Detail

Argentina

Oilseeds, oils and meals

Edible oils

01/02/2021

Consumption and marketing

Market regulation

Signed an agreement with oilseed processors aimed at guaranteeing domestic vegetable oil supplies and stabilizing retail prices. Under the scheme, which was set to remain in place throughout 2021, the industry agreed to supply edible oils at discounted prices.

ARGENTINA – market regulation: In February, the country’s oilseed processors entered an agreement with the Government to guarantee supplies of edible oils to the domestic market and hold down retail prices. Reportedly, the agreement allowed the Government to shelve plans to raise grain export taxes – a measure meant to stabilize domestic food prices in a context of sharply rising international commodity prices. Under the deal, the industry agreed to supply 29 million liters of vegetable oil a month – roughly three quarters of domestic consumption – at discounted prices. The scheme is expected to remain in place throughout 2021.