The new government of Argentina, which came to power after the recent presidential elections in the country, announced its intention to raise up to 15% export duty on some types of grain crops, according to Reuters.
Currently, wheat and corn exports from the country are taxed at 12%, while soybean exports are taxed at 33%.
We will remind that Javier Millay, who assumed the post of president on December 10, promised to introduce “shocking” measures to resolve the most powerful economic crisis in the country in recent decades.
The first economic measures have already been announced, including the devaluation of the Argentine peso by more than 50% and significant cuts in government spending.