decree establishes that those who export the products achieved must liquidate at least 90% of currencies Obtained within three business days after the DJVE, either by charges, advances of liquidation or external financing.
In case of non -compliance, The exporter must pay the original aliquot in force before the publication of the decree and you will not be able to use the benefit again until your situation regularizes.
Source: Ambito
