AreaArgentina
Commodity GroupOilseeds, oils and meals
CommodityAgricultural products
Date01/12/2020
Policy CategoryTrade
Policy InstrumentExport policies (non-tariff measures)
DescriptionTightened 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.
NotesARGENTINA 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.
