Peru will assume a higher import cost due to increased taxes on Argentine exports of corn and soybean oil

The Foreign Trade Research and Development Institute of the Lima Chamber of Commerce (Idexcam) warned that the initiative "Law of Bases and Starting Points for the Freedom of Argentines", by President Javier Milei, could potentially have an impact on imports of certain products to Peru and that could eventually affect the final price of some food products produced in our country. “This bill contemplates, among its provisions, the increase in the tax rate for some products in the agricultural sector, such as yellow corn and soybean oil,” commented the head of Idexcam, Óscar Quiñones. He explained that, although the Argentine Government's measures are intended to combat the economic crisis that his country is going through, they would have an impact on the import costs of these raw materials for the Peruvian food industry. “And, due to the volumes imported of these products from Argentina, there will be no way in the short term to look for another supplier to avoid these impacts,” ...