The liquidation of the agro -exporters fell more than 30% In the last week in the face of uncertainty about the future of exchange policy. According to high sources from the sector to scope, “From about US $120 million, it was reduced to about US $ 80 million”. Exporters say this occurs because the sale of grains from soy and corn producers is “virtually paralyzed”, waiting for definitions with respect to dollar. Companies begin to cancel obligations abroad, with much at stake, and The field analyzes its strategy for the thick harvest.
In the last week everything was disrupted. The Central Bank sold more than US $ 1 billion in the change marketfuture dollar positions and financial quotes were overheated, they were uploaded until they touched the $ 1,300 barrier. Volatility hit the agribusiness operation: “Whenever there is uncertainty sales are paralyzed,” An exporter explained to this medium.
The data they put on the table talk about a phenomenal setback in the commercialization of soybeans and corn: From 200,000 tons daily to less than 30,000 tons per day. “Until it is stabilized, it is most likely to see less movement,” said a specialized consultant.
The “Carry Trade” that was armed between the exchange tab and the interest rates in pesos, plus the temporary reduction of retentions, led to that some US $120 million are liquidated in the first bimester, one of the highest marks at the historical level. But The parate on sales also brought a brake on currency settlements that fell to US $ 80 million.
Agro dollar settlement: doubts in the thick harvest
The thick harvest and the actors in the agricultural sector must make decisions without having certainty of what will happen with the exchange scheme in the short term. Unification, discreet jump, dollar blend, “crawl” at 1%, are all speculation, whose confirmation does not even depend exclusively on what the economic team decides, but will have to pass a filter through the IMF directory.
In the export sector they believe that the matter can be delayed: “It will be complicated that producers want to sell against exchange uncertainty that the government itself announces by the agreement with the IMF ”, A businessman said.
At the same time, about the sector Weigh the experience last yearwhen also because of Javier Milei’s promise of an exchange unification, many opted for a devaluation and ended up registering great losses. “If it happens to you for the second consecutive year you melt,” said a producer.
In fact, great agrochemical producing firms, such as Grooves and the Grobo They ended up in call for bad financial management and the fall of almost 30% in the billing that the item recorded. This time will be different?
To cancel credits
For now, The market puts a 1% “crawling peg” exit. That expectation disarmed the “Carry Trade”. That is, it generated that the demand for importers accelerates and that the supply of exporters in general is contracted, not only that of agribusiness.
That’s all? No, there is another effect. The Dollar credits They worked as the main tool to accumulate reservations begin to be canceled. Back, if the “1%crawling” is over, it could cease to be so interesting to borrow in foreign currency to make rate in pesos. “All companies take their collections,” said the source consulted about the phenomenon.
Source: Ambito
