Argentine government seeks to raise $2 billion with new corn dollar

게시됨 2023년 7월 26일

Tridge 요약

The Argentine Ministry of Agriculture has included corn and malting barley in the Export Enhancement Program, which raises the differential exchange rate to 340 Argentine pesos per 1 US dollar for regional economies. This increase in the official exchange rate for corn exports is expected to strengthen the central bank reserves. However, there are concerns from various sectors of the economy about the inclusion of corn in the new exchange regime, as it may disrupt the value chain and lead to higher costs for producers of meat and milk.

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원본 콘텐츠

In accordance with resolution 295/2023, published in the Official Gazette, the Argentine Ministry of Agriculture included corn and malting barley in the Export Enhancement Program, which determined an increase in the differential exchange rate to 340 Argentine pesos per 1 US dollar for regional economies. An increase in the official exchange rate for corn exports is estimated to strengthen central bank reserves. The unofficial dollar exchange rate on the market is rumored to be around 536-541 pesos to 1 dollar, compared to the official value of 270-283 pesos to 1 dollar. The Argentine government is looking to raise $2 billion with the new corn dollar. Grain corn, flint, popcorn, and malting barley should be included in the program, which were not available in previous versions of the program. Payment of export duties must be made before November 30 in accordance with the relevant resolution. The resolution stressed that "it is necessary to continue the implementation of policies ...

출처: Oilworld