Argentinian government will continue to lower soybean and soybean processed products export tax

04.08.2016

Sticking to the new course in agro sector reforms, Argentinian AgMin confirmed its intension to lower soybean export tax from the current 30% to 25% and export tax of processed soybean oil and meal – from 27% to 22%, which comes into act in May-April 2017.

Earlier AgMin`s officials commented that current tax rate is quite profitable for producres and for state budget as well, considering soybean price increase. Moreover, the officials had been were slow in announcing its final decision to follow the new course adopted in December 2015, stipulating annual decrease of soybean export taxes, which provoked concerns among farmers and market operators. In some regions of Argentina current tax rate is still not profitable for soybean production and they can prefer to expand corn sowing area, which is more attractive now.   

 

 

UkrAgroConsult


 

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