Argentina: Argentina Slashes Export Taxes Amid Economic Pressures - Sparking Hope for Argentine Farmers

Argentina will cut export taxes on major agricultural commodities, effective January 27, 2025, on key crops including soybeans, corn, and wheat. These lower export taxes will remain in place throughout this crop season until June 30, 2025. The government also permanently eliminated export taxes on other crops such as sugar and peanuts, aiming to alleviate the strain on producers of low global prices, high production costs, and dry growing conditions. The move, welcomed by the agricultural sector, is expected to boost farmer profitability and global competitiveness while signaling potential long-term policy shifts by the Argentine government.