The Ministry of Agriculture, Livestock and Fisheries of the Nation and the Federal Administration of Public Revenue (AFIP) agreed to the implementation of a settlement system for foreign exchange which allows you to sort and provide certainty in the operations of purchase and sale of grains.
On August 5, Afip enabled the system that allows for price adjustment settlements based on the corresponding exchange rate through credit and debit notes for those who did not enter the system. It is currently available to achieve total predictability for parties involved in such operations.
It is important to remember that the National Agricultural and livestock portfolio, through the National Directorate of Agricultural Trade Control, established in a timely manner the system for calculating the exchange rate to be considered in liquidations whose price is nominated in US dollars.
The new rule indicates that in contracts for the sale of grain with the delivery of goods whose price is denominated in US dollars, the cancellation, both total and partial, must be made taking into account the dollar exchange rate of the Banco de la Nación Argentina, the closing date of the day before the date of the cash payment.
In this way it aims to achieve a balance between the collection and the payment of the grains in Argentina, and at the same time reduce the uncertainty ?it would exchange when it comes to financing inputs or taking bank debt.