Argentina to temporarily reduce fiscal burden on grain exports

The Argentine government will temporarily reduce the fiscal burden on grain exports until the end of June, Economy Minister Luis Caputo told reporters.

“There is a special situation in agriculture due to the drought and lower commodity prices, so the deductions for major crops such as soybeans, beans, oil, flour, wheat, barley, sorghum, corn and sunseed will be temporarily reduced from Monday (January 27) until the end of June,” the minister said.

Caputo emphasized that he would like to reduce exporters’ costs permanently, but there are no funds for this yet.

In particular, soybean costs will be reduced from 33% to 26%, and wheat costs from 12% to 9.5%.

Caputo said that the government asked businesses to reduce costs. The work has been going on for the last few months.

Tags: edible oils, Argentina, beans, restrictions, corn, sorghum, export, grain, barley, soybean, wheat, sunseed