To encourage agricultural settlements, the BCRA has launched two fixed-term lines linked to the dollar and grain

After the central bank president warned him there are “delays” in the liquidation of agricultural exports, the body presented changes to the lines this Thursday fixed terms created for agriculture, linked to the evolution of the price of wheat and the dollar, and removed the limits to its renewal. The goal, they explained, is to encourage liquidations.

In its latest press releases, Miguel Pesce assured that, despite the historic record of soybean exports recorded last month, there are still 2.2 billion dollars to be liquidated. which would partly explain the monetary authority’s poor ability to buy foreign currency on the foreign exchange market. This Thursday it sold again $ 170 million, with which it accumulates a red of $ 500 million in June.

Pesce had already advanced: “We will look for mechanisms for producers to find a convenient way for them to liquidate their companies. They have to pay the costs of harvesting, planting, taxes, therefore those 2,500 million dollars will enter “-

Now, the board of directors of the body he chaired, in its weekly council meeting, has presented new conditions for these financial instruments, designed specifically for the agricultural sector. “Fixed-term farmers They can be made up of people and companies with agricultural activity and their performance is linked to the value of cereals or oil seeds and the price of the dollar. American, “he explained in a statement.

“The BCRA has ordered that the renewal of these term investments existing to date be allowed up to the amount to be collected at maturity without taking into account this limit in order to maintain the incentive to sell the harvest”, the note specifies. In parallel, it has increased the total amount of access to finance for exporting companies up to $ 15 trillion, in case these companies are in the country.

For now the only bank that will offer this type of product will be the Country, which had already announced its relaunch. It’s all about tools “tied to the dollar”, since, despite being made up in pesos, the interest rate on the invested capital will be calculated on the basis of the change in the dollar price from two working days prior to the tax date up to two working days prior to maturity.

“This financial instrument will deepen the advantages for agricultural investors, since – since the start of the operation – they have allocated 25.9 billion dollars. This savings instrument is an incentive for one of the main income-generating sectors in the country” Eduardo Hecker’s chaired entity said in a statement.

In the case of Nación, the capital to be invested is in pesos, linked to the dollar, and the placement period has a minimum of 60 days and a maximum of 370 days, for a minimum amount of $ 1,500 and a maximum amount of $ 500,000,000. , which cannot exceed twice the total sales of the keeper, in grains or oil seeds, recorded as of November 1, 2019.