The reopening of the Export Increase Program (PIE) begins to take effect on Monday, which establishes a differential exchange rate for the soybean complex of $230 per unit.
The program will be in force until December 31 and contemplates an update in the dollar price based on the evolution of inflation, taking as a reference the $200 that governed the first version implemented last September.
On Friday, when announcing the measure during a meeting with managers of the agro-industrial sector, the Minister of Economy, Sergio Massasaid that it responds to “the conviction that we have to achieve, by December 30, break the record of Argentine exports in what is the agro-industrial complex, understanding that Argentina is part of the food security agenda, like the debate and the fight for proteins at a global level is one of the great fights”.
Likewise, Massa affirmed that the measure will allow “strengthen reserves and generate a higher level of activity in the agricultural and agro-industrial sector”.
Along these lines, the Secretary of Agriculture and Livestock, Juan José Bahillo, highlighted then that “the Government’s agreement with the cereal companies has a guaranteed and signed floor of US$ 3,000 million” for settlement until next December 31 “, and assured that with what is obtained from the collection of export duties, “we will work on financing the promotion of regional economies; subsidies to the poultry, bovine, dairy and swine value chains to increase production; and a fund to maintain the value of family allowances.”
“We will work on financing promotion for regional economies; subsidies to the poultry, bovine, dairy and pork value chains to increase production; and a fund to maintain the value of family allowances”Juan Jose Bahillo
Based on data from the Undersecretary of Agricultural Markets of the Ministry of Agriculture, Livestock and Fisheries, as of last November 16, 31.9 million tons of soybeans from the 2021/2022 season had been marketed, and if one takes into account While the agricultural portfolio calculates the campaign’s production at 44 million tons, the remaining merchandise is around 12.1 million tons.
Meanwhile, the previous edition of the PIE, which took place during September, left a balance of almost 14 million tons of soybeans that were marketed, and a settlement that totaled US$ 8,125 million.
