Argentina raises soybean meal and oil export duties

The measure establishes the temporary suspension of the 2% differential of export duties on soybean meal and soybean oil, from Decree 790, from 2020. These export duties will increase from 31% to 33%.

The measure will affect 11 companies exporting soybean by-products, 8 of which represent 95% of total exports.

It was also decided to open export registrations for the 22/23 harvest, for a total of 8 million tons of wheat, in addition to the 2 million tons already authorized in order to capture international prices.

In addition, the government decided to create a Temporary Argentine Wheat Stabilization Fund. The implementation and administration of this Fund will be the exclusive responsibility of the Secretariat of Domestic Trade, which will set up a fiduciary fund for this purpose.