May 27, 2025
Argentina to Increase Export Taxes
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Argentine farmers were furious when the economy minister, Luis Caputo, announced that the previous cut to export taxes - initiated in January of 2025 - would be eliminated on July 1st.
The current export tax on soybeans is 26%, but that will increase to 33% on July 1st. The current export tax on soybean meals and soybean oil is 24.5% but that will increase to 31% on July 1st. The current export tax on corn is 9.5%, which will increase to 12% on July 1st.
The barley and wheat export taxes will remain unchanged as farmers begin planting their winter crops.
The announcement was a blow to farmers who are struggling to turn a profit. Heavy rains in northern Buenos Aires have impacted crops that have yet to be harvested and potentially impacted even some of the stored grain.
President Milei campaigned on the platform that he would eliminate export taxes on agricultural commodities. But the taxes are back to where they were before he was elected.