Argentina’s Economy Minister announced a two-point reduction in export taxes on the country’s main crops, a measure that comes just ahead of what is expected to be a strong harvest. The new rates are as follows:

• Soybeans: reduced from 26% → 24%
• Soybean by-products: 24.5% → 22.5%
• Wheat and barley: 9.5% → 7.5%
• Corn and sorghum: 9.5% → 8.5%
• Sunflower: 5.5% → 4.5%

The government highlighted that this tax relief will improve prices received by producers and could boost investment in agricultural machinery, a sector that has experienced a decline in industrial activity this year. They have reiterated that eliminating export taxes altogether remains a priority, and that the administration will continue moving in that direction as macroeconomic conditions allow. He emphasized that the measure aims to strengthen the competitiveness of the agro-industrial sector, which accounts for about 60% of Argentina’s exports.