With the soybean dollar, the Government hoped to raise an extra $2.5 billion in August, but in truth, the measure did not have the expected impact, since the sector demands a drastic reduction in withholdings for a certain period of time to encourage sales. soy. Another fact, by no means minor, is that until last July the sector liquidated the record of more than US$23,000 million, that is to say, the field continues to be the largest contributor of foreign currency to the economy and despite any type of speculation, Exports of grains and by-products continued with their usual dynamics throughout 2022.
Meanwhile, the announcement of the advance settlement of exports for US$5,000 million in the next two months by the agricultural, fishing and mining sectors, is still not being felt in the foreign exchange market due to a logical question. The communication from the BCRA came out at the end of last week and the companies are still evaluating the steps to follow because the regulatory resolution has not yet been published.
The mechanism through which the Government hopes that more dollars will come in from the agro-export companies is, according to the BCRA, the offer of a bill in dollars that will have a term of 180 days (with the possibility of pre-canceling it) and an interest rate that “it will be set in a tender as a spread on the SOFER rate”.
Meanwhile, it was also reported that the BCRA has already enabled access to “dollar linked” sight accounts for exporters who anticipate the settlement in more than thirty days with respect to the term determined for each sector.
Lastly, another waiting period opens up in the countryside and one that does not have the agro-export companies as its protagonist, but rather the Liaison Table. It was Massa himself who at a press conference called for dialogue with the conclave of rural unions and hours later it was learned that the agricultural leaders were going to meet with Bahillo. That meeting was postponed and at the moment there is no certain date for a new meeting. Thus, with more uncertainties than certainties, the field awaits definitions while the BCRA loses currency.
Source: Ambito
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