# Argentina's soy dollar 3 close to revenue target, but not a success - Fastmarkets

> Argentina's third soy dollar program, which set a preferential exchange rate of 300 pesos per dollar for soybean and byproduct sales, is ending. Revenues were close to government targets, with about 6 million tonnes of export licenses worth $5 billion, mostly soymeal, though the 7-10 million tonne goal was not met. Industry sources said the program was not a success.

- Date: 2023-06-05 · published 2023-06-05T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13961-argentina-s-soy-dollar-3-close-to-revenue-target-but-not-a-success-fastmarkets
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

The incentive pushed meal sales into export channels and added supply to world meal markets, which weighs on soymeal prices. The program's end may reduce that pressure.

## Read by commodity

- SBM: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2022-11-28 | [Argentina restarts soy dollar program until year-end, China to buy 1 mil-1.5 mil mt](https://feedsoft.ai/events/38697-argentina-restarts-soy-dollar-program-until-year-end-china-to-buy-1-mil-1-5-mil.md) | +3.4% | +11.2% |
| SBM | 2021-09-24 | [Argentina could grow 70m mt of soybeans with tax cut: ACSOJA - Fastmarkets](https://feedsoft.ai/events/44927-argentina-could-grow-70m-mt-of-soybeans-with-tax-cut-acsoja-fastmarkets.md) | -2.5% | -3.2% |
| SBM | 2023-04-05 | [Argentina unveils third 'soybean dollar' program to boost farmer sales](https://feedsoft.ai/events/13974-argentina-unveils-third-soybean-dollar-program-to-boost-farmer-sales.md) | +0.2% | -6.0% |
| SBM | 2024-03-25 | [Argentina FX change, return of tax to spur exports \| Latest Market News](https://feedsoft.ai/events/13931-argentina-fx-change-return-of-tax-to-spur-exports-latest-market-news.md) | -2.4% | +1.0% |
| SBM | 2022-09-22 | [Argentina soy sell-off continues, but sales expected to slow - DatamarNews](https://feedsoft.ai/events/14010-argentina-soy-sell-off-continues-but-sales-expected-to-slow-datamarnews.md) | -6.3% | -9.1% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/argentinas-soy-dollar-3-close-to-revenue-target/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.