This was indicated to Télam by the president of the Chamber of the Oil Industry and the Center for Cereal Exporters (Ciara-CEC), Gustavo Idigoras.
Of that total liquidated, the Central Bank (BCRA) was able to obtain US$693 million in the first eight wheels that the so-called “soybean dollar II” promoted by the Ministry of Economy, which establishes a differential exchange rate of $230 per dollar for the soybean complex.
The dynamics of sales remained in line with the first days of this new edition of this special regime, with a turnover that oscillated between 250,000 and 400,000 tons, when the daily average of the days prior to the entry into force of the measure it was between 60,000 and 70,000 tons.
In the last three business days of the week, 830,283 tons of soybeans were traded, so the accumulated value since November 28 was 2,697,403 tons, a value that, although higher than in previous months , is comfortably below the 6,456,288 tons traded in the same number of days of the first plan launched in September.
In dialogue with Télam, Idígoras indicated that “this edition naturally has fewer effects than the first, due to the fact that we started with a stock of 23 million tons and today we are at a volume that the Government considers to be 12 million, but that the market calculates it at 9 million tons”, for which he remarked that “the flow of sales is less”.
However, the president of the entity noted that, although “the flow is holding a low curve in terms of producer sales, it is better in relation to October and November.”
“For us the expectations are good, but we will have to see if it is enough for the Government,” held the head of Ciara and CEC.
According to data provided by the Rosario Stock Exchange (BCR), of the total number of 2.7 million tons already sold, 1.7 million correspond to new merchandise contracts, while 950,000 tons were price fixings for grains that have already been sold.
Regarding prices, the week ended with a peak for merchandise with delivery until December 27, $92,000 a ton on the Rosario Stock Exchange (BCR), which implied a rise of $10,000 from the first price posted on Monday, November 28, and nearly $25,000 above median values for much of November.
The new PIE occurs in a context where, although the settlement of foreign currency by the export sector of grains and derivatives reached a historical record of US$36,713.5 millionOctober and November, the months that followed the first edition of the “soybean dollar”, were weak in terms of the income of dollars.
In fact, over the past month, Ciara and CEC have reported that companies in the sector have liquidated u$s1,697 million17% less than the same month of the previous year, but 14% higher than last October, when they entered US$1,217.3 million.
In last September’s edition of the differential dollar, the sale of soybeans reached 14 million tons and the settlement of foreign exchange u$s8.125 millionan unprecedented sum in the history of the sector and which helped to consolidate the accumulated record between January and November of this year.
By Juan Manuel Colombo for Telam.
Source: Ambito
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