The measures were announced by the Minister of Productive Development, Matías Kulfas, who assured that he ruled out that inflation can be lowered compared to official projections for 2022 (38-48%) with these international prices. “The central objective with this package of measures is to resolve uncertainty, curb inertia and compensate for cost increases, in order to stabilize the accelerated inflation in the short term, and dissipated the international scenario, resume the downward path “.
confirmed measurements
From the Ministry of Productive Development, Kulfas announced at a press conference that reference prices for bread, noodles and flour will be set at February values. At this time, they are being defined by the Secretary of Internal Trade, in charge of Roberto Feletti, and they will be transmitted to the bakery and the industry. The agreement with the bakers to sell a kilo between $180 and $220 in mid-February was set aside by the merchants, who these days in the AMBA they trade it between $240 and $320as commented in the sector.
In order for industry and commerce to comply with the reference prices, the Government will subsidize the flour. The ton was sold in February for $24,000, and at this time it is trading at $35,000, due to the international increase in the price of wheat, as a result of the war in Ukraine, which led this commodity to trade from US$300 to more of US$400. “If we didn’t take any action, that more expensive wheat immediately meant more expensive bread, flour and noodles, a massive transfer of prices to the table of Argentines,” Kulfas said.
This subsidy to be charged by the milling industry, led by Diego Cifarelli, will be funded by the increase of 2 withholding points in soybean derivatives (oil and flour). According to sources from the Ministry of Agriculture, they estimate that exporters will contribute US$350 million, to subsidize around 3.5 million tons of wheat. The portfolio led by Julián Domínguez requested that it be subsidized with the extra contribution that there will be withholdings due to the international rise in wheat, corn and soybeans, but the Ministry of Economy told them that they need that surplus for energy imports.
In any case, Kulfas announced that flour prices will not remain frozen, as Feletti initially wanted for the whole year. “Prices go back to February and then follow a logical sequence with headline inflation, but there will be no jumps.”
The other confirmed measure will be the start-up from this week on a line of Loans to the milling industry for $8,000 million at a subsidized rateso that the mills can accelerate the purchase of wheat to produce flour.
what’s coming
The next announcement will be presented by Feletti: it will be like Super Cerca, a program that the former Secretary of Commerce, Paula Español, had designed, with a food basket with prices set in the same packaging so that it reaches nearby businesses, where it does not reach Care prices. They will be around 60 products and will change the name it had last year. They will seek to announce it this Wednesday, since on Thursday, March 24, memory day, they do not want to make this type of announcement.
On the other hand, this Tuesday the negotiations between the Government and the businessmen will continue, although this time, they will be hand in hand with each company. On Monday, the meeting between Kulfas, Feletti, the Copal producers and the ASU supermarket owners was “tense”described Kulfas, because each marked that “the marker was the other.”
The Ministry will seek to return prices to March 8, given that since that date they have verified increases of between 5% and above 20% in less than two weeks, especially in those linked to wheat and corn. “It is going to be analyzed on a case-by-case basis,” Kulfas said, although for the time being he has ruled out implementing maximum prices. “If necessary, we will do it again,” he said, after mentioning the “positive balances” of some foods.
As this newspaper learned, the highest increases occurred in baked goods, pasta and cereals, but there were also products with strong increases without increases in commodities, from wine, milk, sugar, soft drinks and even sweets. In a price list released by the chamber of grocers, Arcor today sent a new list with increases of up to 18%, from flour to ice cream and chocolate.
On the other hand, Kulfas indicated that “it is not ruled out” the national food company. It will be a company that already belongs to the Central Market, which they will seek fund with $600 million, to function as a stabilization fund. “We are very concerned about fresh prices,” said the minister, in relation to the exponential jumps in vegetables.
Source: Ambito
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