# Argentine government taxes farmers to fund spending - Grain Central

> Argentina's new government raised export taxes on corn and wheat from 6.7% to 12% and on soybeans, soyoil and soymeal from 24.7% to 30%. The move aims to raise revenue and curb dollar outflows amid debt restructuring and low reserves.

- Date: 2019-12-24 · published 2019-12-24T12:00:00.000Z
- Category: policy · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/55423-argentine-government-taxes-farmers-to-fund-spending-grain-central
- 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), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher export taxes reduce Argentine farm selling and export competitiveness, which can tighten soymeal, soyoil, corn and wheat exports and support world prices while favoring Brazilian and US supply.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-09-01 | [Argentine farmers consider grains strike over beef export cap
						 \| The Cattle Site](https://feedsoft.ai/events/44931-argentine-farmers-consider-grains-strike-over-beef-export-cap-the-cattle-site.md) | -1.9% | -0.9% |
| 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 | 2020-06-18 | [Argentine farmers raise concerns over linking sovereign bonds to food exports
						 \| The Cattle Site](https://feedsoft.ai/events/52445-argentine-farmers-raise-concerns-over-linking-sovereign-bonds-to-food-exports.md) | -0.4% | -0.3% |
| SBM | 2020-03-09 | [Argentine farmers begin four day sales strike to protest higher export taxes — MercoPress](https://feedsoft.ai/events/53992-argentine-farmers-begin-four-day-sales-strike-to-protest-higher-export-taxes.md) | -1.8% | +0.6% |
| SBM | 2020-03-06 | [Argentine farmers plan strike against tax hike as tensions bubble](https://feedsoft.ai/events/53983-argentine-farmers-plan-strike-against-tax-hike-as-tensions-bubble.md) | -0.6% | +2.9% |
| 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 | 2020-06-18 | [Argentine farmers raise concerns over linking sovereign bonds to food exports
						 \| The Cattle Site](https://feedsoft.ai/events/52445-argentine-farmers-raise-concerns-over-linking-sovereign-bonds-to-food-exports.md) | -1.6% | +4.2% |
| SBO | 2020-03-09 | [Argentine farmers begin four day sales strike to protest higher export taxes — MercoPress](https://feedsoft.ai/events/53992-argentine-farmers-begin-four-day-sales-strike-to-protest-higher-export-taxes.md) | -8.3% | -7.2% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/argentine-government-taxes-farmers-to-fund-spending/

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