Soybean dollar: the Government clarified that agricultural producers will be able to access the foreign exchange market

The national government clarified that agricultural producers are not included in the Central Bank standard that prevents access to exchange market for those who have benefited from the soybean dollar.

The explanation was made by the Secretary of Agriculture, John Joseph Bahillo through a message on Twitter, which in turn was replicated by the head of the Palacio de Hacienda, Serge Massa.

“I want to clarify that the resolution of @BancoCentral_AR does not include producers and the producers that with so much effort have been accompanying the Export Increase Program”, published the person in charge of the agricultural portfolio.

What follows from this statement is that not individuals but companies who sold soybeans under the Export Increase Program those that were banned for the purchase of foreign currency.

The official’s explanation was aimed at dispel doubts and complaints arisen after the Central Bank ordered a new measure yesterday to protect reserves.

The Communication “A” 7609 of that entity reported that, from September 20they will not be able to buy dollars “clients residing in the country dedicated to agricultural activity who sell merchandise within the framework of Decree No. 576/22”, which established the Export Increase Program.

Then, in a press release, the monetary authority specified that “economic agents who have sold soybeans under the Export Increase Program will not be able to access the foreign exchange market for purchases of foreign currency nor carry out operations with titles and securities with settlement in foreign currency”.

Since the beginning of the month, the monetary authority has already acquired around 2,350 million dollars from the sale of soybeans by producers who have already accumulated almost 9 million tons in ten days.

The Export Increase Program it was agreed with the main exporting complexes that undertook to liquidate soybeans and derivatives for at least 5,000 million dollars during the current month.

Source: Pagina12

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Varun Kumar

Varun Kumar is a freelance writer working on news website. He contributes to Our Blog and more. Wise also works in higher ed sustainability and previously in stream restoration. He loves running, trees and hanging out with her family.

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