Massa announced a dollar at 200 pesos for grain exports

The Minister of Economy, Sergio Massa, reported that “one dollar at 200 pesos will be paid for the settlement of grain exports, in a simple and transparent mechanism” During a press conference, the official explained that “from tomorrow until September 30 this voluntary currency settlement program is launched, in a simple and simple way for producers.” He also said that “the fiscal effort of the new export settlement system is around 600,000 million pesos” and added that “the agro-industrial sector is a key sector that has from the place of export a fundamental place that serves us to build value and synergy.” The minister explained that “93.8% is export and does not influence the local chain and soybeans have 33% withholdings and the account gives zero withholdings, when making the mathematical account.” He remarked that “from October it returns to the old system of export settlement,” while emphasizing that “the export sector came with a very aggressive proposal for the soybean complex for the month of September. We have an obligation to take care of export dollars.” Meanwhile, he estimated that “they could enter about 5,000 million dollars, during September, for the new soybean settlement scheme and 1,000 million dollars, in the first 72 hours.” Massa said that “starting tomorrow (Monday), the price of soybeans on slate will be 70,000 pesos per ton.” This new proposal began after the complaints of the Argentine Rural Society (SRA) for the lack of progress in the two meetings held by leaders and technicians of the entities of the Liaison Table with the Secretary of Agriculture, Juan José Bahilo.Also, last week, a two-month scheme that had been designed by the Central Bank expired, through which the producer who sold his grains could access an equivalent of 30% in dollars and 70% that had to be deposited in a special account adjustable by the official exchange rate. However, with that scheme only 50 operations were made. Due to the latter, the Ministry of Economy estimates to improve the profile of dollar liquidations of cereal companies and exporters in general.

Original source in Spanish