Argentina Reduces Grain Export Taxes to Support Agricultural Sector

Argentina, a global agricultural powerhouse, announced on Thursday (23) a temporary reduction in grain export taxes in response to pressure from rural producers and the need to support a sector severely impacted by drought and falling commodity prices.

According to Economy Minister Luis Caputo, the new tax rates will take effect on Monday (27) and remain in place until June. “This government is committed to reducing taxes,” said Caputo.

The changes include:

Soybeans: export tax reduced from 33% to 26%.

Soybean derivatives (oil and meal): export tax reduced from 31% to 24.5%.

Wheat and corn: export tax reduced from 12% to 9.5%.

Additionally, Javier Milei’s libertarian government announced the permanent elimination of export taxes on so-called “regional economies,” aiming to enhance the competitiveness of strategic sectors.

Argentina, the world’s largest exporter of processed soybean oil and meal, the third-largest corn exporter, and a leading producer of wheat and barley, is grappling with significant climate challenges. The drought has been affecting crops since late December. This measure seeks to alleviate the crisis and foster recovery in the agricultural sector, vital to the country’s economy.

Source: CNN Brasil

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