Foreign currency settlement by the agro-export sector reached US$1.6 billion since the Export Increase Plan II (PIE II) came into force, and thus exceeded half of the US$3 billion promised to enter by the cereal companies up to 31 from December.
This was indicated to Télam by the president of the Chamber of the Oil Industry and the Center for Grain Exporters (Ciara-CEC), Gustavo Idígoras.
Of that total liquidated, the Central Bank (BCRA) was able to obtain US$ 693 million in the first eight wheels that the so-called “soybean dollar 2” has been active, promoted by the Ministry of Economy, which establishes a differential exchange rate of $ 230 per dollar for the soybean complex.
The dynamics of sales remained in line with the first days of this new edition of this special regime, with a turnover that oscillated between 250,000 and 400,000 tons, when the daily average of the days prior to the entry into force of the measure it was between 60,000 and 70,000 tons.
In the last three business days of the week, 830,283 tons of soybeans were traded, so the accumulated value since November 28 was 2,697,403 tons, a value that, although higher than in previous months , is comfortably below the 6,456,288 tons traded in the same number of days of the first plan launched in September.
Of that total liquidated, the Central Bank (BCRA) was able to obtain US$ 693 million in the first eight wheels that the so-called “soybean dollar 2” has been active, promoted by the Ministry of Economy.
In dialogue with Télam, Idígoras indicated that “This edition naturally has fewer effects than the first, due to the fact that we started with a stock of 23 million tons and today we are at a volume that the Government considers to be 12 million, but the market calculates it to be 9 million tons. “for which he remarked that “the flow of sales is lower.”
However, the president of the entity noted that, although “the flow is holding a low curve in terms of producer sales, it is better in relation to October and November.”
“For us the expectations are good, but we will have to see if it is enough for the Government”maintained the owner of Ciara and CEC.
According to data provided by the Rosario Stock Exchange (BCR), of the total 2.7 million tons already marketed, 1.7 million correspond to new merchandise contracts, while 950,000 tons were price fixings for grains that have already been sold. sold.
Prices
Regarding prices, the week ended with a peak for merchandise with delivery until December 27 of $92,000 a ton on the Rosario Stock Exchange (BCR), which implied a rise of $10,000 from the first price displayed. on Monday, November 28 and almost $25,000 above the median values for much of November.
The new PIE, in a record context
The new PIE occurs in a context where, although the liquidation of foreign currency by the export sector of grains and derivatives reached a historical record of US$ 36,713.5 million in the accumulated year, October and November, months that followed the first edition of the “soybean dollar”, they were skinny in terms of the income of dollars.
In fact, last month, Ciara and CEC reported that companies in the sector liquidated US$1,697 million, 17% less than the same month of the previous year, but 14% higher than last October, when they entered US$1,217.3 millions.
In last September’s edition of the differential dollar, soybean trade reached 14 million tons and foreign exchange settlement reached US$ 8,125 million, an unprecedented amount in the history of the sector and that helped to consolidate the accumulated record between January and November of this year.
