Argentina the second leading exporter of soybeans to Colombia

The geopolitical crisis in Ukraine is having an impact on countries in the region. The Colombian government is no exception and is trying to avoid double-digit inflation. Countries like Argentina have taken measures through their economic cabinet to deal with this situation. It is known that Argentina halted exports of soybean oil and meal, which could have an effect on the withholdings of these products. These measures are intended to increase the taxation on soybean and flour exports from 31% to 33%, a figure that, according to analysts’ estimates, could raise an additional US$400 million. Despite the fact that governments have exerted efforts so Colombia does not depend on the importation of these products, a large volume from abroad is still required. Last year, according to figures from the National Federation of Cereal, Legume and Soybean Growers (Fenalce), more than two million tons were imported. Argentina is the second leading exporter of soybeans and its derivatives to ...