For campaigns, the government measure is insufficient and will not alter the pace of soybean sales

From the agricultural sector they have indicated that the financial instrument launched by the Central Bank to liquidate the soybean crop will not alter the rate of sale of the oilseed crop as what most affects the producer is the exchange rate differential.

The Board of Directors of the Central Bank today approved a new tool for agricultural producers who sell their soybean crop. In this case, producers will be able to make a sight deposit in financial institutions with variable daily remuneration based on the evolution of the A3500 exchange rate, known as the Link Dollar, up to 70% of the value of the grain sale.

One of the first to take up the challenge was the president of the Argentine Rural Society, Nicola Pino, which was very critical of the official standard. “The first thing I say is that It is a measure without consent and this is not good in any sector of the economy. It gives us the impression that this is another type of change that seems very difficult to implement. In the next few hours we will meet with colleagues from the entities to assess the situation, “she said.

“It’s a new exchange rate within the variety of exchange rates we have,” he added in Todo Noticias.

Carlos Achatoni, president of the Agrarian Federation, agreed that this is a complicated rule and said they are analyzing it. But it is very clear that what most affects the agricultural producer is the exchange rate gap and withholding taxes.

“The biggest attraction is 30% which can be converted into dollars for $ 240. The most favored will be the export sector,” assessed the ruralist.

Instead, the vice-president of the Argentine Rural Confederations, Gabriel of Raedemaeker, was more critical of the official resolution. “The government announcements to get producers to sell soy are designed for a financial speculation sector, not a manufacturing sector. They don’t understand anything or don’t even imagine what it means to produce, it’s such a bad picture,” he said.

According to the latest official data, up to the second week of July about 23 million tons of soybeans from the 2021/22 campaign remained to be marketed, for a value between 12,000 and 14,000 million dollars.

“This is highly unlikely to disrupt the soybean trade trend in any substantial way. The only advantage is the fact that for 30% of the sales value, the producer can acquire a dollar of savings, which today is between 220 and 230 “, said the chief economist of the Agricultural Development Foundation of Argentina. , David Miazo.

To which he added: “The producer holds the soy because it is a dollar-linked product. I guess the producer would rather have that dollar-linked product, which is a real product in their hands rather than having a bank deposit in a ‘. economy so volatile “.

Another one of what you don’t think is a useful tool is the agricultural producer Urban Helguera, of Laboulaye, Cordoba. “They think we’re going to sell at 85 pesos to buy $ 240 at $ 240. Also, the manufacturer doesn’t want dollars or dollar bonds. If we wanted them, those tools already exist on the market. The grains collected are used to cover expenses and to combine / exchange inputs. They don’t even understand how it produces in the field, “he said.

Argentine soybean farmers are the ones who less dollars obtained among the main producing countries from withholdings – which reach 33% – and from the exchange rate gap – above 150% -. A study by the agricultural producer from Córdoba and former Secretary of the Nation’s Value Added at the Ministry of Agro-industry, Néstor Roulet, showed that the Argentine producer charges only 144 US dollars for soybeans, while those from Uruguay receive 512 US dollars. (256% more), those from Brazil, US $ 510 (254% more); those of Paraguay, US $ 498 (245% more) and those of the United States, US $ 530 (268% more).