In addition, the income of foreign exchange from agro-exporters to the Single and Free Exchange Market (MULC) has already exceeded US$1,000 million, that is, a third of what was committed, in only six of the 23 rounds in which the soybean dollar
The measure was agreed with the main export complexes, which promised to liquidate soybeans and derivatives for at least US$3,000 million.
With the amount settled in a quarter of the period in which the soybean dollar will be open, it is possible that, as in the first edition, the committed figure will be widely exceeded.
In the first edition, held last September, agro-exporters committed to liquidate US$5,000 million, and ended up generating sales of US$8,125 million, that is, 71% more.
Indeed, the agro-exporters entered the local exchange market yesterday with US$133 million, and thus totaled US$1,088.5 million in the first six days.
Of this total, the Central Bank absorbed little more than half to swell the monetary reserves. Thus, the BCRA closed the day on Monday with purchases for US$74 million, and accumulated US$531 million in six rounds.
In addition, with the passing of the wheels, the producer price improved substantially, going from $84,000 to $86,500, that is, an increase of 3% in one week, compared to the 23.5% increase that occurred almost immediately. when the program started.
A) Yes, in a few days a ton of soybeans went from $68,000 to $86,500, with an improvement for the producer of 27.2%.
In the same way, the value of the oilseed ton in dollars went from being paid US$375 to US$405, with an increase of 8% in one week.
According to figures from the Buenos Aires Grain Exchange, 262,152 tons of soybeans were sold yesterday, bringing the total to 2,106,327 since Monday, November 28.
At this rate, producers could reach almost all of the 10 million tons that are estimated to still be kept in silos.
The new purchase and sale contracts concluded in pesos on Monday and on previous dates but recorded yesterday totaled 154,291 tons together, and the average value of these deals was $86,457 per unit of weight.
Agricultural exporters may declare future soybean sales
On the other hand, the fixings of operations agreed before Monday for 52,698 tons were also highlighted, reaching an average value of $86,390.
In relation to the deals agreed in dollars, the soybean purchase and sale contracts registered an average value of US$404.69 for a volume of 8,401 tons; while fixings were recorded for 3,076 tons at an average value of US$374.
So far this year, the settlement of foreign currency resulting from exports of cereals and oilseeds reached US$ 36,731.5 million between January and November, which meant an increase of 22% compared to the same period in 2021, and the maximum historical level reached by the sector, according to figures from the Chamber of the Oil Industry of the Argentine Republic (CIARA) and the Center for Grain Exporters (CEC). Based on these data, it is very likely that in all of 2022 more than US$40,000 million will be settled.
Source: Ambito
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