In the second phase of the “soybean dollar” program in Argentina – a fixed exchange rate of 230 pesos per dollar for shipments in the segment – between November 28 and December 31, the country exported 6.4 million tons of the oilseed, according to the Buenos Aires Grain Exchange. The volume was 57% lower than that of the first phase of the exchange rate advantage, between September 5 and 30.
In a statement, the Grain Exchange said that exports decreased because the second phase of the program began at a time when producers had already sold a significant volume of soybeans.
In the exchange’s assessment, the program achieved its objective of increasing the inflow of dollars into the country. Between November 28 and December 31 of last year, soybean exports generated US$3.1 billion, an amount slightly higher than the target set in November, of US$3 billion.
Source: Jornal – Valor Econômico