Argentina’s agricultural exports hit record ahead of tariff hike

Argentina’s agricultural exports hit a record high in June as farmers increased shipments ahead of an export tax hike that took effect on July 1, Reuters reported.

Argentina exported a record 64.5 million tonnes of grain and processed products in the first six months of the year, according to the Rosario Grain Exchange.

June exports also broke records for the largest volume ever shipped in a single month, at 23.53 million tonnes, or 36% of total exports in the first half of 2025.

The Cereals and Oilseeds Export Chamber (CIARA-CEC), which brings together some of the sector’s most important export companies, said exports generated $3.7 billion in June, up 87% from a year earlier. Export revenues rose 21% in June compared to May.

The Argentine government has extended the temporary reduction in export duties on one of its main crops, wheat, but has not extended them for corn, soybeans, soybean meal and oil. Until the end of June, the duty on soybean exports was 26%, and on corn – 9.5%. Since July, they have again been 33% and 12%. The duty on soybean oil has increased from 26% to 33%, and on soybean oil – from 24.5% to 31%.

The government is encouraging Argentine farmers to switch to wheat production, which is sown from May to July. This is in line with the situation on the world market, where wheat is in high demand.

The president of CIARA-CEC said last week that higher duties could lead to a reduction in the supply of agricultural products by Argentine farmers, which would affect export sales. Exporters pass on the duties levied by the government to the prices they offer to local farmers.

Grain trade in Argentina has slowed after the tariff hikes took effect.

“Producers anticipated, they sold, and now the markets will be calmer,” said Lorena D’Angelo, an independent analyst in Rosario.

Argentina is the world’s largest supplier of soybean oil and meal and the third-largest exporter of corn.

Tags: wheat, Argentina, corn, export, grain, soybean