The Argentine Peanut Chamber insists on the total removal of withholdings: It is more urgent than ever
Peanut Kernel
Argentina
Published Nov 14, 2022
Tridge summary
The Argentine Peanut Chamber (CAM) issued a statement in which it “urgently” called on the Government to completely eliminate export duties on all products sent by this sector abroad.
Original content
In 2021, some products of this regional economy received a reduction in withholdings, but now the CAM considers that "it is more urgent than ever" to remove this tax, due to two reasons. LOOK Peanut Special: all about the 2022/23 campaign of this crop In the first place, the drought that will reduce the planted area by 13% and will affect the income of companies in this industry. Secondly, the loss of competitiveness, with important purchasing destinations such as Russia and Algeria that, in the face of the global crisis, opt for cheaper origins, such as Brazil, where there are no withholdings. The Argentine peanut complex requests the total elimination of export duties Given the loss of global competitiveness and the severe drought that affects the region that produces the crop, the regional economy warns that, more urgently than ever, no product continues to pay for this distorting tax. The Argentine peanut sector is an important regional economy that exports products with high ...
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