The government of Argentina has reopened agricultural export registrations after a temporary ban imposed on December 12. The bioeconomy secretariat announced the decision, stating that the registration of Affidavits of Foreign Sales (DJVE) for agricultural products is now open. The move follows recent measures, including a currency devaluation and a "blended" foreign exchange rate for agricultural exports, as part of President Javier Milei's efforts to reduce the fiscal deficit and control inflation. The closure of the export registry was seen as a measure to increase tax revenues, especially in anticipation of potential currency devaluations. Argentina's export requirements, including the use of DJVEs, aim to ensure a steady flow of foreign currency and provide advance information on projected export volumes. Argentina's 2023-24 corn output is estimated at 50 million metric tons, while soybean harvest is projected at 50.50 million metric tons according to the Buenos Aires Grain Exchange.

SOURCE:GOOGLE