In September, the level of settlements rose 140% compared to August, while the rise shot up to 198% compared to the same month of 2021. “If the necessary conditions and stimuli are given, lowering the high tax burden and/or with a competitive exchange rate, the soybean chain has the capacity to respond and grow rapidly”highlighted the agribusiness entities.
In addition, they considered that the result of September “it must be taken into account by all the political parties to establish a permanent policy in favor of the chain”.
Foreign currency income for the month of September was impacted by the implementation of Decree 576/22 of September 5, which established a special exchange rate of $200 until September 30 for the purchase of soybeans, shipment records and payment of rights. from exportation.
The monthly income of foreign currency, converted into pesos, is the mechanism that allows us to continue buying grains from producers at the best possible price.
The liquidation of foreign currency is fundamentally related to the purchase of grains that will later be exported, either in its same state or as processed products, after an industrial transformation.
The oilseed-cereal complex, including biodiesel and its derivativescontributed 48% of total Argentine exports last year, according to INDEC data.
The country’s main export product is soybean meal (14.2% of the total), which is an industrialized by-product generated by this agro-industrial complex, which currently has a high idle capacity of close to 50%.
The second most exported product last year, according to INDEC, was corn (11%) and the third was soybean oil (6.9%).
Source: Ambito
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