Argentina reduces duties on grain exports

Argentine Economy Minister Luis Caputo announced a reduction in grain export duties, La Depecha Diario reports.

The duty on wheat and barley will be reduced from 9.5% to 7.5%, corn and sorghum from 9.5% to 8.5%, soybeans from 265% to 24%, soybean derivatives from 24.5% to 22.5%, and sunflower seeds from 5.5% to 4.5%.

This decision represents a permanent reduction in the tax burden on one of the sectors that generates the largest amount of foreign currency for the Argentine economy.

Tags: soybean, wheat, sunseed, Argentina, duties, sorghum, sunflower oil, grain, soybean oil, barley