Soybean producers liquidated so far little more than US$ 2,030 million within the framework of the third edition of the Export Increase Program, which contemplates a differential exchange rate for the value of the dollar to $300 for that sector.
This was stated in a report from the Grain Exchange of Buenos Aires, which detailed that the tons of soybeans traded through this Program are, up to now, 37% lower than the record of the previous editionwhich took place in December, and are 74% below the first, which took place in September 2022.
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In terms of currency settlement, based on data from the Open Electronic Market, US$ 111.34 million during last Fridayaccumulating a total of US$ 2,031 million since the reestablishment of the Program, in mid-April.
A priori, the Government had estimated that they would liquidate between $5 billion and $6 billion with the new edition of the Program, but so far the liquidated level is far from those amounts. The Grain Exchange explained that the traded tons of soybeans in terms of new contracts and fixations accumulate 3,108,940 tons.
The entity also pointed out that, throughout the previous round (on Friday, May 5) registered soybean operations reached 326,021 tons. Of that number, 215,031 tons corresponded to operations that were arranged that same day, while the remaining 110,090 tons correspond to those operations negotiated on Friday, but that were previously arranged.
Compared to Friday’s prices, contracts in pesos and dollars entered into on the same day averaged $100,968 per ton and US$377 per ton. When compared with past editions, soybean traded tons in terms of new contracts and fixings accumulate 3,108,940 tons, 74% and 37% below what was registered during the accumulated figures of September and December.
During September and December 2022, at the time of the past two editions of the so-called soybean dollar, sworn export declarations were registered for some 17.16 million tons of the 40.23 million issued during that year. With the new program, 396,992 tons were reported on Friday distributed in 63,901, 40,000 and 293,091 of soybean oil, soybeans and soybean by-products, respectively.
