In the midst of the reserve crisis, Economy Minister Sergio Massa will announce this Wednesday a new agricultural dollar so that producers have access to a differential exchange rate.
While the formal announcement is awaited, the Palacio de Hacienda released details of the Export Increase Program, which already generated criticism in the field even before its announcement.
The soybean dollar would be around $300
.
The purpose of the measure is for the State to obtain the dollars it needs to strengthen the reserves of the Central Bank (BCRA).
This is the road map of the plan that Sergio Massa will announce this afternoon.
The act will be in the Belgrano Hall of the Palacio de Hacienda.
1.
Export increase program
In order to capture some US$ 4,000 million, they launch an agreement with the cereal companies to establish a guaranteed minimum settlement for
a period that will not exceed 45 days
.
The period runs
from April 8 to May 24.
Regarding the new soybean dollar, a differential exchange rate will be announced that they estimate will be around $300 per dollar.
The goal is to capture 7 million tons from last season, and as much grain as possible from the new cycle.
2.
Agreement with regional economies
In this case, producers have to meet the "eligibility" conditions.
based on criteria given by the Ministry of Economy.
Those who enter must respect certain criteria, because they are economies that generate employment:
today there are 380,000 jobs in that sector.
The term, for this sector, will be
from April 8 to Friday, July 7.
It is also a "temporary window" that opens and closes.
In turn, the regional economies have to meet the eligibility conditions based on criteria of the Ministry of Economy.
The conditions are the following:
Participation in Fair Prices
, supply and guaranteed price.
The company that does not enter Fair Prices,
will not be able to enter the export program.
Employability guarantee.
Today there are 380,000 jobs in this sector.
3.
Producer protection program
Within the announcements of this Wednesday,
palliative measures for the drought
are also added .
In this case, a simplification and automation criterion will be applied for 69,000 producers affected by climate change.
4.
Customs sanctions regime
A sanctions program
is
It is estimated that there are between US$3,000 million and US$4,000 million of exports that do not meet this requirement.
Criticism of the field: "Saga of terror"
Before the official announcement of the new soybean dollar, the Argentine Agrarian Federation came out to criticize the measure without a filter.
"Faced with rumors that the national government would launch what many call 'a new edition of the soybean dollar', but we prefer to call it 'another episode of a perverse saga of terror', from FAA we want to reiterate what we expressed to all officials and to public opinion: it would be a complete and utter mistake," they said in a lapidary statement.
"Smooth and plain. An unforgivable mistake," said the entity chaired by Carlos Achetoni.
Within this framework, the FAA warned that the measure "affects all producers, especially small and medium-sized ones," given that "it has a full impact on the waterline, amid the tremendous effects of various inclement weather conditions (drought history, hailstorms and frosts)".
"We said it a thousand times, and we reiterate it one more time, because it seems that the interlocutor does not understand it (or does he, and continues to choose to punish us?)", shot the agricultural sector.
In the market, expectations are not the best around the new government soybean dollar.
The figures that were handled around the new Economy announcement were deflating with the passing of the days.
When it was announced informally from the United States with Massa as part of Alberto Fernández's entourage on his visit to Joe Biden, the government said that they expected to raise some US$15 billion in exports
in the second and third quarters.
The figure seemed too high if one takes into account that with the soybean dollar 1 (which was quoted at $200) and the soybean dollar 2 (at $230) they had managed to raise US$ 11,000 million
.
"It is too optimistic. There is no clarity about that calculation, but historically, even though the exchange rate is at a higher level, that increase in exports is not achieved in the short term. I doubt that the soybean dollar 3 is a help that allows bringing oxygen to the situation of the reserves. It will barely be able to provide a flow so that the activity does not continue to fall as a result of the lower income of dollars due to the drought, "said Guido Lorenzo, director of the LCG consultancy, days ago to Clarín .
In this context, the Agrarian Federation has already warned that it will mobilize on April 11 to demand urgent measures to alleviate the critical situation of producers affected by the drought.
The date was agreed upon after a round of consultation with directors of the entity that took place yesterday, Tuesday.
NS