Friday, November 25, 2011

Gov't to authorize exports of extra 1.4M tons of wheat

Economy Minister Amado Boudou said on Friday that on next week the government will authorize Export Registrations (ROE in Spanish) for some extra 1.4 million tons of wheat that should be added to the 3 million tons that had already been authorized to be exported.     

The minister told reporters that Domestic Trad Secretary Guiillermo Moreno had told him that “there are at least 1.4 million extra tons of wheat registered to be exported”, and added, “This prove how good was last year’s harvest ensuring food for all Argentines.”   

The exports of those 1.4 million tons represent U$S250 millions of which the government will obtain fresh U$S80 millions in grain export duties, thus incresing the foreign currency reserves.   

To end, Boudou remarked that news like this “also tells much about the splendorous moment the country is going through.”