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Argentina's grain exports rise 57% after taxes are scrapped

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Staff writer | Thursday February 18, 2016 2:55AM ET
Argentina grain
Food trade   Exports started rising after December 14

Argentina's grain exports surged 57 percent between December and January, thanks to the elimination of the taxes on wheat, corn, sorghum and barley.

The reduction of the duty on soy exports also helped, the Agroindustry Ministry said.

“Between December 21, 2015, and January 31, 2016, 3,359,082 tons were exported, or about 57 percent more than in the same period in the previous year, when 2,140,225 tons were sold abroad,” the ministry said in a statement.

Argentina's exports started rising after December 14, when President Mauricio Macri said he would scrap the taxes on grain exports and cut the duties on foreign sales of soy.

Exports received “a strong boost” when the government decided to eliminate quotas in late December, the ministry said.

The measures were taken to increase output and help regional producers develop, the Agroindustry Ministry said.


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