January 9, 2009
Argentina to allow six months for grain exports after declaration
Argentina has extended the period allowed for exporters to actually ship grains after making an export declaration if they pay the corresponding export tax when submitting the declaration, the agricultural trade office, or ONCCA, announced Thursday (January 8).
Exporters will now have 180 days to ship the grain after declaring an export sale.
Before the new extension, exporters had just 90 days to ship wheat, 120 days for corn and 180 days for soy and all other products, when the export tax was paid up front. If exporters waited to pay the tax until the date the grains were loaded, they were given just 45 days.
The new extension "adds transparency to exports, boosts dynamism of futures markets and avoid tax speculation and evasion," ONCCA said in a press release.
