Despite the fact that, since March, the Government announced the creation of a wheat trust to guarantee internal supply and ensure fair prices to consumers, until now, this had not been launched.
Therefore, the Secretary of Domestic Trade, Roberto Feletti, held a meeting with the milling companies to set the details of The initiativesince the Government assures that the conditions for the operation of the wheat trust.
In this sense, the wheat trust will serve to regularize the prices of flour type 000, 0000, tapera and semolina, which they will have an identifying stamp that will say “product subsidized by the national government”.
However, the Government indicated that it will be very rigorous with the milling companies so that a reference price for flour is set that is accessible to consumers, in order to guarantee the basic food basket.
This, given that the conflict between Russia and Ukraine triggered international prices, which affected the local market, especially bakeries and the food industry.
It should be remembered that the financing of this trust is made through the collection of the differential of 2% of the DEX (Export Rights) of soybean meal and oil.
These represent approximately between US$370 and US$400 million and the total will be provided by the export sector, meaning that the measure will cover 11 soybean by-product exporting companies.
With that, “The subsidized prices of bread and flour derivatives such as noodles and cookies, among others, will reach the final consumer within a few days”as reported by the Ministry of Internal Trade.
How flour prices will be with the wheat trust
The strategy The Government that will be reflected in the coming days in the gondolas throughout the country establishes the following reference prices for type 000 and 0000 flour:
- 000 common flour of 25kg: $1200
- 0000 common flour of 25kg: $1440
- 000 quality 24/26 gluten flour will have the base value of 000 flour plus 10%.
- Flour 000 quality 26/28 gluten will have the base value 000 plus 20%
- 000 quality flour with more than 28 gluten will have the base value of 000 plus 30%.
