Argentina mulls reinstating ‘soy dollar,’ says agency

Argentina is considering restoring the “soy dollar,” a special exchange rate for soy exporters, to try to increase revenue from foreign sales, a government source told Reuters on November 18. When asked about the possibility of the government reinstating the rate, the source said that “it was under analysis” but did not specify figures.

In September, the Argentine Ministry of Economy announced a special-treatment exchange rate of 200 pesos per dollar for grain producers. The ‘soy dollar’ was in effect between September 5 and 30.

The preferential exchange rate boosted Argentine oilseed exports that month, allowing the country to ship13.3 million tonnes. According to the Argentine Ministry of Agriculture, the volume was well above the average for the month, which was 4.4 million tonnes.

Source: Valor Econômico

To read the full original article, please go to: https://valor.globo.com/agronegocios/noticia/2022/11/18/governo-da-argentina-pode-retomar-dolar-soja-diz-agencia.ghtml

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