The agricultural dollar is the government’s big bet to accumulate central bank reserves. But, for now, there is caution in companies from regional economies to enter the official program.
Since it became official, regional economies have been added to the special regime. In total, there are 727 nomenclators.
The measure includes viticulture, olive growing, beekeeping, fishing, forestry, wool, as well as the production of legumes, garlic, tea, peanuts, tobacco, lemon, fruit – such as cherries, plums and blueberries – and specials intended almost exclusively for the foreign market, such as popcorn, confectionary sunflower and ecological, organic or biological products, duly certified and authorized by the competent body.
Later apple, pear, orange, mandarin, grapefruit, rice, kiwi, onion, essential oils, quinoa, flax, coriander, oregano, peppers for paprika, chamomile and trees, shrubs and bushes, fruit and other sectors were added. edible fruits, whether or not grafted.
With Resolution 466/2023, the Ministry of Commerce established guidelines for signatures to be enteredNO. But despite the fact that the rule became official last Monday, companies were only able to start registering today.
In this sense, and although the program is extended by 5 months, until August 31st, they ensure that in many companies They don’t give time to close trades for this better exchange rate to come inbecause in several regional economies it takes more than 90 days to prepare for export.
Also, another of the points that makes noise for companies is the staggered increase to be applied to products sold on the internal market from April to August. Depending on the percentage of turnover that the company exports, the increases vary from 3.5% to 1% per month.
“The newspaper doesn’t help either. With the gap widening by the day and with inflation high, it’s not known if the 300-peso fixed rate will work for them,” said an industry source. clarion.
Even in the case of the soy dollar, it’s not gaining momentum. 1.26 million tons of beans have been traded since the soybean 3 dollar went into effect. In the first ten business days of soybean 1 and 2 dollars, 7.4 million tons and 2.8 million were traded, respectively tons of soybeans.
It is mostly due the price offered by the industry which does not seduce the producers to sell, in a context of the lowest harvest of the last 23 years. Today it was trading in Rosario at 100,000 dollars a ton.
As indicated by the Chamber of Petroleum Industry of the Argentine Republic (Ciara) and the Cereal Export Center (CEC), the exporting companies liquidated a total of 208 million dollars this Monday, and almost half – 105 million dollars – corresponds to the soy dollar. In total, to date, agro-exporters have cleared $2,108 million in April and, under the official program, $1,360 million.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.