June record: despite the transport strike, agriculture has liquidated 3.815 million dollars

In June, just when dollar scarcity is the big issue of the moment for the national government, grain and oilseed export chains liquidated foreign exchange for 3,815,369,692 dollars, being the best month of June as monthly currency records are kept.

The amount paid from 2 January 2022 amounts to USD 19,144,962,182. This was indicated by the Chamber of Petroleum Industry of the Argentine Republic (CIARA) and the Cereal Exporters Center (CEC).

“The export of cereals has suffered from negative climatic effects on the dense harvest, as well as from roadblocks and demonstrations by auto-convened carriers that prevented the entry of thousands of trucks into the ports. delved into the idle capacity of the soybean crushing industry which continues to work with negative margins even in the middle of the campaign. In turn, delays in recovering export VAT are reducing the payment capacity of the export sector, “the industry said.

As they explained, the liquidation of foreign exchange is fundamentally related to the purchase of cereals which will then be exported, in the same state or as processed products, after an industrial transformation. Most foreign exchange earnings in this sector occur well in advance of export, which is around 30 days in the case of grain exports and up to 90 days in the case of protein oils and flours. . “This anticipation also depends on the weather of the campaign and the grain in question, so there are no delays in exchange rate settlement,” they said.

They added: “In this sector, statistical comparisons between different periods are generally imprecise or imprecise as exchange rate settlement is heavily influenced by the trade cycle of cereals, which depends on various and changing exogenous factors such as international price fluctuations, supply retraction, different volume and protein value of crops, climatic conditions, holidays, trade union force measures, regulatory changes, tariff and paratariff barriers from abroad, phytosanitary or quality requirements of other countries, etc.