More than US$3.600 million entered through soybeans / web
The grain export sector announced that within the framework of the validity of the soybean dollar 2, which was put into effect by the Minister of Economy Sergio Massa on November 28 and expiring on December 30, 5 million tons were purchased of soybeans and foreign currency income was US$3,654 million.
The soybean dollar 2, which was implemented by Decree 787/22, allows the soybean agroindustry to operate according to the special exchange rate conditions established in said regulation. In this sense, it was detailed that between November 28 and December 23, agricultural exports bought 5 million tons of soybeans, and they specified that “the producer price has risen to exceptionally high levels, allowing a substantial improvement in their income for those who decided to sell during the validity of this Decree”.
On the currency side, the amount entered in the aforementioned period was 3,654 million dollars, of which soybean income only reached 2,400 million dollars. It should also be mentioned that both the level of soybean sales by producers and the foreign exchange earnings compared to the soybean 1 dollar that was implemented last September, are lower because the stock held by producers is lower and On the other hand, the month of December has always been characterized as a month with few sales in the primary sector.
The new differential exchange rate measure for the soybean complex is carried out in the midst of a severe drought that is affecting the main crops in Argentina: soybeans, corn and wheat.
In the case of the oilseed, in the core zone and according to the Rosario Stock Exchange (BCR), there are 2.4 million hectares of the oilseed that went from regular to poor condition. Another example, in the Cañada de Gómez area of Santa Fe, they already warn that the situation of summer crops is going “from bad to catastrophic” and that “only a miracle will straighten this out.”
