# Argentina farm exports halved in 2023

> Argentina's farm exports totalled about $19.7 billion in 2023, a 51% drop from the prior year, largely due to drought. Milei's government proposed raising soymeal and soyoil export taxes to 33% from 31%, and corn and wheat export taxes to 15% from 13%.

- Date: 2024-01-03 · published 2024-01-03T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13943-argentina-farm-exports-halved-in-2023
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Higher export taxes reduce Argentine farmer selling and can shift export flows, supporting world soymeal, soyoil, corn and wheat prices while the taxes remain a pending policy risk.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2020-12-01 | [Argentina to Tax Grain Exports \| Feed & Grain](https://feedsoft.ai/events/49492-argentina-to-tax-grain-exports-feed-and-grain.md) | -1.7% | +8.6% |
| SBM | 2019-12-24 | [Argentina raise taxes on corn, wheat and soybean exports \| Farm Online \| ACT](https://feedsoft.ai/events/55425-argentina-raise-taxes-on-corn-wheat-and-soybean-exports-farm-online-act.md) | -0.5% | -0.8% |
| SBM | 2022-03-14 | [Argentina halts export registration for soy oil, meal \| Reuters](https://feedsoft.ai/events/5494-argentina-halts-export-registration-for-soy-oil-meal-reuters.md) | -1.7% | -4.7% |
| SBM | 2020-04-24 | [Higher export taxes impact Argentina’s future soy acres \| 2020-04-24  \| World Grain](https://feedsoft.ai/events/53488-higher-export-taxes-impact-argentina-s-future-soy-acres-2020-04-24-world-grain.md) | +0.3% | -2.1% |
| SBM | 2022-06-27 | [Food export bans, from India to Argentina, risk fueling inflation](https://feedsoft.ai/events/14025-food-export-bans-from-india-to-argentina-risk-fueling-inflation.md) | +5.4% | -0.6% |
| SBO | 2020-12-01 | [Argentina to Tax Grain Exports \| Feed & Grain](https://feedsoft.ai/events/49492-argentina-to-tax-grain-exports-feed-and-grain.md) | +2.6% | +12.1% |
| SBO | 2019-12-24 | [Argentina raise taxes on corn, wheat and soybean exports \| Farm Online \| ACT](https://feedsoft.ai/events/55425-argentina-raise-taxes-on-corn-wheat-and-soybean-exports-farm-online-act.md) | +2.1% | -3.8% |
| SBO | 2022-03-14 | [Argentina halts export registration for soy oil, meal \| Reuters](https://feedsoft.ai/events/5494-argentina-halts-export-registration-for-soy-oil-meal-reuters.md) | -9.8% | +240.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40281716/argentina-farm-exports-halved-in-2023

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.