# Argentina unveils third 'soybean dollar' program to boost farmer sales

> Argentina reintroduced a preferential exchange rate of 300 pesos per dollar for soybean complex exports, valid April 8 to May 31, to boost shipments and central bank reserves. Economy Minister Sergio Massa cited the worst drought in Argentine history as the backdrop.

- Date: 2023-04-05 · published 2023-04-05T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13974-argentina-unveils-third-soybean-dollar-program-to-boost-farmer-sales
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

The subsidized dollar rate encourages exporters to sell soybean products, which could add export supply of meal and oil, partly offsetting the drought-driven tightness and weighing on Argentine export prices.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: neutral
- USDARS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-09-20 | [Latest “Soybean Dollar” Program Accelerates Sales in Argentina](https://feedsoft.ai/events/13952-latest-soybean-dollar-program-accelerates-sales-in-argentina.md) | +0.6% | +1.5% |
| 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 | 2022-12-05 | [Lowered taxes to boost Argentine soyabean meal and oil exports](https://feedsoft.ai/events/13993-lowered-taxes-to-boost-argentine-soyabean-meal-and-oil-exports.md) | +9.8% | +13.7% |
| SBM | 2017-11-28 | [Soybean meal: lower export duties in Argentina](https://feedsoft.ai/events/67812-soybean-meal-lower-export-duties-in-argentina.md) | +2.5% | -3.6% |
| SBM | 2023-06-05 | [Argentina's soy dollar 3 close to revenue target, but not a success - Fastmarkets](https://feedsoft.ai/events/13961-argentina-s-soy-dollar-3-close-to-revenue-target-but-not-a-success-fastmarkets.md) | +0.1% | +4.0% |
| SBO | 2023-09-20 | [Latest “Soybean Dollar” Program Accelerates Sales in Argentina](https://feedsoft.ai/events/13952-latest-soybean-dollar-program-accelerates-sales-in-argentina.md) | -3.7% | -5.0% |
| SBO | 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) | -3.6% | -10.0% |
| SBO | 2022-12-05 | [Lowered taxes to boost Argentine soyabean meal and oil exports](https://feedsoft.ai/events/13993-lowered-taxes-to-boost-argentine-soyabean-meal-and-oil-exports.md) | -6.1% | -9.6% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/040523-argentina-unveils-third-soybean-dollar-program-to-boost-farmer-sales

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