Prices Care and wheat, under the magnifying glass of Feletti

A few days after the April inflation rate is known, which would return to around 6% and which worries the Government, the Secretary of Commerce led by Roberto Feletti reinforced measures related to the freezing of prices, the instrument that the ruling party bets to slow down the escalation of inflation.

This week Feletti met with bakers, noodle makers, fresh pasta manufacturers and millers to operationalize the operation of the Argentine Wheat Stabilization Fund, which due to the rise in international prices is having an impact on the farinaceous products of the basic basket.

“The Secretariat of Internal Trade has carried out all the steps to build the trust and have the funds available, with the institutionality and legal framework required. We are in a position to disburse the funds to ensure the price of wheat,” said Feletti, adding: “Given the impact of the war on the value of wheat, this is an effort by the national State to place flour at affordable prices and maintain the supplied market.

In order to carry out this scheme, which implies a very complex engineering, the financing will be made through the collection of the differential of 2% of the export duties of soybean meal and oil, which went from 31 to 33%. , which represent approximately between 370 and 400 million dollars. This measure reaches 11 companies that export soybean by-products, of which 8 represent 95% of total exports.

According to Commerce, the trust is already in a position to begin the transfer of the first subsidies to compensate the purchase value of the wheat to the mills to set the sales reference price so that the flour reaches the bakeries with pre-conflict values. war between Russia and Ukraine.

The control of the wheat trust will be carried out with inspections by the secretariat and in the provinces, work will be done with the Federal Council for Internal Trade to coordinate the surveys. Also the bags of flour that are made from the funds granted through the trust will be identified with a stamp that says “Product subsidized by the national government”, to guarantee its traceability and follow-up. The products achieved are type 000, 0000, tapera and semolín flours. The subsidized prices of bread and flour derivatives such as noodles and cookies, among others, will reach the final consumer in a few days, when the implementation of this mechanism completes its reach to each link in the marketing chain.

In the context of supervising that there are no shortages in the shelves of the products included in Care Prices, Feletti also met with cleaning companies, including Reckitt, PyG and SC Johnson, to control the wholesale supply of the sixty products that make up the proximity basket.

At the meeting, they proposed to solve the slight drop in the supply of the program and the rise in prices of products that are outside the regulated basket. Regarding the first point, from the state agency they requested information regarding the volumes produced to be certain that the proximity baskets will be supplied. On the other hand, they also agreed to regular meetings to monitor effective compliance with +PreciosCuidados.

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