During the week the Central Bank and other organizations will regulate the measure, so the regime will take a few days to come into operation.. Analysts anticipate a drop in the price of soybeans in international markets due to the possible flood of sales. There will be ARCA and BCRA controls every 15 days.
The Minister of Economy Luis Caputo announced on Thursday a temporary reduction in withholdings until June 30 for the main crops, with the condition that the exporter liquidates the foreign currency fifteen days after the Affidavit of Foreign Sale (DJVE) is made.
Immediately after the conference doubts began. In the export sector, they warned that the conditionality of settling within 15 days to access the benefit, while maintaining the possibility of settling within 30 but without the reduction of withholdings, It cannot be applied because the price on the board is only one.
“The wheat slate has a price that already discounts 12.5% of withholdings, but now it depends because if the exporter chooses the shortest term it would be 9.5%,” exemplified a businessman consulted by this medium and asked: “ What’s the price?”. Regarding the technical difficulty, he summarized: “The same product cannot have different prices, for the same quantity and at the same time.”
Reduction of withholdings: a “researched” decree
This was one of the main points that exporters took to the technical meeting on Friday with the Ministry of Economy teams. At that meeting, the Government anticipated that there will be a system of controls by the Central Bank and ARCA every 15 days. In the sector they considered that the regulations as proposed have too many restrictions and considered it “far-fetched.”
As confirmed to this medium by sources who participated in the meeting, The decree to lower withholdings would be published tomorrow. Although later, during the week, the Central Bank and other organizations must regulate its application.
“The regime will begin to operate a few days after the decree,” They anticipated Ámbito from the sector. So we should not expect a flood of sales in the first days of next week.
Soybean price drop?: the market takes the pulse
It is the year 2025, the news spreads fast and the world has already learned about the different versions of the soy dollar and its impact on the markets. The agricultural consultant Javier Preciado Patiño published in his X account a comment he received from an Italian trader who anticipated a drop in the price of soybeans due to the flood of sales expected for the first half of the year.
Something similar happened on previous occasions when a temporary benefit was granted. Therefore, at this time The main doubt in the sector is what will be the final impact of the measure. On Friday after Caputo’s announcement, parallel dollars collapsed, which simultaneously collapsed the export exchange rate.
If the price of soybeans goes down and the price of the dollar goes down as well, the final impact on the board will not be perceived as a 20% drop in withholdings. At the same time, Although at this time, for the countryside, any relief is welcome.
Source: Ambito
