Argentina eliminates controversial tax on grain exports Dec. 14, 2015
Argentina's new pro-business president announced Monday he was eliminating a tax on grain exports and cutting levies on exports of soy.
All of those taxes, introduced in 2008, had triggered a major clash between producers and the government then in power.
"I am going to sign the decree today," President Mauricio Macri, sworn in just last week to end more than a decade of center-left rule, said in a speech to farm producers.
Argentina is a major agricultural producer.
Export taxes will be eliminated altogether for wheat, corn and sorghum, and for soy the tax will drop from 35 percent to 30 percent, Agriculture Minister Ricardo Buryaile told reporters.
The 32 percent tax on soymeal and soyoil exports was also to be cut by 5 percentage points. Growers said they expect the government to honor its promise to ditch Fernandez's wheat and corn export quotas as well, maybe even as part of the same decree.
The decree will also eliminate a 15 percent export tax placed on beef exports.