The Central Bank announced a differential dollar for the field

The Board of Directors of the Central Bank of the Argentine Republic approved a new instrument for agricultural producers who sell their soybean harvest. It is a special quote to encourage the liquidation that would represent a real improvement of 10% in the exchange rate they receive for their grains.

The special regime for grain liquidation, official sources specified, seeks to “recognize the foreign currency value of the asset (soy in this case)” while also trying to “remove the uncertainty regarding a devaluation”.

For the BCRA it means the possibility of anticipate foreign exchange income to the economy with a neutral economic balance, since it manages the value of the A3500 dollar in which the deposits can be constituted.

In this case, producers will be allowed to carry out a Deposit at sight in financial entities with variable daily remuneration based on the evolution of the A3500 exchange rate, known as dollar linkfor up to 70% of the value of grain sales.

In addition, for the remaining 30%, the Formation of Foreign Assets will be allowed, at the value of the official dollar. plus COUNTRY tax and the withholdings on account received by the AFIP.

According to the entity headed by Miguel Ángel Pesce, “this BCRA decision seeks to balance agricultural producers with the benefits available to the different productive sectors.”

And he listed “among them”, “the free availability of foreign exchange due to the increase in exports made with respect to the previous year that applies to the manufacturing industry; the Regime for the Promotion of Investment for Exports or the regime for the Knowledge industry that allows to apply part of the increase in exports to the payment of the wage bill”.

In the case of the regime for the sale of the soybean crop, it will be available until next August 31.

Meanwhile, it was specified that, during this period, producers will be able to acquire freely available foreign currency for 30% of the funds obtained from the sale of grains destined for export and convert 70% into a freely available deposit with variable remuneration in function of the evolution of the official exchange rate.

In the past week had transcended that the Government was evaluating offering the countryside a “soybean dollar”, higher than the official one, pressured by the low reserves and the exchange rate run.

The lack of dollars in the coffers of the Central Bank and the exchange rate run that led the blue dollar to touch 340 pesos activated the search for solutions to achieve the field decides to liquidate more foreign currency.

The reserves of the Central Bank are at very low levels and the agricultural producers have stored soybean grains that, at international value, represent no less than 10,000 million dollars.

This Monday, within the framework of the reopening of hotel number 6 of the 9 of the Chapadmalal tourist complex, Alberto Fernández accused the field of seeking “speculate with a devaluation.”

“We managed to get up, we grew up, we have difficulties and some continue to speculate on a devaluation to sell what they have to sell to bring in the dollars that allow Argentina to continue producing, continue providing jobs and continue growing,” said the president.

And he added: “In very difficult times, where we fight against those who continue to believe that distribution should not be done in an egalitarian way, those who continue to promote individualism, those who they still believe in meritocracythose who keep saying ‘this is my chance to win and I have the right to win what I want even if the rest suffer’.

The President’s words were a reissue of similar statements he has made in recent days. Is reissue of the fight with the field led the K picketers to call for a mobilization for next Saturday at La Rural, when the official inauguration of the agricultural and livestock exhibition takes place.

The full statement from the Central Bank

The Board of Directors of the Central Bank of the Argentine Republic today approved a new instrument for agricultural producers who sell their soybean harvest, in line with the benefits received by the manufacturing, energy and knowledge industries that increase their exports.

In this case, producers will be allowed to make a demand deposit in financial entities with variable daily remuneration based on the evolution of the A3500 exchange rate, known as the Link Dollar, for up to 70% of the value of the sale of grain.

In addition, for the remaining 30%, the Formation of External Assets will be allowed, at the value of the official dollar plus the PAIS tax and the withholdings on account received by the AFIP.

This decision of the BCRA seeks to balance agricultural producers with the benefits available to the different productive sectors, among them, the free availability of foreign currency due to the increase in exports made with respect to the previous year that applies to the manufacturing industry; the Regime for the Promotion of Investment for Exports or the regime for the Knowledge industry that allows applying part of the increase in exports to the payment of the wage bill.

In the case of the regime for the sale of the soybean crop, it will be available until August 31. During this period, producers will be able to acquire freely available foreign currency for 30% of the funds obtained from the sale of grains destined for export and convert 70% into a freely available deposit with variable remuneration based on the evolution of the type of official change.

DS​

Leave a Comment