On 17 May 2011, the Federal Administration of Public Revenue (AFIP) issued General Resolution 3110 updating the reference values applicable to Argentine shortfin squid (illex argentinus) for export. The measure lists a free on board (FOB) price per kg in USD to each type of squid product including the countries of destination.
 
The reference values affect the Mercosur Nomenclature (NCM) code 0307.99.00 and the values for each type of squid range from USD 0.90 per kg to USD 4.20 per kg. Compared to the preceding measure on reference values for squid (i.e., General Resolution 2687/2009, see also 'Related Measures'), this one increases the prices for each type of squid.
 
Argentina introduced reference values of precautionary nature for exportgoods in 2005 (in Spanish: valores referenciales de carácterpreventivo). The stated purpose is to safeguard the revenue derived fromthe payment of export duties (see WTO Trade Policy Review).The reference values are based on free on board (FOB) prices in USD. Alist with all current reference values can be consulted under: www.afip.gob.ar/Aduana/valoracion/Valores%20Referenciales%20vigentes.pdf
 
The measure was effective on 19 May 2011 and replaced by General Resolution 3519/2013 on 1 June 2013 (see 'Related Measures').