Argentina Announces Some Export Tax Cuts

Newspaper reports that President Cristina Fernandez's Argy government would announce tax cuts on soybeans appear unfounded as the government there said Monday it would cut taxes on fruit and vegetables, but not soya.

The government also slightly increased earlier tax cuts on sorn and wheat exports for small to medium-sized farmers.

Argy farmers are expected to harvest a record 50.5mmt soybeans in 2008/09, so it's no great surprise that the government are leaving taxes on beans where they are.

This may have a negative impact on plantings for 2009/10, but it's too early to tell, the goalposts could be moved several times yet between now & then.


An Argy Government Spokesman Eying The Goalposts Yesterday