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Argentina’s new government hikes grain and oilseed export taxes

Argentina’s new government hikes grain and oilseed export taxes

The Argentine govdernment increased export taxes on soybeans, grains and their derivatives.Newly elected president Alberto Fernández issued decree 37/2019 to modify the export duties imposed by the Macri government. taxes d were increased by 5.3 percentage points across the board, with the rates on soybeans, soya oil and soya meal rising from 24.7% to 30% and those on grains (barley, corn, sorghum, sunflower seeds and wheat) increasing from 6.7% to 12%.A market source told Argricensus that the export duty increase would have a largely negative impact on 2020/21 grain production. Argentina is the world’s third largest corn and soyabean exporter and largest supplier of soya meal livestock feed, R

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