Argentina reinstated grain export duties three days after lifting them

7 billion. The initiative aimed to secure a rapid inflow of foreign currency to support the peso, which had come under pressure following Central Bank interventions and recent political developments. In the first days of the program, exporters rushed to ship agricultural products, allowing the government to quickly reach the USD 7 billion target. According to Reuters, the limit was achieved in just three days. This led to the immediate reinstatement of export duties: 26% on soybeans, 9.5% on corn, and 24.5% on soybean oil and meal. The short-term suspension proved advantageous for exporters who were able to sell large volumes, but it also sparked debate among farmers and traders. On global markets, active Chinese purchases of Argentine soybeans contributed to a decline in soybean futures prices. The return of duties raised concerns about the future of domestic prices and the competitiveness of Argentina’s agricultural sector. For many producers, it means once again facing a heavy ...