The truth is that everything remains to be seen. Early this Wednesday from the agro-export sector they let it be known that they had been summoned to discuss the implementation of this differential exchange rate.
“The Government has contacted CIARA-CEC for the purpose of communicating that they are evaluating implementing for the month of September a special and extraordinary foreign exchange settlement regime at an exchange rate of 200 pesos only applicable for the purchase of soybeans, during the month of September. The Government would also include the need for registration of DJVEs of soybeans and by-products under Law 21453. This special condition during September would be of voluntary application for exporters who adhere to the regime in writing via communication to the AFIP. It would not be necessary to have special accounts in dollars or correspondents under the latest communication from the BCRA”, reads the text that circulated among the companies in the sector and which Ámbito managed to access.
Meanwhile, just hours after this possibility emerged, from CIARA CEC they came out to calm the waters and detailed that until now they had not been communicated regarding a specific decision of the Government. Also within the possibilities that would be considered to add more foreign currency in September would be to expand the exportable quota of corn, specifically by expanding the balance volume set some time ago by the Government.
Thus, in particular, the Government negotiates against the clock with agro-export companies because on the last business day of August the 70/30 mechanism expired, through which they carried out just over 200 operations. Even only two banking entities reported operations of this type.
The producers explained as soon as the previous mechanism was launched that it was not only cumbersome to put into practice but that it did not change the economic equation. Starting from a possible exchange rate of $200, producers would receive a substantial improvement in the price of a ton of soybeans, which would go from the current $55,000 to around $70,000. The field waits expectantly for the announcements, which would arrive in the next few hours.
Source: Ambito
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