The president of the Chamber of the Oil Industry of the Argentine Republic and the Cereal Exporters Center (CIARA-CEC), Gustavo Idigorasconsidered this Sunday that “we see this new condition as a significant improvement which, even if temporary, will have a direct impact on the price of soybeans in the domestic market”, referring to the measures announced by the Minister of the Economy, Sergio Massa.
In a statement, Idígoras stressed that “this has emerged from the consultation process that the Government opened for weeks with the producer entities and the other links in the chain.”
Idígoras emphasized that “the decision to sell soybeans is always in the hands of the producer, and he will be the one who decides when to sell, understanding that this time the exchange rate will only last until the end of the month.”
Massa announced that he will pay “one dollar to 200 pesos for the settlement of grain exports, in a simple and transparent mechanism”
In a press conference, the minister stated that “since tomorrow (for Monday) until September 30 this program is launched of voluntary foreign exchange liquidation, in a simple and easy way for the producers”.
Idigoras stated that “the estimated flow of foreign currency income for the entire cereal-oilseed complex during the month of September would be 5 billion dollars,” At the same time, he stressed that “an agenda of technical issues was agreed with the Government to work on during the month of September.” “The issues agreed are related to credit, tax, commercial and health issues, aimed at facilitating exports from the country’s main export complex,” Idígoras pointed out.
Finally, the president of CIARA-CEC indicated that “this temporary measure shows that the government must work on a public policy that permanently reduces the high tax burden of the soybean chain.”
