Argentina to gradually reduce taxes on soybeans, corn in 2027 and 2028

Argentina, ​a top ‌global supplier of ​grains, will gradually reduce its ‌export taxes on its biggest agricultural exports throughout the next two years, Economy ‌Minister Luis Caputo said on ‌Friday.

Taxes on soybean exports, currently at 24%, will be cut on a monthly ⁠basis ​throughout ⁠2027 and end next year at ⁠21% and 2028 at 15%, Caputo ​said, while those on soybean oil ⁠and meal will be reduced "proportionally."

Export taxes ⁠on ​corn, now at 8.5%, will meanwhile be reduced quarterly through ⁠2027 and 2028, he added, ending ⁠2027 ⁠at 7.5% and 2028 at 5.5%.