This Tuesday morning, the Secretary of Domestic Trade called a meeting with the Union of Noodle Industrialists of the Argentine Republic and confirmed to its head Juan Airoldes that the state will continue to subsidize flour. It will do so through the Wheat Stabilizer Fund, which intervenes in the price of the bag of flour used by bakers and is financed with the temporary suspension of the withholding differential that benefited the oilseed industrial sector on primary production.
Thus, the Government seeks to dismantle a sharp rise in the prices of noodles and reduce the impact on the basic basket. In any case, although minor, there will be increases. Entrepreneurs in the sector maintain that in the formula that updates prices monthly there is a delay of 20%, they claim to recover half. As explained from the private sector, the Secretary of Commerce is going to review this situation and will make a counteroffer next week.
In the afternoon, in a meeting that Pollera’s office described as “very good,” the official received representatives of the chambers and bakery cooperatives. In this framework, the incorporation of new mills to the wheat trust was announced. In exchange, the manufacturers promised to maintain a “reasonable” price for bread throughout the country.
In addition, a coordination table was established to dialogue with the entire value chain. There will also be talks with suppliers of margarine and fat. Earlier in the week, bakers had warned that the price of bread could rise to $400. As Ambito was able to find out, the commitment, after Tuesday’s meeting, is that it will be between $260 and $320 depending on the area.
The Government thus seeks to give a sign of stability in a complex financial context that is already transferring its effects to the real economy. A few days before closing the month, several of the consultants that survey prices weekly predict that July’s inflation will be the highest of the year and place it above 7%.
Source: Ambito
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