Tuesday, March 28, 2023

He created the “soybean dollar” so that the farm would destroy the crop

The Central Bank of the Republic of Argentina (BCRA) approved a new instrument for agricultural producers to sell their soybean crop, commensurate with the benefits derived by the manufacturing, energy and knowledge industries that increase their exports.

The government is confident that with this measure, it will ensure that the sector liquidates at least part of some $20,000 million, which it will hold on to in the event of exchange noise, amid a steady decline in reserves.

In this case, the BCRA pointed out that the producers were required to pay a . will be allowed to “Demand deposits in financial institutions with variable daily remuneration based on the development of the A3500 exchange rate known as the ‘dollar link’ for up to 70% of the sale value of grain”.

In addition, for The remaining 30%, “creation of foreign assets, on official dollar value and withholding on account received by PAIS tax and AFIP”, will be allowed.

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The Center said it seeks to “balance agricultural producers with the benefits available to different growing sectors.”

Among others, he highlighted “free availability of foreign exchange on account of the increase in exports made over the previous year, which is applicable to the manufacturing industry.”

Also “Government to promote investment for exports or Governance for the knowledge industry, which allows the application of part of the increase in exports for payment of wage bills.”

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BCRA indicated that in case of arrangement for sale of soybean crop, it would be available till next 31 August.

During this period, producers will be able to obtain freely available foreign exchange for 30 per cent of the proceeds from the sale of grain destined for export and 70 per cent freely with variable remuneration depending on the evolution of the official exchange rate. convert into available deposits. ,

He Created The &Quot;Soybean Dollar&Quot; So That The Farm Would Destroy The Crop

Nation World News Desk
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