Argentina announces fresh cut to grains export duties

The government has announced a new reduction in export duties for the agricultural sector. The measure affects the country’s main farm complexes and aims to boost competitiveness and accelerate the inflow of foreign currency.  According to the Herald’s sister title, Ámbito, the measure is due to be formalized this Wednesday in the Official Gazette. Economy Minister Luis Caputo said on X that the new rates will take effect immediately at the following levels: Soybeans: from 26% to 24% Soybean by-products: from 24.5% to 22.5% Wheat and barley: from 9.5% to 7.5% Corn and sorghum: from 9.5% to 8.5% Sunflower: from 5.5% to 4.5% The decision is part of a gradual plan for the permanent reduction of export taxes, one of the most controversial levies among producers. Caputo stressed that the government’s goal is to move toward the complete elimination of export duties, though he acknowledged that the pace will depend on macroeconomic conditions. “Eliminating export duties has always been a priority for President Javier Milei. And we will continue doing everything possible to reach that goal as soon as we can,” the minister said. “This reduction in export duties aims to improve the competitiveness of the agro-industrial sector, one of the strongest engines of the Argentine economy and responsible for nearly 60% of our exports. In this way, we reaffirm our conviction that Argentina’s farm sector will continue to grow, create jobs, drive development across every region of the country, and strengthen Argentina’s presence in global markets. The path is clear: fewer taxes, more production, more opportunities, and more jobs for all Argentines,” Caputo added. Agro sector reacts Minutes after the announcement, CIARA-SEC (the Argentine Oilseed Industry Chamber) and CEC (the Cereal Exporters Center) welcomed the decision in a brief statement, calling it a “very positive step that should be appreciated.” The statement concluded: “We must continue working to reduce the enormous tax burden, especially on the soybean agro-industrial complex.” The cut in export duties will allow producers to improve their margins and give them an additional incentive to speed up grain sales, supporting better prices in a context of cautious investment. This was reflected in the Austral University’s AG Barometer Confidence Index, which showed a cautious short-term outlook but favorable expectations for the medium and long term. The most recent precedent was the temporary elimination of export duties on September 22, which stayed in place for three days and triggered sales of more than USD 4.9 billion — evidence of the immediate impact tax cuts can have on foreign currency flows. In November, agro-exporters brought in US$759 million, a 32% drop compared with October 2025. However, on a year-on-year basis, the balance remains positive: between January and November, foreign currency earnings from the sector rose 24% compared with the same period in 2024. Originally published on Ámbito