It is expected that the liquidation of the agricultural sector may accelerate in the coming days, despite the reduction of withholdings already being in effect. However, so far, this acceleration has not occurred significantly.
According to a research report from PPI, it is noted that a massive liquidation in the sector is not expected, given that the liquidation period has been reduced from 365 to 15 days. This prevents the early liquidation of the major harvest, which would align the liquidation more with seasonality.
Despite this, it is anticipated that exporters will have more stock available to liquidate, as producers have greater incentives to sell what they have accumulated from the previous harvest due to rising prices in the domestic market. This situation has led to an increase in the volume traded in dollars on the Electronic Open Market (MAE).
In this regard, last Friday, the largest total liquidation of the agricultural sector was recorded in five sessions, reaching $84 million. In the previous days, the average remained at $46 million, below the average of the previous week, which was $72 million. Additionally, the Central Bank of the Argentine Republic (BCRA) purchased $163 million that Friday, marking the largest purchase since January 14.
