AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 7 May 2013, the government of Argentina introduced a new production subsidy worth500,000,000 Pesos (USD 52,572,650.00). Argentine wheat producers receive a subsidy of up to USD 30 per ton based on a newly instituted "Certificate for the Stimulation of Argentine Agricultural Production".
The aim of the issuance of this Certificate is to upgrade the overall process of distributing refunds to exporters of wheat. To receive this certificate, exporters of wheat have to declare to the Unit for Coordination and Evaluation of Domestic Subsidies the amount of wheat they produced and exported in a given fiscal year.
Lastly, the financial affairs related with the distribution of these refunds will be managed via a fiduciary fund specifically established to deal with the export refunds of wheat and its derivatives. This fiduciary fund will be administered by the National Argentine Trust Fund.
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