The government ratifies that there will be no extension and the soybean dollar will expire on September 30th

The government has come out at the crossroads of versions circulating in the last few hours assuring that the soybean dollar would last until the end of October. “Just like we said from day one, the exchange rate regime adopted this month is transitional and will not be extended“Agriculture Secretary Juan José Bahillo tweeted this afternoon.

“We do not give false news that do not contribute anything to the work we are doing for the growth of the economy and of the productive sectors “, wrote the official, referring to versions in the press notes and on social networks regarding an alleged extension.

The soy dollar recognizes oilseed producers one dollar to $ 200instead of the $ 142 received from the rest of the exporters, and will be valid until September 30th.

With this benefit, the government plans to liquidate $ 5,000 million per month and that this contributes to strengthening the Central Bank’s reserves.

In the six rounds since the inception of the soybean dollar, it has already been achieved almost half of the dollars that the government has proposed. For Gustavo Idígoras, president of the Chamber of the Oil Industry and of the Grain Exporters Center (Ciara-CEC), this will be the “best month of September of the last 10 years” in terms of currency settlement.

In the first five days of operation, 4.6 million tons of soybeans were sold, resulting in the liquidation of $ 2.2 billion.

From the Borsa del Rosario they pointed out that the sales include new operations, weighing of pre-existing contracts and the setting of previous contracts “whose goods have been shipped previously, but whose price is then fixed at the value of the current month”.

“It seems good to us that the regime ends this month. An extension could lead to many problems in marketing and affect other agricultural supply chains such as corn “, the president of Ciara-CEC told the Télam agency.

The Federation of Grain Gatherers has instead sent a letter to the Minister of Economy, Sergio Massa, asking him to extend the regime.

“In this way, the offer can be channeled into volumes that are better distributed over time and thus ensure that sellers receive the price of a more representative market”, the letter reads.

On the other hand, and along the lines of CIARA, for the executive director of Syngenta, Antonio Aracre, the measure was “extremely positive”.

“In just one week it was practically liquidated 40% of the goal of the month with 2,200 million dollars of the 5,000 million dollars envisaged “, the executive remarked and indicated that the measure is an example that” with the right incentives, the right behaviors are generated “.

AQ