The settlement of foreign currency from the agro-export sector reached its highest level in more than two decades in July 2025, following the expiration of the transitional scheme for the reduction of export duties established by the Decree 38 / 2025. According to the information provided today (01.08.2025) by the Chamber of the Oil Industry of the Argentine Republic (CIARA) and the Center of Cereal Exporters (CEC), the oilseed-cereal complex entered US$ 4.102 billion during that month, what represents an increase of 57% compared to July 2024 and 10% compared to June 2025.
In cumulative terms, the sector's foreign exchange earnings between January and July 2025 amounted to US$19.521 billion, 43% more than the same period last year. The month of July, CIARA-CEC highlighted, “became the best month since records began (2002).”
A transitional scheme that encouraged liquidations
The boost in the settlement of foreign currency is directly related to the temporary regime of export duty reduction established by the Decree 38/2025, which expired on June 30. This regime established a 0% tax rate for products in Annex I and a temporary reduction in rates for key products such as soybeans, wheat, corn, and sunflowers (Annex II), provided that exporters adhered to the regime and settled at least 95% of the foreign currency within 15 business days of registering the DJVE.
The scheme, which also required prepayment of export duties, led to an early payment of transactions to take advantage of the tax benefits before they expired. July's record-breaking liquidation, therefore, reflects an anticipatory effect that could moderate in the following months, in the absence of new similar measures.
Productive effect and export structure
CIARA and CEC emphasized that the settlement of foreign currency "is the mechanism that allows us to continue purchasing grains from producers at the best possible price," and explained that this payment is made in advance of shipment: approximately 30 days in the case of grains and up to 90 days for oils and protein meals.
The statement warns that year-over-year comparisons should be read with caution., since the behavior of the settlement is conditioned by multiple factors, such as international prices, crop quality, weather conditions, union measures, and regulatory or phytosanitary restrictions imposed by the destination markets.
Despite the complex's importance in the economy—it accounted for 45% of Argentine exports in 2024, according to INDEC data—Argentina remains stagnant in terms of production and export growth. "It depends exclusively on international price fluctuations to modify its export structure," CIARA-CEC emphasized.
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