The Board of the BCRA has established a minimum interest rate to finance producers who stockpile more than 5% of their soybean production, equal to 120% of the last monetary policy rate.
The BCRA exempted from this rate producers whose total amount of financing in the financial system does not exceed ARS2 million, and whose soybean stockpiling does not exceed 5% of their annual harvest capacity.
The minimum interest rate of 120% on the rate of liquidity bills (LELIQs) will apply to all credit lines in pesos, regardless of the type of financing mechanism used. Also, it will supplement the program launched by the government for producers to settle foreign currency from soybean exports at ARS200/USD1.
Moreover, the BCRA informed financial institutions that it is mandatory to open a dollar-linked account where farmers can make deposits.
