Argentina reduces duties on grain exports
Argentina has permanently reduced export duties on major grains to ease the tax burden on its key foreign-exchange-earning sector. Wheat and barley duties drop to 7.5%, corn and sorghum to 8.5%, soybeans to 24%, soybean products to 22.5%, and sunflower seed to 4.5%, Economy Minister Luis Caputo announced.
Argentine Economy Minister Luis Caputo announced a reduction in grain export duties, La Depecha Diario reports.
The duty on wheat and barley will be reduced from 9.5% to 7.5%, corn and sorghum from 9.5% to 8.5%, soybeans from 265% to 24%, soybean derivatives from 24.5% to 22.5%, and sunflower seeds from 5.5% to 4.5%.
This decision represents a permanent reduction in the tax burden on one of the sectors that generates the largest amount of foreign currency for the Argentine economy.
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Source : Ukr Agro Consult
