Adherence to the Program “It will be voluntary, and subjects who have exported soybean products and derivatives in the last 18 months immediately prior to the entry into force of this decree can access it,” It says in the recitals.
Yesterday, at a press conference, Massa said that “the objective is to put incentives on the table based on an effort made by the national State and recognition of the price for the producer in a simple, straightforward and transparent way.”
The measure is based on a “settlement mechanism that simply and transparently allows access to a better price for its production,” he said, and assured that they expect “a settlement of 1,000 million dollars in the first 72 hours of validity.”
“The subjects that adhere to this Program, and that is effectively applicable to them, must register the Sworn Declaration of Sale Abroad (DJVE) and settle the currencies referred to in article 5 in the terms and conditions established by the complementary regulations., not being able to exceed said term on September 30, 2022, including the assumptions of pre-financing and/or post-financing of exports from abroad or an advance payment”, it indicates in article 6. Meanwhile, “the payment of rights, taxes and other concepts” should not be made beyond the 30th of the current one.
According to the decree, the “Export Increase Fund” with the purpose of “an extraordinary non-contributory monetary benefit of national scope that ensures adequate food for people in situations of extreme vulnerability. To this end, it will be taken into account, at the time of establishing it, if the people are beneficiaries of any unemployment benefit or social program, whether granted by the national government, the provinces, the Autonomous City of Buenos Aires or the municipalities.
For producers, the decree also includes a sort of benefits scheme. “Agricultural producers who sell soybeans for export to brokers, collectors, cooperatives, exporters and industrial soybeans to affect export operations of this Program for a percentage not less than eighty-five percent (85%) of their production referring to the 2021-2022 harvest and with a perfected or fixed price before September 30, 2022, they will be able to access the benefits and programs established by the Ministry of Agriculture, Livestock and Fisheries for the 2022-2023 harvest,” says article 11 .
Article 13 includes a paragraph for futures markets: “In the Markets authorized by the National Securities Commission, the delivery of the underlying asset corresponding to the fulfillment of Soybean Futures contracts and the trading called “available”, in both cases, which are carried out from the entry into force of this decree and during the month of September 2022, They will be invoiced considering the exceptional and transitory countervalue provided for in the first paragraph of article 5 of this decree.
Meanwhile, article 14 mentions that the Ministry of Economy is authorized to issue 10-year bills in dollars “for up to an amount that covers the difference in assets for the operations of this Decree that occurred to the Central Bank of the Argentine Republic, which will accrue an interest rate equal to that accrued by the international reserves of the Central Bank of the Argentine Republic for the same period and whose interest will be canceled every six months.
The plan will run until September 30.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
