ANNOUNCED AS TEMPORARYYes
On February 15, 2017, the Ministry of Agroindustry and the Federal Public Revenue Administration of Argentina passed the Joint General Resolution 3993-E/2017 establishing a temporary production subsidy for the soybean produced in the provinces of Salta, Jujuy, Formosa, Santiago del Estero, Tucumán, Corrientes, Misiones, Catamarca, La Rioja and Chaco. The total budget of the program is circa USD 65 million and producers are intended to receive 5% of the average monthly FOB value.
The total budget of the program is circa USD 65 million (ARS 1,000 million) and producers are intended to receive 5% of the average monthly FOB value. Producers will only receive the reimbursement for the first 2,000 tonnes sold within the period of March 1, 2017, and August 31, 2017.
This agricultural stimulus is enclosed within the "Plan Belgrano", a program that is part of a greater development scheme created by the Argentine Government that seeks to promote the development of the north of the country to minimise social differences between these two regions.
On August 31, 2017, the Ministry of Agroindustry adopted Disposition 3-E/2017 extending for one month the deadline to apply for this subsidy.
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