October 21st 2023
Elections Argentina
National Holidays: Monday, November 20th.
Grains and Markets:
The Government has announced that for the coming 30 days, in a bid to increase the revenue of foreign currency (USD), they will the widening the scheme that so far was exclusive to soya bean exports.
Starting today, Tuesday October 24th, exporters of all products will be able to retain and sell 30 per cent of the proceeds of the sales in USD cash and sell the USDs on the “free” market instead of delivering them to the Central Bank and be paid at the official rate of Pesos 365 per USD 1.00.
FYG, the “free” exchange rate today stands at around Pesos 833/1,000 depending on the market used for trading.
Elections Argentina:
As reported previously, elections were held on Sunday October 22nd. Presidential, legislative and some local.
For president the result is:
Massa (Peronista) 36.7 per cent
Milei (Libertarian) 30.0 per cent
Bullrich (Center-Left) 23.8 per cent
We now have a second round between Massa and Milei on November 19th.
Congress is a three way split.
Social unrest:
In view of the above mentioned result of the election, galloping inflation and general uncertainty it can be expected that pressure on wages and disputes regarding income will increase during the coming months into the end of the year. Strikes could become more frequent. As an example, already Monday 23rd, baggage handlers at the Buenos Aires domestic airport went on strike for most of the day.
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