November 23rd 2023
New exchange rate announced today
National Holidays: Friday, December 08th
Grains and Markets:
Colombia is still reported to be in the market for a Supramax of soya bean meal in January. Malaysia also on similar dates and volume.
Iran (SLAL) will tender for 120,000 tons of soya bean meal middle of this week for a December-February window.
South Korea’s Agro-Fisheries are buying 50,000 tons of Non-GMO soya beans.
Algeria tenders for 50,000 of barley on January-February window.
Taiwan (MFIG) is also purchasing 65,000 tons of maize for January.
New exchange rate announced today:
Decree 597/2023
The Government has extended until December 10th 2023 the regulation announced past October 24th under Decree 549/2023.
Certain exports of services and goods will be allowed to be collected and turned into local currency via Central Bank 50% and Stock Market 50%, resulting into an intermediate ROE of about $650/USD, “Agro Dollar”.
This serves to encourage further income of foreign exchange (USD) to the local market.
Official Rate of Exchange will remain at its current value until December 10th when the new Government takes office.
This will have a certain impact on certain port services.
We will update you as the situation develops.
Presidential Election November 19th:
As mentioned before.
The run-off (ballotage) elections were held Sunday November 19th with Javier Milei (Liberal-Libertarian) being elected by 55.69 per cent of the electorate.
The other contender, Sergio Massa (Peronista), collected 44.3 per cent of the votes.
Javier Milei, elected President. Once HSBC Economist
The margin between candidates is the highest in 40 years and Javier Milei appears to be the first Liberal-Libertarian candidate elected anywhere.
Milei takes office on December 10th. Yesterday, Monday 20th was a National Holiday so all local markets were quiet.
At the NYSE (Wall Street) shares of Argentine companies quoted there rallied on average 40 per cent.
Today, talks for the transition commenced immediately and names of the new Cabinet are being slowly reported.
We are confident that the new Government is going to bring us better times with increased trade and demand.
Social unrest is also to be expected.
STS BUNKER AT ZONA COMUN FOR NEXT DAYS:
As always, the STS operation is up to the discretion of the Masters of the vessels involved.
Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.
For more information