The goal of central bank is that soybean liquidations are, at least, some US$2.5 billion higher than expected until August 31, and thus help to strengthen international reserves.
Specifically, the regulation establishes that producers may deposit 70% of the income produced by the sale of soybeans in a sight account (that is, with access to these funds at any time) that is adjusted daily based on the evolution of the A3500 exchange rate.
Also, for the remaining 30%, the formation of external assets will be allowed at the value of the official dollar plus the PAÍS tax and the withholdings on account received by the AFIP.
According to calculations by the Ministry of Agriculture, there are currently close to US$10,000 million in grains that have not yet been liquidated, of which a smaller portion -close to US$3,000 million- is in collection centers, but still without a fixed price, so its sale has not yet materialized.
Benefits for the producer
On the one hand, they can have almost unlimited access -for 30% of the sale they make- to the purchase of dollars at an exchange rate that is 25% cheaper than the MEP Dollar (it closed at $280 on Friday), a market to which they can legally access to sell the dollars they obtain from this operation.
In addition, not only can they deposit 70% of the pesos in an account that pays them interest equal to the variation in the exchange rate on a daily basis, but they can access the funds deposited in that account at any time, without having to wait the 30 days -at least- that has a fixed term.
Source: Ambito
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