Argentina’s new government hikes grain and oilseed export taxes

January 02nd, 2020

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