The Argentine peanut complex requests the total elimination of export duties

Published 2022년 11월 15일

Tridge summary

The Argentine peanut sector is facing a crisis due to a significant reduction in planting area, increased production costs, and doubling of lease prices in the past three years, all due to severe drought and loss of global competitiveness. The high export value of peanuts, with annual income of 1,000 million dollars, makes it a crucial part of the regional economy. The high export duties, although partially reduced in 2021, are seen as a cause of reduced market share, particularly in price-sensitive markets, leading to a loss of leadership to Brazil. The chamber is calling for the complete elimination of these export duties to maintain market share.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Faced with the loss of global competitiveness and the severe drought affecting the region that produces the crop, the regional economy warns that it is more urgent than ever for any product to continue paying for this distorting tax. The Argentine peanut sector is an important regional economy that exports products with high added value, generating income of 1,000 million dollars per year. Likewise, Argentina is a leading country in global markets, being the world's leading exporter of this grain. Faced with the extreme drought that affects all productive regions, peanuts, a summer crop, do not escape the impact of this extraordinary situation. Therefore, a 13% reduction in the planted area of the crop is expected for this cycle. In addition to the smaller area projected, other factors are added that make reality: a significant increase in production costs and lease values that have doubled their prices in the last three years. But the great concern of our agro-industrial chain, ...

Source: Rural Net