Argentina reduces wheat export duty from June

Starting in June 2026, Argentina will reduce the export duty on wheat from the current 7.5% to 5.5%, the country's President Javier Miel said, speaking at the Buenos Aires Grain Exchange.

He also said that from January 2027, there could be a 0.25%-0.5% export duty on soybeans, but only if tax revenues allow it.

The president spoke about plans to reduce taxes for the automotive and petrochemical industries, but more details about this will be announced later.

A reduction in the export duty on wheat will encourage farmers to increase the area under winter wheat, the sowing of which is currently underway, but its harvest forecasts are significantly lower compared to the previous season due to adverse weather conditions.