Soybean dollar: Central Bank rule casts government meeting with liaison table into question

The government summoned the liaison table leaders for this Thursday to advance in concrete aid to small and medium-sized producers and regional economies after the implementation of the soybean dollar at 200 pesos. but a ruralist questioned the meeting from last Thursday’s central bank rule which makes credits more expensive for soybean producers who retain more than 5% of production.

It was the Argentine Rural Society that launched the scream into the sky. Your president, Nicola Pino, notified to the Secretary of Agriculture; Juan José Bahillo, when they coincided this Sunday in the exhibition of the Rural Society of Gualeguaychú, which before meeting had to give a solution to the norm of the Central Bank.

The rural had warned after hearing the resolution that “it is more interventionism in the markets, which causes more distortions. The rules must not be altered and must be fair, because in this way the functioning of the chain is complicated and altered “.

It should be noted that Bahillo himself had also criticized in the same hypothesis the measurement of the body led by Migues Pesce, considering it “not aligned” to encourage production.

With another of the ruralists that the national official met in the Entre Ríos Rural Expo was Jorge Chemes, president of the Argentine Rural Confederations, an entity that also doubts his participation because it will await the definition of the board of directors that meets this Wednesday.

Carlos Achetoni, president of the Agrarian Federation, was also very critical of the Central Bank’s decision. “It’s a ridiculous contradiction, a disastrous Central Bank mess,” he shot. That said, he told Clarín Rural that this Tuesday he will define the decision whether or not to participate in the government call.

For its part, Coninagro has the green light to meet the Undersecretary of Agriculture, and it was the same body that sent a request for an audience with Sergio Massa.

From the government they understand it the advantage of the soybean dollar did not reach the small producers because they had no more production for the market.

Dollar-bean soybeans

Bahillo highlighted the export increase program because it allowed “producers to receive an average price almost 40% higher than that received on 31 August, which is practically equivalent to a reduction in export duties to zero” which “motivated sales to accelerate.

“In just a week since (Economy) Minister Sergio Massa announced the export increase program, the data convincingly shows the success of the measures, which have reached an all-time high for soybean sales,” he said. Bahillo said today in a message on his Twitter account.

Furthermore, he claimed that “the measures provided a framework of predictability that allowed producers to agree on their sales by setting values ​​in the realized price mode”.

He added: “(The measures) allowed 4.6 million tons of soybeans to be marketed in one week, which translates into foreign exchange income for the country of over $ 2,000 million.”

request for extension

The Federation of Grain Gatherers has sent a letter to the Minister of Economy, Sergio Massa, asking for the immediate extension of the incentive for the sale of soybeans for export until 31 October 2022. “In this way the offer it can be conveyed towards volumes that are better distributed over time and thus guarantee sellers the price of a more representative market ”, reads the letter sent to Sergio Massa.