Likewise, the academic from Austral remarked: “This would not go to pay rents, but if the board comes out higher, how do we explain that?” All questions to answer in the coming days.
In another order, Romano asserted that the Argentine climate not only weighs on wheat -which is in critical periods with low humidity contributions-, but also on the sowing of corn and soybeans that is already approaching, with no predicted rains.
And he added that this occurs in a context in which the Chicago market fell much of what it rose the previous week, there was profit taking in the face of changing yield projections in the US and in the midst of a negative financial framework.
Special exchange rate for soybean exports
The measure, arranged “in an extraordinary and transitory manner” and which will last until September 30, was announced yesterday by the Minister of Economy, Sergio Massa, after being agreed with the main export complexes, that they promised to sell soybeans and derived products for at least US$5,000 million, of which “a liquidation of US$1,000 million is expected in the first 72 hours of validity” of the measure, that is to say from today until Wednesday.
Adherence to the Program “will be voluntary, being able to access the same subjects who have exported in the last 18 months immediately prior to the validity of this decree, manufactures of soybeans and derivatives“.
To enroll in it, interested parties must, on the website of the Federal Administration of Public Revenues (AFIP), select the option “Characteristics and Special Records of the Registry Service” and, within there, the “Export Increase Program” tab. .
The program contemplates the liquidations of currencies that are carried out until next September 30 and, as a requirement, the adherents must have the registrations of Sworn Declarations of Sale Abroad (DJVE).
Likewise, as an incentive, producers who sell soybeans for export “to brokers, collectors, cooperatives, exporters and industrialists” for Program operations and that are not less than 85% of the production of their 2021-2022 harvests, can access “to the benefits and programs established by the Ministry of Agriculture” for the 2022-2023 campaign.
When disposing of the measure, the Government considered that the increase in foreign currency income “would contribute to alleviate the negative impact on local imports of the rise in fuel and energy prices that severely affects the availability of reserves“.
Likewise, it was indicated that “all export incentives” to the sector “result in incremental tax revenues through the collection of export duties” and that they can be used to serve the population most affected by high inflation and the loss of income. purchasing power”.
In this sense, with the higher income obtained from the exchange appreciation, the decree provided for the creation of the Export Increase Fund, which will receive a proportion of the collection obtained from the export rights of liquidated soybeans.
He himself will financean extraordinary non-contributory monetary benefit of national scope that ensures adequate food for people in situations of extreme vulnerability”, for which – anticipates the decree – it will be taken into account if the beneficiary has “an unemployment benefit or social programl”.
For its part, “programs that stimulate the production and development of small and medium-sized producers and regional economies” will also be financed.
The regulation, which is in force as of today, authorizes the Ministry of Economy 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.”
Source: Ambito
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