AreaArgentina
Commodity GroupOilseeds, oils and meals
CommoditySoybeans, soyoil, soymeal
Date01/10/2020
Policy CategoryTrade
Policy InstrumentExport policy
DescriptionAnnounced a reduction as of 5 October 2020 in export taxes for soybeans and derived products through the last quarter of 2020, reflecting efforts to accelerate the countrys pace of exports and raise foreign exchange earnings. While the export tax on soybeans would be cut by 3 points to 30 percent, the duty on soyoil and meal would be lowered by 5 points to 28 percent which re-introduces a tax differential between primary and derived products. At the same time, the duty for soyoil-based biodiesel would be reduced by 4 points to 26 percent. During the 3-month period, the tax rates would be raised incrementally, returning to 33 percent, 31 percent and 29 percent for, respectively, soybeans, soyoil/meal and biodiesel by January 2021. At the same time, the Government launched a tax reduction scheme for small soybean growers, with compensation payments based on the size of production and farm location.
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