Export Tax Relief Aids Argentina’s Soybean Trade

Argentina recently implemented an export tax reduction program to reduce the financial burden on soybean farmers. Beginning in January 2018, a monthly reduction of 0.5% will reduce export taxes for soybeans and soybean oil from 30% and 27%, respectively, to 18% and 15% by December 2019. Argentine soybean production and marketing has been squeezed by high storage, transport, and export taxes. The progressive tax cuts should address some demands for relief from farmers concerned over low yields due to drought conditions. With 90% of soybean acreage planted and this season’s planting window closing, many Gro Intelligence subscribers will value the ability to easily monitor the ongoing effects of tax cuts on Argentina’s soybean and soybean oil exports.