Thus, what the Secretary of Agriculture, Juan José Bahillo, said this morning, was fulfilled, that the PIE will raise the price per ton to around 80,000 for the producer and will allow a collection of around US$ 3,000 million in the course of December.
“The price has to have an increase, it has to be close to $80,000 a ton when today it is around $65,000 or $66,000,” Bahillo told Radio Provincia, while saying that “this will allow the Government raise gross booking revenue of about $3 billion over the course of the month.”
With this measure, announced last Friday by Minister Massa, the Government hopes to receive at least US$3 billion from the sector until the end of the year. That was the commitment that he signed with the soybean processing industry, but the truth is that the expectation is that some US$5,000 million will enter, which will be key to increasing the BCRA reserves and keeping the local exchange market at bay. .
Within the package of measures that Massa agreed with the exporters, the return of the differential in withholdings for producers of the soybean complex with added value, that is, oil and flour, stands out. Currently they pay 33% the same as beans, but they will pay 31% again. Months ago the Government had decided to increase withholdings on soybean derivatives and that money was allocated to the compensating fund for the price of wheat in the domestic market. A measure that in practice achieved a limited scope and that ultimately ended up discouraging the industrialization of the oilseed.
The increase in withholdings on by-products was valid, as established in the compensating fund for the price of wheat, until December 31. The Government then brought forward the return of the differential by a month to the approval of the industry, which in turn promised to settle at least some US$3,000 million in the local exchange market that will begin to be felt as of today. It is that so far in November the sector had entered less than US$1,000 million with an average daily settlement of just US$50 million. That is the story that the economic team seeks to change.
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.
