The Government published this Monday in the Official Gazette the regulation relating to the third Export Enhancement Program (PIE), better known as sour dollarwhich establishes a differential value of 300 dollars for the currency of those who sell products of the soybean complex and regional economies.
In the first case, the period envisaged for the operations will be until 31 May, while in the second they cannot exceed 31 August. Thus it was organized through the Decree 194/2023, which came into force since its officialization and which had the signatures of Alberto Fernández and all of his cabinet.
After the slow first quarter currency sell-off with this program they aim to raise about 9,000 million dollars: US$5,000 million from the soybean complex and another US$4,000 million from regional economies.
In the announcement made last week, Massa assured that the measures aim to “strengthen Argentina’s agro-export model and strengthen our reserves and our currency, so important in times of uncertainty and volatility at a global and local level”.
So far, producers have parted ways with just 4.8 million tons — the worst record in 20 years — of the 25 million tons that are expected to be harvested.
To access the advantage, exporters must meet several requirements, including exports in the last 180 days. Regional economies must participate in the official price program, maintain employment and guarantee volume and supply in this initiative.
At the same time, with the publication of Decree 193/2023, which bears the signature of the president, Agustín Rossi and Massa, they palliative measures for drought-affected producers.
“It is considered essential to act immediately to assist producers affected by the extreme climatic events that our area is suffering, making available to them all the tools and instruments of financial, fiscal and economic aid, facilitating their access and simplifying the administrative procedures that interested parties must make use of it”, reads the introduction.
The benefits include “the extension of the deadline for tax payments, the deduction from the Irpef tax balance of the benefits deriving from the sale of properties and the suspension of the start of tax executive proceedings”.
New agro dollar: what products are included
Annexes 1 and 2 of Legislative Decree 194/2023 list the products and items included:
- Live animals and products of the animal kingdom: live animals, meat and edible offal, fish and crustaceans, molluscs and other aquatic invertebrates, milk and dairy products; bird eggs; natural honey; edible products of animal origin, not elsewhere specified or included; other products of animal origin, not elsewhere specified or included.
- Products of the vegetable kingdom: live plants and floriculture products, vegetables, plants, roots and tubers for food use. edible fruits and nuts; Citrus (citrus) peels, melons or watermelons, coffee, tea, yerba mate and spices, grains, milling products; malt; starch and starch; inulin; wheat gluten, oilseeds and oily fruits; various seeds and fruits; industrial or medicinal plants; straw and fodder, gums, resins and other vegetable juices and extracts, plaiting materials and other products of vegetable origin, not elsewhere specified or included.
- animal or vegetable fats and oils; products of its cleavage; processed edible fats; waxes of animal or vegetable origin: preparations of meat, fish or crustaceans, molluscs or other aquatic invertebrates, sugar and sweets, cocoa and its preparations, preparations based on cereals, flour, starch or milk; baked goods, preparations of vegetables, fruit or other fruit or other parts of plants,
- Food industry products: various food preparations, drinks, alcoholic liquids and vinegars, residues and waste from the food industries; prepared animal feed, tobacco and manufactured tobacco substitutes.
- Chemical industry products: essential oils and resinoids; perfumery, toilet or cosmetic preparations, albuminoid substances; modified starch or starch products; tails; enzymes.
- Lumber, coal and wooden articlescork and articles of cork, articles of esparto or wicker.
- Textile materials and their products: silk, wool and fine or coarse hair; yarns and fabrics of horsehair, cotton.
ES/SN
Source: Clarin
