Area
Argentina
Commodity Group
Oilseeds, oils and meals
Commodity
Agricultural products
Date
01/12/2020
Policy Category
Trade
Policy Instrument
Export policies (non-tariff measures)
Description
Tightened its foreign exchange control regulations mandating the conversion of proceeds from exports of agricultural products (including soybeans and derived products) into Argentine pesos, with the aim of encouraging businesses to keep savings in pesos rather than US dollars.
Notes
ARGENTINA export policy: In December, the Government tightened its foreign exchange control regulation mandating the conversion of proceeds from exports of agricultural products including from soybeans and derived products into Argentine Pesos within 15 days (counted from the time the sale takes place). Based on a new decree, companies that do not respect the deadline will see their export permits suspended. The measure is aimed at encouraging businesses to keep savings in Pesos rather than US dollar, thereby supporting the countrys currency.
