Javier Milei eliminated export taxes on the agricultural sector to strengthen the supply of dollars.
Javier Milei eliminated export duties on the agricultural sector
porEditorial Team
Argentina
The measure is in effect until October 31 or until sworn export declarations reach USD 7,000 million
The national government, in a historic measure for Argentine agriculture and economy, ordered the total suspension of export duties on grains. The measure is in effect until October 31 or until sworn export declarations reach USD 7 billion, whichever comes first. The decision was announced by presidential spokesperson Manuel Adorni, in a context of currency pressure that raised the official dollar rate to $1,515.
Officials from the Executive Branch emphasized that the main objective is to inject dollars into the market. This will allow the Central Bank's reserves to be protected and macroeconomic stability to be guaranteed, in line with the reform program promoted by President Javier Milei.
"The old political establishment seeks to generate uncertainty to sabotage this government program. By doing so, they punish Argentines. We won't allow it. That's why there will be zero export duties on all grains until October 31," Adorni stated.
X de Manuel Adorni
Positive impact on the agricultural sector and the real economy
The measure benefits soybeans, corn, wheat, barley, sorghum, and sunflower. This means immediate relief for the productive sector and boosts exports.
Agricultural leaders acknowledged that this is a historic demand that has finally been addressed. Carlos Castagnani, president of Confederaciones Rurales Argentinas, said: "It's such an unfair tax that, even if only for a while, its elimination helps demonstrate the need for structural change."
Meanwhile, from the grain industry, Gustavo Idígoras, head of CIARA-CEC, supported the initiative: "Any measure that eliminates export duties, even temporarily, is positive and necessary."
Even the president of Sociedad Rural, Nicolás Pino, acknowledged on Radio Mitre: "I'm surprised by the measure, I haven't done the math." He then added: "I just found out from you. Surely, the grain producers have to look at this measure."
The temporary elimination of export duties strengthens the supply of dollars in the face of the destabilizing wave from the political establishment.
