Historic: in just three days, the USD 7 billion settlement quota was exhausted

The national government celebrated on Wednesday an unprecedented milestone in the history of Argentine foreign trade. Following President Javier Milei's decision to temporarily eliminate export duties on grains and meats, the agricultural sector reacted immediately and in just three days reached the maximum quota of 7 billion dollars, set by Decree 682/2025.

The presidential spokesperson, Manuel Adorni, had announced on his X account that "big news for Argentina" was coming. A few minutes later, he retweeted the official statement from the Revenue and Customs Control Agency (ARCA), which confirmed: "The registration of the seven billion dollar quota provided for by Decree 682/2025 has been reached, so the option to register the Foreign Sales Affidavits (DJVE) covered by this benefit has been deactivated."

The government's measure had come into effect on Monday through Decree 685/2025, which set a zero rate until October 31 or until the mentioned quota was reached, whichever came first. The goal was to boost the most competitive sector of the Argentine economy and accelerate the inflow of foreign currency. The result exceeded all expectations.

According to the Undersecretariat of Agri-food Markets and International Integration (SAGYP), on Tuesday DJVE for 11.47 million metric tons (25.3 million pounds) had been registered, equivalent to 4.181 billion dollars. Of that total, 80% correplied to soybeans, oil, and by-products, while the remaining 20% was mainly bread wheat and sunflower oil. The volume traded in a single day doubled the historical record of August 2018, when 6 million metric tons (13.2 million pounds) had been registered.

Finally, on Wednesday night, ARCA confirmed that the quota had been filled. From that moment on, new transactions are governed by the scheme prior to the decree.

The official statement itself emphasized that "from now on, only DJVE may be registered under the previous scheme," marking the end of one of the most successful measures of the libertarian administration. The elimination of export duties covered not only grains such as soybeans, corn, wheat, and sunflower, but also bovine and poultry meats, always with the condition of settling 90% of the foreign currency within a maximum period of three business days.