March 4, 2020

Argentina to raise taxes on soybean exports: report

Argentina is expected to raise taxes on soybean exports from 30 to 33%, a spokesman for the CRA confederation of farmers said on Tuesday following a meeting with government officials, Reuters reported.

A spokeperson for the Ministry of Agriculture could not be immediately reached for comment. The ministry had suspended on February 26 the registration of agricultural exports until further notice in a move that traders said could portend a raise in grain export taxes.

Argentina, in recession and on the verge of sovereign debt restructuring, is a key corn and soybean supplier and the world's top exporter of soymeal for livestock.