Despite the commitment shown by the agro-exporters, who until yesterday sold almost 9 million tons of soybeans —in a commitment with the Government to reach the reserves required by the International Monetary Fund (IMF)—, ordered a new measure that took him by surprise: a stocks for soybeans.
Who will this affect? stocks? The measure will affect those who joined the Export Increase Program, implemented on September 5, through the single measure known as the “soybean dollar.” This special exchange system allows to exchange the exports of this cereal until the last day of this month at 200 dollars and without tax charges.
Source: (Public Television News)
It was the task of the Central Bank of the Argentine Republic (BCRA) to have this stocks for soybeans, a ban that has been widely criticized from social networks —sectors of the population and the field speak of the soybean dollar as a “patch” measure and assure that this BCRA measure only generates mistrust—. The measure provides that they will not be able to access the official exchange market, but neither will the Stock Exchange dollar or the MEP or CCL.
The BCRA gave the following title to the statement: “Agents who entered the Export Increase Program will not be able to access the foreign exchange market.” The body of the note reads: “Economic agents that have sold soybeans under the Export Increase Program will not be able to access the foreign exchange market for purchases of foreign currency nor carry out operations with titles and securities with settlement in foreign currency.”
When will this measure take effect? The statement dictates: “The Board of Directors of the Central Bank of the Argentine Republic established that this provision will be effective as of September 20, 2022.”
This measure Its context is a dollar that has exceeded maximums, of which there is memory, in the months of July and August; historical events that put the population in a situation of uncertainty that has not been seen in years. The measure of the soybean dollar came as an option for all the people who are dedicated to grains, and it was “voluntary adherence”.
Source: (Radio Mitre)
And it is that the grain went from 53 thousand per ton to more than 70 thousand, which represented profits of 32%, since it did not have tax burdens.