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The Agrarian Federation reacted to the announcement of the new soybean dollar: “The patches do not work”

In a statement they remarked that it is a measure that “complicates the majority.” The new currency will start working on Monday and will be quoted at $230.

Following the Government’s announcement of the launch of the new soybean dollar, which will start operating next Monday and will have a price of $230, the Argentine Agrarian Federation expressed its disagreement with the new measure implemented and considered that it is “a patch”.

It was through a statement issued this Friday that the organization of rural producers complained about the news, arguing that the new regulations “harm them.”

Likewise, they stressed their concern about the effects that this may cause and called for the implementation of a comprehensive agricultural policy.

“From the Argentine Agrarian Federation we reiterate that this is not the way to go and that continuing to multiply the exchange rates threatens the sector and the economy in general. That patchwork policies are that: patches that imply some benefit to a few and complicate the majority”They began by saying in the document.

And they added: “According to the experience that we noticed in the announcement of the first edition of this program, which unfortunately later became reality, we see that it only served to continue concentrating, benefiting actors who are not the producers, let alone to the small and medium-sized ones that directly we no longer have soybeans to sell“.

In this sense, they shared the experience obtained after the last implementation of the “soybean dollar” last September, which they described as “negative.”

“The previous time it had a very strong and negative impact on the rental price, of the inputs of the regional economies, as well as on the inputs of the poultry activity, cattle and pig farming, and dairy, so not only the producers do not benefit from anything, but we directly harm ourselves”, they claimed from the FAA.

Then they once again expressed their discontent with the Government for the announcement of this program that, according to Minister Sergio Massa, “seeks to encourage producers to liquidate the harvest they have withheld” and will run until December 31.

The foreign exchange income needs of the country cannot always be sustained by the same sector, nor can it always benefit the same and harm the smaller actors. The concentrating effect of the economy produced by this measure is very worrying, which means that more and more small and medium-sized producers continue to leave the productive circuit and the rural network,” the producers said in the statement.

And they concluded with a request to the national authorities: “It is necessary for Argentina to have a comprehensive agricultural policy that meets the needs of all producers, contains regional economies and contemplates the dramatic situation we are suffering as a result of the drought, frost and other inclement weather. That is the real and urgent agenda of the producers”.

What will the new soybean dollar that starts this Monday be like?

Urged by the need to strengthen the Central Bank’s reserves and thus meet the goals agreed with the Monetary Fund, the economic team launched a new version of the “soybean dollar” program that it applied last September. Now it will trade at $230 and seeks to capture a sale of US$3,000 million.

The new soybean dollar will come into effect from next Monday, November 28, and will be priced thirty pesos higher than in the first version, which reached $200.

On Monday a decree will be published with a new value for the soybean dollar of $230. “It is good to give the producer certainty,” said Massa.

The new price of $230 updates the value of the soybean dollar based on the jump that the wholesale dollar gave in this period, which went from $150 to $165. Thus, with this level producers are given a 39% more dollar higher than that received by the rest of the exporters.


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