The Van Trump Report

Argentina Looks Set to Hike Export Taxes…Again

Soybean bulls were happy to hear the Argentine government has suspended the registration of agricultural exports until further notice. Most inside the trade are thinking this is the move being made before the new Argentine government issues a statement that they will be increasing export tariffs on soy and perhaps other ag products. The trade seems to be eyeing and looking for hints to come on or around March 1, when newly elected President Fernandez is scheduled to give his first big presentation. Remember, he already hiked export tariffs during his first week in office back in December as the new leadership is desperately trying to battle massive debt. With Argentina being the world’s largest exporter of meal and soyoil, a further hike in export taxes is certainly good news for U.S. exporters. I will continue to closely monitor this situation and pass along any new details as they develop.

Leave a Comment

Your email address will not be published. Required fields are marked *