The foreign exchange settlement of the agro-export companies for external sales of soybeans and their derivatives already exceeded US$ 1,200 million in the first seven days of the Export Increase Program, with which a third of the US$ 3,000 million committed by the sector was reached.
In this frame, soybean producers marketed more than 260,000 tons and thus they exceeded 2.10 million in six days since the Export Increase Program was reopened on November 28, which implements an exchange rate of $230 per dollar for oilseed exports until next December 31.
In addition, the income of foreign exchange from agro-exporters to the Single and Free Exchange Market (MULC) has already exceeded US$ 1,200 million, that is, 40% of the commitment, in only seven of the 23 wheels in which the soybean dollar will operate. The measure was agreed upon with the main export complexes, which agreed to liquidate soybeans and derivatives for at least US$3 billion.
With the amount settled in a quarter of the period in which the soybean dollar will be open, it is possible that, as in the first edition, the committed figure will be widely exceeded.
In the first edition, held last September, agro-exporters committed to liquidate US$5,000 million, and ended up generating sales of US$8,125 million, that is, 71% more.
Indeed, the agro-exporters entered the local exchange market US$ 114 million on Tuesday, and thus they totaled US$ 1,202.5 million in the first seven days. Of this total, the Central Bank absorbed just over half to swell the monetary reserves.
A) Yes, the BCRA closed the day with purchases for US$91 million, and accumulated US$622 million in seven rounds.
In addition, with the passing of the wheels, the producer price improved substantially, going from $84,000 to $86,500, that is, an increase of 3% in one week, over the increase of 23.5% that occurred almost immediately when the Program was started. In a few days, a ton of soybeans went from $68,000 to $86,500, with an improvement for the producer of 27.2%.
In the same way, the value of the oilseed ton in dollars went from paying US$ 375 to US$ 405with an increase of 8% in one week.
According to figures from the Buenos Aires Grain Exchange, 262,152 tons of soybeans were sold on Monday, bringing the total to 2,106,327 since Monday, November 28.
At this rate, producers could reach almost all of the 10 million tons that are estimated to still be kept in silos.
The new purchase and sale contracts entered into in pesos on Monday and on previous dates but noted yesterday totaled 154,291 tons, yehe average value of these businesses was $86,457 per unit of weight.
On the other hand, the fixings of operations arranged before Monday for 52,698 tons were also highlighted, reaching an average value of $86,390.
In relation to the deals agreed in dollars, the soybean purchase and sale contracts registered an average value of US$ 404.69 for a volume of 8,401 tons; while fixings were recorded for 3,076 tons at an average value of US$ 374.
So far this year, the liquidation of foreign exchange product of the exports of cereals and oilseeds reached US$ 36,731.5 million between January and Novemberwhich meant an increase of 22% compared to the same period in 2021, and the highest historical level reached by the sector, according to figures from the Chamber of the Oil Industry of the Argentine Republic (CIARA) and the Center for Exporters of Cereals (CEC).
Based on these data, it is very likely that in all of 2022 more than US$ 40,000 million will be liquidated.
