Supplies for the Country Must Be Traded at the Official Exchange Rate of the US Dollar

The President of the BCRA, Miguel Ángel Pesce, held a meeting with representatives of the agriculture and livestock industry. In this meeting, the President assured that there are no reasons for herbicide and fertilizer providers to trade at a different exchange rate but the official one for setting the prices of products to be traded in the domestic market.

Pesce told country leaders that he will meet the heads of enterprises leading the provision of supplies in order to know if they are facing any difficulties to access the forex market.

In this meeting, he also informed about the upcoming launch of the time deposit linked to the dollar price evolution offered by Banco Nación to agricultural producers who settle their crops. This instrument, variable interest rates for deposits known as DIVA, will allow them to guarantee the value in foreign currency of the production sold.

The meeting was a video conference and Sergio Woyecheszen—BCRA Vice President—and Julián Echazarreta— Minister of Agriculture, Livestock and Fisheries—also participated together with Pesce.

In representation of the rural entities, the participants were Carlos Achetoni and Elvio Guia (Federación Agraria Argentina), Carlos Iannizzotto and Norberto Niclis (Coninagro), Jorge Chemes and Gabriel De Raedemaeker (Confederaciones Rurales Argentinas (CRA)), and Daniel Pelegrina and Carlos Vila Moret (Sociedad Rural Argentina (SRA)).

June 8, 2020.