On the other hand, another window opens to take into account. It is that the measure of the BCRA, after its subsequent clarification, reaches stockpiles, cooperatives and companies, but not individuals. Another valid clarification is that the large agro-exporters have not been able to access the financial dollar for more than two years, also by resolution of the Central. So the producers, if they wanted to buy financial dollars on their own, could do so and that perhaps brought a bit of calm to the market.
Meanwhile, Gustavo Idígoras, from CIARA CEC, anticipated that “the measure will definitely have an impact on the flow of marketing of cooperatives and agricultural societies in the coming days.” Until now, an average of 400,000 tons per day had been sold and, according to the leader of the large exporters, there may still be a substantial drop because the producers who sell soybeans on their own are a small proportion of the agricultural business.
Another issue that is far from minor is that after the first resolution of the BCRA, which excluded all agricultural producers from being able to operate in the foreign exchange market, alarm lights immediately went off in the countryside because precisely the explicit promise of the Secretary of Agriculture, Juan José Bahillo, and Minister Massa went in the opposite direction. Precisely when the Government was seeking a greater rapprochement with the sector, the rope was tightened and that relationship today seems to have been quite far from the ideal that Massa imagined at the beginning of his administration.
Along the same lines, last Thursday the Liaison Board met with Bahillo and explicitly asked him to review the BCRA measure that made credit more expensive for those producers who keep more than 5% of their harvest in their silos. The secretary took note but did not promise anything. Across the street, the leaders of the CRA, Coninagro and the Agrarian Federation did make a promise, and it was that, if that measure was not eliminated, they would completely cut off dialogue with the government. Something that the Rural Society already did directly weeks ago, when it announced that it would not meet with Bahillo.
In short, once again, there is noise in the communication between the field and the Government. This time from the productive sector they point out that, despite the incentive mechanism to sell soybeans, the Government had ruled out any other advance in the sector. The rise in rates and the prohibition of access to the foreign exchange market for agricultural companies, stockpiles and cooperatives ordered by the BCRA would be quite far from that initial promise. That is why the discontent spread again like wildfire in the field and the real scope is still unknown.
Source: Ambito
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