Argentine government lowers beef export tax to 6.75%

The Argentine government has reduced the country’s beef export tax to 6.75% from the previous 9%, a decree showed on Tuesday, partly fulfilling a promise that libertarian President Javier Milei made to agricultural producers.

Argentina is a traditional global beef exporter, and the main destination of its meat is the Chinese market.

The chart below shows which were Argentine beef exports’ top destinations in the first half of 2024. The data is from DataLiner.

Argentina Beef Destinations | Jan-Jun 2024 | TEUs

Source: DataLiner (click here to request a demo)

The measure lowering the tax by 25% was taken “to promote sales to foreign markets and improve the level of income of producers and processors, favoring insertion in international markets”, the decree published in the Official Gazette stated.

Milei, a right-wing ultra-liberal, had promised during his presidential campaign last year that he would eliminate export taxes on agricultural products if elected.

Source: XM. Click here to access the original news report.

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