It is that to extend the lack of precipitationthe Argentine economy could next year have a setback of up to US$10,000 million in foreign currency income compared to the current cycle. This would happen due to two key factors: the first is the possible drop in yields that will affect the harvest and the second is a possible bearish factor in the international market for the oilseed.
In this framework, from the Rosario Stock Exchange they explain: “When comparing the accumulated volume during the days of validity of each phase of the Export Increase Program, we find that the current commercialization volume is less dynamic in relation to the first edition of the Program. In this sense, in the first ten business days of PIE I, 7.56 million tons were operated, more than double what has been operated in PIE II. for the same period of time. However, it is important to emphasize that in September there was a significant slowdown in soybean marketing compared to the historical average, while currently it has returned to average levels and there is less soybean to be marketed by producers.”
Specifically with regard to foreign sales affidavits (DJVE), according to what was reported by the Secretary of Agriculture, since the beginning of the second instance of the program, f1.69 million tons of the soybean complex were declared, a volume three times lower compared to the 4.6 million tons registered in the first ten days of the first instance of the program. It should be noted that the distribution in the records of the complex is different in this second instance, with soybean by-products predominating and followed by oil.
This last point is key, because with the return of the withholding differential, the crushing industry is betting on reversing the trend that prevailed throughout this year in which more unprocessed grain was sent abroad to the detriment of those with higher added value, which In short, they generate a virtuous circle for the economy with greater foreign currency income and job creation, among other issues.
Source: Ambito
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