Argentina’s new government raises export taxes on corn, wheat, soybeans

Argentina’s new government, in a widely anticipated move, raised taxes on corn, wheat and soybean exports in order to meet the country’s fiscal requirements, according to an official gazette released Saturday, but this is expected to hit farmers and export volumes.

The new government closed export registrations for December 16, and announced the export tax increase.

Taxes on corn and wheat exports were raised to 12% from 6.7%, while taxes on beans, soybean oil and…

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