July 25, 2014
Capitanich warns sanctions could be imposed against agricultural producers
The government does not rule out fining agricultural producers who refuse to complete liquidation of their gains as they await a much convenient dollar price.
In a press conference today, Cabinet Chief Jorge Capitanich stressed the government has got the power to implement fines “in order to generate the conditions to preserve the interests of Argentines.”
"The main problem of the development of the Argentine economy is that those who amass foreign currency are not assigning it to the productive market,” he said. “The small and medium producer does not speculate, because he liquidates as soon as he produces to go on working,” he explained, adding that, on the other hand, big businesses “are able to keep the harvest.”
The chief of staff indicated the government “cooperates for the agricultural sector’s profitability” through several benefits, and asked “all those who have the responsibility of liquidating exports to do so with solidarity towards the Argentine people.”
Capitanich along with several government officials is scheduled to meet later today with representatives from grain companies to “coordinate expectations and establish mechanisms of currency liquidation.”
To conclude, Capitanich confirmed “meat business leaders are committed to take back prices to last week’s values.”