The recent measure of Government Argentine to temporarily reduce retentions to agricultural exports has generated intense debate and expectations in the agricultural sector.
This strategy of Governmentannounced on January 26, 2025 and published in the Official Gazette on January 27, seeks to advance dollars to the Central Bank and strengthen international reserves. But what is behind this measure and what are its implications?
The decline in retentions is framed in a context of urgent need for foreign exchange to stabilize the economy and fulfill international commitments. He Government He has decided to temporarily reduce retentions for grains such as soybeans, wheat and corn, hoping to accelerate currency settlement and improve the fiscal situation.
This measure is valid until June 30, 2025. The reduction of withholdings has been well received by agricultural producers, who see to this extent an opportunity to improve their gain margins.
For example, the soybean aliquot was reduced from 33% to 26%, and for their derivatives from 31% to 24.5%. This reduction translates into an increase of approximately $ 26 per ton for soybeans and $ 6 for cereals.
Although the measure promises immediate benefits, it also presents challenges. Exporters must liquidate at least 95% of currencies within 15 days from the presentation of the Affidavit of Sales abroad (DJVE).
Reduction
If they do not meet this period, they will lose the benefit of tariffs. This demand implies a strong financial support and can be difficult to meet for some producers. From the fiscal point of view, the reduction of retentions can generate immediate relief, but it could also result in a loss of tax revenues in the medium and long term.
He Government It seeks to complement this measure with additional policies, such as impulses to economic activity and agreements with the International Monetary Fund (IMF). The transitory decline of retentions is a strategic measure of the Argentine government to face the urgent need for currencies and improve the fiscal situation.
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