The Export Increase Program (PIE) could reach a foreign exchange liquidation of USD 9,000 million, according to an estimate by the Secretary of Agriculture, Livestock and Fisheries, Juan Jose Bahillo.
The official announced, in a press conference after the announcement of the measure by Economy Minister Sergio Massa, that there will be more than 30 productions from regional economies that will be able to enter the PIE, which establishes a differential exchange rate of $300 per dollar from April 8 to August 31.
According to Bahillo’s forecasts, the income of “around USD 5,000 million is expected from the soybean complex”, which will enjoy a differential exchange rate of $300 per dollar from April 10 to May 31. To which would be added “just over USD 4,000 million” from the regional economies, since an increase of between 25% and 30% in exports is expected due to this incentive.
“We hope to have a significant income. We understand that between the two axes that the decree has, there will be an important recomposition of the State income, an improvement in the dollars of the Central Bank and, also, the better collection will allow us to carry out more programs that serve producers in drought,” said the official from the Palacio de Hacienda.
However, he stated that “it is not easy to interpret the sale decision of thousands of producers and hundreds of grain companies; we understand that opening a window of greater value and more convenient will have an interesting sales volume.”
