Argentina's Soybean Prices Plunged 41.27% YoY in W52 Amidst Government's Export Duty Plans

In W52, soybean prices in Argentina witnessed a substantial YoY decline of 41.27%, and a MoM decrease of 46%. This is contrary to the upward trend observed in 2022, where prices were up 8% MoM in W52. The decline follows the Argentine government's plan to increase export duties on soybean meal and oil, causing a notable drop in future soybean values as the impending tax increase diminishes competitiveness.