So far, according to the regulations, the regime will be in force until August 31 and allows agricultural producers to convert 30% of their sales to the value of the savings dollar. The truth is The Secretary of Agriculture, Juan José Bahillo, announced last week that there would be modifications or rather “a simplification” of the norm to attract more sales of soybeans.
According to reports, there could be a specific news this Thursday after the BCRA board meeting. Initially, the Government hoped to collect through this mechanism some US$2.5 billion extra to the usual liquidation in August, which should be around US$3.0 billion. At the moment, this value seems unlikely to be achieved because, with a week and a half into force of the regime, the needle did not seem to move in favor of more sales of the oilseed.
One of the stumbling blocks of the measure, as explained in the sector itself, is that it foresees that the producer who converts 30% of his sales to the savings dollar, will not be able to acquire financial dollars (MEP) for 90 days in a row.. In short, taking advantage of the difference in the exchange rate would mean not being able to dollarize in the formal market for three months.
One piece of information that could stimulate soybean sales is the rise shown by the oilseed in the international market this week. This Wednesday it came to operate above US$630 per ton, to later adjust to US$620 per ton.
In this context, the Liaison Table hopes to be formally convened by the Minister of Economy, Sergio Massa, and his Secretary of Agriculture, Juan José Bahillo, to discuss current affairs in the sector. The unions of the field want to be taken into account in this new economic stage and transmit, once again, the complications that interventions in export markets entail.
For his part, with regard to agro-export companies, the president of CIARA CEC, Gustavo Idígoras, estimated that, hand in hand with the pre-financing of exports, the sector could liquidate an additional US$1,000 million in the next few years. weeks. A figure that at the moment is quite far from the US$5 billion that, according to what Massa announced last week, mining, agriculture and fishing were going to contribute.
Source: Ambito
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