Argentina might delay the removal of the soybean export tax
President Mauricio Macri promised during his campaign that he would get rid of all agricultural export taxes. As he took office, he did eliminate the corn and wheat export taxes while presenting a plan to phase out the soybean export tax. The new plan entailed reducing the tax by half a percent every month through the end of 2019. However, President Macri is reconsidering his decision as he faces a massive deficit. The government is on the brink of running out of cash and is currently negotiating a loan with the International Monetary Fund. Inflation stands at 40 percent.
Argentina monthly soybean exports
Source: Eikon Reuters
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