Argentina plans to raise grain export taxes

Argentina’s new government of libertarian President Javier Milei will seek to raise export taxes to 15% on corn and wheat, though that would not impact tariffs on soybeans and soy products, local newspaper La Nacion reported, citing official sources. The export tax is currently 33% for soybeans, 31% for soybean meal and soyoil, and 12% for corn and wheat and grain sorghum. Reuters confirmed the report via an Argentine industry source with direct knowledge of the matter.

Adjusting export taxes would require action by Argentina’s congress. La Nación and other local media reported Milei’s government would seek to push through the tax increase via a bill that would be presented in Congress, though timing of such a measure was uncertain.

“Once this emergency is over, we are going to move forward with the elimination of all export duties,” Economy Minister Luis Caputo said.

Tags: Argentina, export taxes, grain