Wheat exporters proposed to the government earlier this week to lower withholding taxes on soy – which is taxed at 33% – so that producers accelerate sales, but reportedly Rural trumpetthe Government rejected the proposal.

Despite the good prices that have occurred in recent months, with peaks exceeding the record of $ 651 in the Chicago market, producers are holding onto soy. Basically, it’s why the exchange rate gap which exists today in the country, and which in recent days has deepened with alternative dollars above 300 pesos.

According to the latest official data of July 6, producers eliminated 19.9 million tons of soybeans, 46% of the 43.8 million collected, compared to 24 million sold on the same date in 2021, which represented 57%.

“It is observed a very slow pace of soybean marketing and a significant decline in recent weeks, which has to do at least in part with macroeconomic volatility (exchange rate) “, indicated IERAL, of the Mediterranean Foundation in its latest report.

The work indicates that, from the sale of nearly 800,000 tons of soybeans per week in May, to 540,000 in the last 4 weeks of June and the first of July. a 32% contraction in volumes sold.

“Any measure taken to ensure liquidation must be a gestural and strong measure. It should be a substantial drop. But this must be established by the Minister of Economy (Silvina Batakis) and Miguel Pesce (BCRA),” he told Clarin Rural. Mattia LestaniSecretary of Agriculture, who participated in the cutting of the ribbon at the Rural Exposition of Palermo.

“The producer sells strategically. Normally, he saves the soybeans and sells them because he needs to buy heavy season supplies. Therefore, between the end of August and the beginning of September there will be a greater sale of cereals“, the official predicted.

Nicolás Pino, president of the Argentine Rural Society, noted that the exchange rate gap “reduces the competitiveness of Argentine producers, it is even more disastrous than export dutieswhich obviously, as we have said, are illegal at the moment in Argentina ”.

The projections for 2022 remain almost unchanged and reach 41,281 million US dollars, 161 million dollars less than the June estimate and 3,231 million dollars more than what was exported in the year ended.. The main export complex will once again be the soybean complex. Shipments are scheduled for $ 23,685 million.